Description

We are pleased to present an eight (8) unit apartment building located at 5836 Lexington Ave in Los Angeles, California. The subject property is located in a prime Hollywood location, north of Santa Monica Blvd and west of Van Ness Ave. Located in a prime Hollywood location, the property features an attractive unit mix of one studio, five one-bedrooms, and two two-bedrooms, with strong rental upside of approximately 65%. The property has newly upgraded systems such as the roof, copper plumbing, electrical, and liner on drain line. Situated in an Opportunity Zone and benefiting from Tier 2 TOC density incentives, the asset presents a compelling value-add opportunity, including the potential to convert existing carport parking into ADUs. The gated and secure property offers on-site parking and boasts dominant access to major commercial corridors including Santa Monica Blvd, Hollywood Blvd, Sunset Blvd, and Western Ave, along with immediate access to the 101 Freeway. The property is also conveniently located near the Hollywood/Vine Metro station and within minutes of premier entertainment, dining, retail, and employment centers. Overall, the property's strong unit mix, significant rental upside, and clear value-add potential through ADU conversion of the existing carports position it as a compelling investment opportunity with both immediate income and long-term growth.