4635 Lexington Ave, Los Angeles, CA 90029

Property Description

PRICE JUST DROPPED TO SELL!! ONE OF A KIND — OFFERED FOR SALE FOR THE FIRST TIME SINCE ITS 2018 CONSTRUCTION. Five individual homes across three detached buildings on a single 7,961 square foot East Hollywood lot — a modern five-home compound of a kind this neighborhood has not seen built in decades. THE HOMES: Two two-story duplex buildings hold four oversized one-bedroom, two-bath residences of 1,010 to 1,073 square feet — nearly double the footprint of the typical East Hollywood one-bedroom — each a townhome-style layout with a bath on each level, its own garage, central heat and air, in-unit washer and dryer, and dishwasher. A fully detached 1,291 square foot two-bedroom, two-bath house with two assigned parking spaces completes the compound. Every home lives like a house: three separate buildings, no shared lobbies, no long corridors. WHY IT IS RARE: Built ground-up in 2018, the property sits entirely outside the LA Rent Stabilization Ordinance — ZIMAS confirms no RSO by APN — and the AB 1482 new-construction exemption keeps it outside statewide caps until roughly 2033. Nearly every competing five-unit nearby dates from 1912 to 1961. No soft-story retrofit, no galvanized plumbing, no knob-and-tube: the capital-expenditure profile of a new building carrying the income of five homes. THE OPPORTUNITY: A turn-key income property for an exchange buyer on a deadline or a long-horizon private investor — and a possible path for an owner to occupy one home while the other four produce income, subject to existing tenancies. At five doors, it is also an approachable first income property. One owner since construction, professionally managed from day one, with complete work order and collections records that demonstrate diligence to the buyer. THE LOCATION: Virgil Village adjacent, between Silver Lake and the Hollywood studio corridor — a short walk to the Metro B Line at Vermont and Santa Monica, minutes to Sunset Junction and Los Feliz. NEXT STEP: Offering Memorandum, measured floor plans, and lease files available upon request.