5666 Lexington Ave, Los Angeles, CA 90038

Property Description

Location, Location, Location. Perfect for experienced developer/investor. Rare and Excellent investment opportunity centrally located on on a quiet street in one of the most sought after areas in Los Angeles in an up-and-coming area of Hollywood! This opportunity provides an investor
 potential rental upside in a strong demand rental market in this densely populated and highly attractive location. 
 City zoning and planning states that R-3 can build 6-8 units on property. This property is a Triplex and consists of 1 building and 1 separate unpermited unit in back by garage. Main house has a basement which may be helpful for subterranean parking if developed into more units. Major fixer for experienced Buyers. Will not qualify for financing. Within a couple of blocks from Paramount Studios and close proximity to the Larchmont Village-Hancock Park adjacent area, close to a plethora of dining attractions, retail, and nightlife of Melrose Avenue. The property is also near Paramount Pictures Studios. The property consists of 1 main house with 3 bedroom and 2 baths and 2- 1 bedroom/1 bath units attached. There is another unpermitted studio in back adjacent to garage. All units will be delivered vacant. This is a probate sale. Executor does not know much about the property and is uncertain if property is subject to rent control. Property is deemed historic. Information within deemed reliable but not guaranteed. Buyer to due his own full investigation of the property.