7154 Lexington Ave West Hollywood, CA 90046
- Apartment buildings
- 2,104 SF
- 0.07 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 7154 Lexington Ave
- Year built
- 1952
- Construction
- WOOD
- Lot size
- 0.07 lot acres
- Property size
- 2,104 SF
- Zone code
- WDR3C*
- Property type
- Apartment buildings
- APN
- 5531-009-011
- APU
- 5531009011
Description
This exceptional West Hollywood multifamily property, located at 7154 Lexington Ave, offers five units in a highly desirable rental market. The 2,104 square foot building, constructed in 1952, comprises three one-bedroom, one-bathroom units and two studio units, averaging 420 square feet each. Situated on a 2,934 square foot lot, this Class B building boasts a strong net operating income (NOI) of $67,706, resulting in a 4.59% cap rate. The asking price is $1,475,000, or $295,000 per unit, presenting a compelling value-add opportunity with an estimated 23% upside potential in rental income. The property benefits from a Walk Score of 97 ("Walker's Paradise"), placing it within easy walking distance of a wide array of shopping, dining, and entertainment options. This 1031 exchange eligible offering is a rare chance to acquire a trophy asset in one of Los Angeles' most coveted neighborhoods, adjacent to Hollywood and Beverly Grove. The property's strong location and potential for increased rental income make it an attractive investment for discerning buyers.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- West Hollywood
- County
- Los Angeles
- State
- California
- Longitude
- -118.346
- Latitude
- 34.0924
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
