5526 Lexington, Los Angeles, California 90038, Los Angeles, 90038 - bed, bath

ACTIVE$1,799,000
5526 Lexington, Los Angeles, California 90038
0Bed
0Bath
1,465Sqft
7,496Lot
Year Built
1907
Close
-
List price
$1.8M
Original List price
$1.8M
Price/Sqft
$1,228
HOA
-
Days on market
-
Sold On
-
MLS number
SB25123027
Home ConditionPoor
Features
Good View:
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.80M(67th), sqft - 1465(17th), beds - undefined(50th), baths - undefined(50th).
***Developers - Investors*** 7500 sf lot in Opportunity Zone, R4 lot, Tier 3 TOC Rating. Build up 18 units or more!! 2-story Victorian house with a detached single unit at the rear (south) of the property. 1 electric and gas meter, City report indicates 2 addresses, county land use is duplex use. Owner reports new electrical, new plumbing, and new foundation. Will be delivered vacant. Huge Development Potential!!!
Condition Rating
Poor
Built in 1907, the property's exterior shows significant age and neglect, with faded paint and basic landscaping. While the owner reports new electrical, plumbing, and foundation, these are foundational system upgrades and do not address the cosmetic or functional condition of the living spaces. The complete absence of interior photos, especially of the kitchen and bathrooms, strongly suggests these areas are in a dilapidated state, requiring substantial repairs and rehabilitation. The listing's primary focus on 'Huge Development Potential' and the mention that the existing structures 'may still require extensive renovation or demolition' further indicate that the property is not suitable for comfortable living in its current condition, aligning with the 'poor' category.
Pros & Cons
Pros
Exceptional Development Potential: The property boasts R4 zoning with a Tier 3 TOC rating on a 7500 sqft lot, allowing for the construction of 18 or more units, making it highly attractive for developers.
Opportunity Zone Location: Situated within an Opportunity Zone, this property offers significant tax advantages and incentives for investors, enhancing its financial appeal.
Prime Los Angeles Location: Located in the desirable Hollywood area (MLS area C20) of Los Angeles, ensuring strong market demand and potential for high returns.
Recent Infrastructure Upgrades: The owner reports new electrical, plumbing, and foundation, providing a solid base and reducing immediate capital expenditure for the existing structures.
Vacant Delivery: The property will be delivered vacant, allowing for immediate commencement of development or renovation without the complexities of tenant relocation.
Cons
Advanced Age of Existing Structures: Built in 1907, the existing Victorian house and detached unit, despite reported upgrades, may still require extensive renovation or demolition to fully capitalize on the development potential.
Single Utility Meter for Duplex: The presence of only one electric and gas meter for what is recognized as a duplex could complicate separate utility billing and management if the existing structures are intended for rental income.
Niche Market Appeal: The property's primary value proposition is its development potential, which targets a specific segment of developers and investors, potentially narrowing the buyer pool compared to a traditional residential listing.











