Los Angeles, Residential Income – 5406 Lexington Ave, Los Angeles, CA 90029, USA -001-11-30T00:00:00-08:00
The Edgemont is a 42-unit apartment building located in the Hollywood area of Los Angeles. The property consists of a four-story brick structure, plus two penthouse units on the fifth floor over a partial basement. Included with the property is a parking lot
5406 Lexington Ave, Los Angeles, CA 90029, USA
$7,975,000 USD
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Address5406 Lexington Avenue, Los Angeles
Price$7,975,000
Year Built1928
Bedrooms Total0
Living Area25,048
Lot Size (Sq.Ft.)7,501
Listing ID17269520
StatusActive
Parcel Number5537006002
Special ConditionsStandard
Days on Market40

Detailed Description: The Edgemont is a 42-unit apartment building located in the Hollywood area of Los Angeles. The property consists of a four-story brick structure, plus two penthouse units on the fifth floor over a partial basement. Included with the property is a parking lot for approximately 14 vehicles. All units are master metered for utilities. The property has a center hallway design with two staircases and an elevator. All entrances are secured. There is a small lobby at the front of the property as well as a laundry room and additional storage rooms in the basement. The property is situated on a cul-de-sac and has excellent freeway visibility that provides great leasing exposure. The property boasts architecturally unique features such as four turrets on the upper floor. The unit mix consists of 32 studio apartments with a bathroom and full kitchen, eight units that are one-bedroom with one-bathroom and a full kitchen, as well as two units on the fifth floor that are studios.

Cooling
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Parking

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Address Information
Address5406 Lexington Avenue, Los Angeles
Street SuffixAvenue
CityLos Angeles
Location (MLS Area)C20 – Hollywood
County Or ParishLos Angeles
State or ProvinceCA
Postal Code90029
Financial Information
Price per Square Foot$318.39
Price per Lot Square Foot$1,063.19
Special ConditionsStandard
Total Expenses$236,320
Gross Operating Income$572,338
Net Operating Income$336,019
Gross Multiplier13.58%
Improvements Amount$460,293
Land Value$213,300
Tax Year2000
Full Descriptions
Parcel Number5537006002
Detailed DescriptionThe Edgemont is a 42-unit apartment building located in the Hollywood area of Los Angeles. The property consists of a four-story brick structure, plus two penthouse units on the fifth floor over a partial basement. Included with the property is a parking lot for approximately 14 vehicles. All units are master metered for utilities. The property has a center hallway design with two staircases and an elevator. All entrances are secured. There is a small lobby at the front of the property as well as a laundry room and additional storage rooms in the basement. The property is situated on a cul-de-sac and has excellent freeway visibility that provides great leasing exposure. The property boasts architecturally unique features such as four turrets on the upper floor. The unit mix consists of 32 studio apartments with a bathroom and full kitchen, eight units that are one-bedroom with one-bathroom and a full kitchen, as well as two units on the fifth floor that are studios.
Laundry FeaturesSee Remarks
Cooling DescriptionNone
Parking FeaturesOther
Property parameters
Year Built1928
Living Area (Sq.Ft.)25,048
Lot Size (Sq.Ft.)7,501
Lot Size (Acres)0.17
Lot Size SourceSee Remarks
Number of Buildings1
Number of Units Total42
Stories Total5
Units Total42
Cap Rate (For Cash Payment Only)4.21
Listed withBrent Sprenkle (Berkadia)