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5425 Flemish Lane
USD 1,900,000
Property ID: 23314681
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5425 Flemish Lane ,90029
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icon 5498 SqFt
icon Built in 1948
icon USD 346/SqFt
icon 28 Beds
icon 16 Full
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Location Street View
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Interior Details
Bedrooms
28
Bathrooms
16
Interior Size
6764
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1948
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Detailed Introduction Of This Home
Opportunity knocks in the heart of Los Angeles - California with the Flemish Lane Apartments, two residential income buildings, fully-occupied, comprised of two contiguous parcels within the Hollywood Redevelopment Project Zone. This offering represents a current Cap Rate of +5.56%, with an increased Cap Rate of 6.3% when the February 2024 LA City RSO rent increases take effect. 5425 and 5441 boasts 16 residential units with a mix of 1Bed-1Bath and 2Bed-1Bath units. The building is fully rented and there is upside potential to realize. All Tenants are current on rents. This is a unique opportunity for a major TOC Development and/or DensityBonus Project considering an adjacent lot, has recently received approval for a 65-unit apartment complex. 5421 Flemish Lane is also available for purchase. 5421 Flemish Lane is a mixed use property with one residential unit and one commercial unit.
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Contact Development/Agent
Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
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Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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Photos (11)
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5425 Flemish Lane
USD 1,900,000 28 Beds
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