Exterior facade of 5627 lexington surrounded by greenery and a flowering tree in the foreground.

SUCCESS STORY

Effective Marketing Brings Swift Results

5627 Lexington Ave.

Looking to trade into a bigger and better property, we were able to sell our client's downleg in a week at list price.

Offering Price
$2,748,000

City

East Hollywood

Current CAP

3.84

Price per unit

$229,000

Lot Size

7,492 SF

5627 lexington

About the Property

Sitting on a quiet residential block just south of Sunset Blvd, 5627 Lexington was a 12-unit complex within walking distance of a selection of coffee shops, restaurants, theaters, and colleges. This 12 unit complex features (1) two bedroom/one bathroom unit and (11) one bedroom/one bathroom units. A new roof was installed in 2012 and the exterior of the building was updated in 2013. Additionally, the property provides 11 secured gated parking spaces.

Offering Price

$2,748,000

Number of Units

12 Units

Bldg. Size

8,670 SF

Price per Foot

$322

Year Built

1958

Market CAP

6.31

Zoning

LAR3

Background

Our client owned a 12-unit property in a rapidly developing location of East Hollywood. Not looking to aggressively seek "buyouts" and relocate tenants, the seller felt confident he had maximized the value of the property and wanted to trade into another value-add property that would generate greater cash flow and return on equity.

Exterior facade of 5627 lexington surrounded by greenery and a flowering tree in the foreground.
Exterior facade of 5627 lexington surrounded by greenery and a flowering tree in the foreground.
Exterior facade of 5627 lexington surrounded by greenery and a flowering tree in the foreground.

Result

Within the first few weeks, the seller was thrilled to accept an offer at the listed price. He is currently an active exchange buyer cooperating with agents from all brokerages to locate an effective upleg that will meet his financial goals. Meanwhile, the buyer is thrilled to acquire a property with notable upside and assumed great interest-only financing.

A well-maintained apartment building at 5627 lexington, with a garden, surrounded by a black fence and trees on a sunny day.
A well-maintained apartment building at 5627 lexington, with a garden, surrounded by a black fence and trees on a sunny day.
A well-maintained apartment building at 5627 lexington, with a garden, surrounded by a black fence and trees on a sunny day.

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Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.