5421 Flemish Lane, Los Angeles, CA 90029

About this commercial property

Opportunity knocks in the heart of Los Angeles - California with the Flemish Lane Apartments, a mixed-use commercial and residential income building, fully-occupied, comprised of three contiguous parcels and expanding nearly 1-block in length within the Hollywood Redevelopment Project Zone. This offering represents a Cap Rate of +6.3%. The 17 residential units are a mix of 1Bed-1Bath and 2Bed-1Bath units, along with 1 commercial unit. The building is fully rented and there is upside potential to realize. This is a unique opportunity for a major TOC Development and/or DensityBonus Project considering an adjacent, similarly-sized lot, has recently received approval for a 65-unit apartment complex. Investor may have option to add two ADUs to the 5421 parcel which contains the current commercial and parking garage spaces.

Listing description from the October 2023 sale, as reported to CRMLS.

Sale history

$2,390,000

Sold October 2023 · listed $2,375,000, orig. $2,149,000, on market July 2023 · MLS #23286679 · Source: CRMLS

Listing Agent: Melissa Barlow · Listing Office: Re/Max Execs · Contact: 310-378-9889 · Bought with: Michael Dixon · NAI Capital, Inc.

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