5737 Lexington Ave

Los Angeles, CA, 90038

$3,800,000

$369 per ft²
$3,800,000
$369 per ft²
Active
Active
 - For Sale
baths
20 Baths
carpenters-square
10,292 ft²
property_type
Multi-family
calendar
Built 1927
We are pleased to present a 20-unit apartment building located at 5737 Lexington Ave in Hollywood's Studio District of Los Angeles. Built in 1927, the gated property consists of all studio units with a building square footage of 10,292 sq/ft. With its classic 1920s Hollywood aesthetic, the property has gone through a recent facelift to enhance the existing charm and curb appeal. Recent improvements to the property include a new security camera system, new intercom, new flooring in the lobby, and restored flooring in the hallways. Thirteen out of the twenty units have been renovated within the last three years as well. A potential investor will have the ability to renovate the remaining units as they become vacant and take advantage of the 27% upside in rents. An on-site laundry facility also provides additional income for the property. With an everchanging landscape, Hollywood continues to see an abundance of major developments in the office, retail, hotel, and residential sectors which validates the strength of the market as a whole. On the same block as the subject property, there have been multiple newly constructed residential developments completed within the last few years alone. 5737 Lexington Ave is within walking distance to the $450 million development project coined Echelon Studios. With a rise in the digital streaming space, Brain Capital Real Estate and BARDAS Investment Group will be constructing four 19,000 sq/ft sound stages, a 15,000 sq/ft flex stage, and a 90,000 sq/ft "creative village." Spanning the entire square block between Wilton Pl to St. Andrews Pl, the site will also contain 350,000 sq/ft of office space.
MLS® ID:
22-195303
Listed:
8/30/22
Updated:
1/27/23

Interior Features

Total Bedrooms
0
Total Bathrooms
20
Laundry Description
Room
Cooling
Wall Unit(s)
Heating
Wall

Exterior/Building Features

Lot Size
7,500 ft² lot
Exterior Features
None

Other Property Details

Garage
No
Parking
None
View
N
County
Los Angeles
Pool
No
Total Stories
2
Zoning
LAR3

Property History

Date
Event
Price
Value
10/13/22
Price Change
$3,800,000
-7%

Courtesy of Marcus & Millichap, Sevak Keshishian,
Listing Contact:  

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Rory Posin shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2023 Combined L.A./Westside MLS. All rights reserved.

Data last updated 1/27/23

Contact