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1176 N Kingsley Drive

Los Angeles (City), CA 90029
  • $2,750,000
  • STATUS: Active
  • ON SITE: 29 Days
  • ID#: 320007846
$2,750,000
  • 0
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1957
County:

School Ratings & Info

Description

The Kingsley Apartments is an 11 unit apartment building, located in the Heart of Hollywood, consisting of 10 one bedroom one bathroom units, and 1 two bedroom one bathroom unit. Four of the Eleven tenants are Section 8 tenants. There is one unit vacant and all others are occupied, with rent collections made in full ever since the pandemic, including those with Section 8 tenants. There are five tandem parking spaces, and the remaining six units do not have parking. There is a laundry facility on-site, and storage spaces located above the parking spaces. Soft-story retrofit plans have been fully approved, and are shovel-ready, allowing investors to recoup future capex reimbursements from tenants. Prime location of Hollywood, with constant redevelopment all around! Total annual gross income for the property is $186,350

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-28T00:27:02.387. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
www.theparsonsrealestateteam.com/homes/121873385
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1176 N Kingsley Drive Los Angeles (City), CA 90029

  • Price: $2,750,000
  • Status: Active
  • ID#: 320007846
0
Beds
0
Baths
0
½ Baths
0.18
Acres
1957
Built
Neighborhood:
Not Applicable-105
County:
Los Angeles
Area:
C20 - Hollywood
Property Description
The Kingsley Apartments is an 11 unit apartment building, located in the Heart of Hollywood, consisting of 10 one bedroom one bathroom units, and 1 two bedroom one bathroom unit. Four of the Eleven tenants are Section 8 tenants. There is one unit vacant and all others are occupied, with rent collections made in full ever since the pandemic, including those with Section 8 tenants. There are five tandem parking spaces, and the remaining six units do not have parking. There is a laundry facility on-site, and storage spaces located above the parking spaces. Soft-story retrofit plans have been fully approved, and are shovel-ready, allowing investors to recoup future capex reimbursements from tenants. Prime location of Hollywood, with constant redevelopment all around! Total annual gross income for the property is $186,350
Exterior Features

Carport Spaces 0 Carport YN Yes Number Of Separate Electric Meters 12 Parking Features CoveredCarportTandem Parking Total 0 Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall Flooring CarpetTileWood Heating Wall Furnace Heating YN Yes

Property Features

Cap Rate 4.64 Fuel Expense 0 Garage YN No Gross Scheduled Income 186350 Insurance Expense 4787 Land Lease Amount 0 Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Maintenance Expense 7140 Net Operating Income 0 New Taxes Expense 32807 Number Of Separate Gas Meters 12 Number Of Separate Water Meters 1 Number Of Units Leased 0 Operating Expense 0 Other Expense 0 Special Listing Conditions Standard Supplies Expense 0 Tax Annual Amount 0 Total Actual Rent 0 Trash Expense 5327 Vacancy Allowance 0 Vacancy Allowance Rate 0 Water Sewer Expense 7987 Zoning Lard1.5

Listing provided courtesy of Hagop Baboudjian of Baboudjian Properties Inc.


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-28T00:27:02.387. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
 
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