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$ 1,500,000
Est. payment /mo
Active
5522 Lexington Avenue Los Angeles, CA 90038
6,130 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,130 sqft
Price per Sqft $244
MLS Listing ID CL26701519
HOA Y/N No
Year Built 1962
Lot Size 7,497 Sqft
Acres 0.1721
Property Sub-Type Other
Property Description
5522 Lexington Avenue is a 10-unit multifamily asset located in the highly desirable Hollywood submarket of Los Angeles, CA. Built in 1962, the property consists of approximately 6,133 square feet on a 0.17-acre lot, offering an efficient unit mix of three studios, six one-bedroom units, and one two-bedroom unit. The property benefits from a low-density layout with on-site parking and strong in-place operations, making it well-positioned for both stable cash flow and future value enhancement. Situated in a prime rental corridor near major employment hubs, entertainment centers, and retail amenities, the asset offers investors a compelling opportunity to capitalize on significant rental upside. Current rents average approximately $1,261 per unit compared to a market average near $1,980, representing substantial mark-to-market potential. With projected income growth of over 50% and a pro forma NOI more than doubling, 5522 Lexington Avenue presents a classic value-add investment in one of Los Angeles' most supply-constrained and high-demand rental markets.
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 5536008007
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Listed by Daniel Withers • Matthews Real Estate Investment Services