5406 Lexington Ave is a 42-unit multifamily investment opportunity located just off of the 101 Freeway between Fountain Ave & Santa Monica Blvd in Hollywood. The property features a unit mix of 34 singles and 8 one-bedrooms; three singles will be delivered vacant; renovated units include new cabinetry, vinyl-plank flooring, stainless-steel appliances, tile bathrooms, new paint, and wall AC's; ownership has spent $447k on interior unit renovations since 2021; many of the units also feature exposed brick. Additionally, the property includes the adjacent 4,687 SF lot currently used for parking; there are 14 parking spaces in the gated lot. At the asking price, the property is being offered at a 5.54% CAP rate at 10.39 GRM on current income with an additional 14% rental upside achievable as units turn through continued interior renovations. There is significant additional income with RUBS in place, as well as internet service. The property has a secured, gated entrance with intercom access. High Walk Score of 91, the property is walking distance to the Metro B Rail Line, and multiple Metro Local Lines along Fountain Ave and Santa Monica Blvd. The property is ideally located with a short commute to Koreatown, Los Feliz, Silver Lake, Echo Park, and Downtown Los Angeles. APNs: 5537-006-002 &5537-006-001
Property Details
Property Features
Property Information:
Year Built: 1928
Stories: 0
Living Area: 25,048 SqFt
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (310) 909-5500
Listing Agent: Neema Ahadian
Interior Features
Bedroom and Bathroom Information:
Total Bedroom Count: 8
Exterior Features
Parking Information:
Attached Garage: No
Lot Features
Lot Information:
Lot Size: 0.28 Acres
Utilities
Utilities Information:
Heating: None
Cooling: None
School Info
Assigned Schools Information:
Helen Bernstein High School, Public District Grades 9-12
Math, Science, & Technology Magnet Academy at Roosevelt High School, Public Magnet Grades 9-12
Daniel Pearl Journalism & Communications Magnet, Public Magnet Grades 9-12
Joseph Le Conte Middle School, Public Magnet Grades 6-8
Studio, Public District Grades 6-8
Kingsley Elementary School, Public District Grades KG-5
Melrose Avenue Elementary School, Public Magnet Grades KG-6
Academy For Enriched Sciences, Public Magnet Grades 1-5
Other
Directions Information:
Directions: Locatedjust off of the 101 Freeway between FountainAve & Santa Monica Blvd in Hollywood
Price Information
Listing Price Info
Price Summary:
List Price: $7,995,000
Price Per SqFt: $319/SqFt
Tax Information:
Annual Amount: $96,163
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $6.9M more than the Median Sold Price and $321/SqFt less than other homes in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24408305
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (310) 909-5500
Listing Agent: Neema Ahadian
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 10/22/2024, 11:20:54 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Mar 07, 2018
Mar 07, 2018Home Sold
$7,600,000
Dec 14, 1995
Dec 14, 1995Home Sold
$715,000
Aug 25, 1988
Aug 25, 1988Home Sold
$965,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$96,163
$7,953,397
2020
$93,299
$7,855,020
2019
$11,054
$7,701,000
2018
$10,811
$700,804
2017
$10,811
$687,064
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
5
/10
Kingsley Elementary School
5200 Virginia Ave
Distance between this listing and this school0.26 miles
Public District Grades KG-5
9
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school2.27 miles
Public Magnet Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school20.41 miles
Public Magnet Grades 1-5
Middle School
4
/10
Joseph Le Conte Middle School
1316 N Bronson Ave
Distance between this listing and this school0.57 miles
Public Magnet Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school4.11 miles
Public District Grades 6-8
High School
2
/10
Helen Bernstein High School
1309 N Wilton Pl
Distance between this listing and this school0.41 miles
Public District Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school6.66 miles
Public Magnet Grades 9-12
7
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school13.05 miles
Public Magnet Grades 9-12
Assigned Schools
5
/10
Kingsley Elementary School
5200 Virginia Ave
Distance between this listing and this school0.26 miles
Public District Grades KG-5
9
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school2.27 miles
Public Magnet Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school20.41 miles
Public Magnet Grades 1-5
Assigned Schools
4
/10
Joseph Le Conte Middle School
1316 N Bronson Ave
Distance between this listing and this school0.57 miles
Public Magnet Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school4.11 miles
Public District Grades 6-8
Nearby Schools
6
/10
Citizens of The World Charter
1316 N Bronson Ave
Distance between this listing and this school0.57 miles
Public Charter Grades KG-8
Assigned Schools
2
/10
Helen Bernstein High School
1309 N Wilton Pl
Distance between this listing and this school0.41 miles
Public District Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school6.66 miles
Public Magnet Grades 9-12
7
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school13.05 miles
The neighbors living near this home have an average income of $33,558. Most Los Angeles, CA residents have annual incomes less than $35k. The most common type of family is single, no kids. Residents of this area typically have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 5406 Lexington Ave
What is the listing price of this property?
The listing price of 5406 Lexington Ave property is $7,995,000.
What type of property is this?
The property 5406 Lexington Ave is a house located in Los Angeles, California, 90029.
Is this property for sale now?
Active Listing: 5406 Lexington Ave is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 5406 Lexington Ave are: Kingsley Elementary School: GreatSchools Rating 5/10Melrose Avenue Elementary School: GreatSchools Rating 9/10Academy For Enriched Sciences: GreatSchools Rating 9/10Joseph Le Conte Middle School: GreatSchools Rating 4/10Studio: GreatSchools Rating 4/10Helen Bernstein High School: GreatSchools Rating 2/10Math, Science, & Technology Magnet Academy at Roosevelt High School: GreatSchools Rating 8/10Daniel Pearl Journalism & Communications Magnet: GreatSchools Rating 7/10
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $96,163 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on March 7, 2018 for $7,600,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 5406 Lexington Ave has 8 bedrooms and 42 bathrooms.
What is the square footage of this property?
The property 5406 Lexington Ave is 25,048 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 5406 Lexington Ave is 1928.
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This home is located at 5406 Lexington Ave in Los Angeles, CA and zip code 90029 in the Central LA neighborhood. This 25,048 square foot home, which was built in 1928, sits on a 0.28 acre lot. Features: 8 bedrooms, 42 bathrooms. It has been listed on Rocket Homes since June 25, 2024 and is currently priced at $7,995,000.
In September 2024 more than 532 listings in Los Angeles, CA were sold above the asking price. During the same period more than 180 listings were sold at asking price, while more than 619 were sold below. The inventory of homes for sale in Los Angeles, CA between August 2024 and September 2024 increased by 10.6%. The median list price of listings available in September 2024 was $1,012,476, while the average time on the real estate market was 36 days.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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