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719 N Kingsley Dr

Los Angeles, CA 90029
  • $2,300,000
  • STATUS: Active
  • ON SITE: 13 Days
  • ID#: 21-791652
UPDATED: 107 min ago
$2,300,000
  • 13
    BEDS
  • 0.2
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,356
    SQFT
  • $313
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1956
County:
Area:

School Ratings & Info

Description

We are pleased to present the opportunity to acquire 719 N. Kingsley Drive, a 9-unit multifamily investment property located in Hollywood, a prime rental market in Los Angeles. Built in 1956, the property offers nearly 7,356 square feet of living space across a renter-friendly unit mix featuring six (6) one-bedroom, one-bath units, two (2) two-bedroom, one-bath units, and one (1) three-bedroom, one-and-a-half-bath unit. The property sits on a 8,773 square foot lot and consists of one two-story structure. The property features on-site parking and an on-site laundry room that is paired with exceptional curb appeal making it an ideal living space for urban tenants. The subject property is ideally suited to a value-add upgrade program. Investors will have the opportunity to implement a systematic renovation program focused on revenue generating improvements, reposition the property among market leaders, and increase rental income by approximately 30 percent. Current ownership has completed all required seismic retrofit repairs (Buyer to Verify). 719 N. Kingsley is located North of Melrose Avenue and East of Western Avenue, providing easy access to the 101 Freeway and surrounding retailers and restaurants. The offering is adjacent to some of Los Angeles's most exciting submarkets and provides investors the rare opportunity to own a well-maintained asset with substantial rental upside.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-17T23:42:31.657. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.theparsonsrealestateteam.com/homes/122084280
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719 N Kingsley Dr Los Angeles, CA 90029

  • Price: $2,300,000
  • Status: Active
  • Updated: 107 min ago
  • ID#: 21-791652
13
Beds
0
Baths
0
½ Baths
0.2
Acres
7,356
SQFT
$313
$/SQFT
1956
Built
Neighborhood:
Hollywood
County:
Los Angeles
Area:
Hollywood
Property Description
We are pleased to present the opportunity to acquire 719 N. Kingsley Drive, a 9-unit multifamily investment property located in Hollywood, a prime rental market in Los Angeles. Built in 1956, the property offers nearly 7,356 square feet of living space across a renter-friendly unit mix featuring six (6) one-bedroom, one-bath units, two (2) two-bedroom, one-bath units, and one (1) three-bedroom, one-and-a-half-bath unit. The property sits on a 8,773 square foot lot and consists of one two-story structure. The property features on-site parking and an on-site laundry room that is paired with exceptional curb appeal making it an ideal living space for urban tenants. The subject property is ideally suited to a value-add upgrade program. Investors will have the opportunity to implement a systematic renovation program focused on revenue generating improvements, reposition the property among market leaders, and increase rental income by approximately 30 percent. Current ownership has completed all required seismic retrofit repairs (Buyer to Verify). 719 N. Kingsley is located North of Melrose Avenue and East of Western Avenue, providing easy access to the 101 Freeway and surrounding retailers and restaurants. The offering is adjacent to some of Los Angeles's most exciting submarkets and provides investors the rare opportunity to own a well-maintained asset with substantial rental upside.
Exterior Features

Lot Size Area 8774 Other Structures None Parking Garage Assigned Total Parking 9

Interior Features

Baths Total 10.00 Cooling Air Conditioning Equipment Other Heating Other

Property Features

Assessed Total Value 570019 Gross Income 150648 Gross Operating Income 146165 Like Units1 1 Like Units2 2 Like Units3 6 Net Operating Income 89983.00 Number Of Buildings 1 Number Of Units 9 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 56182 Type Of Units Residential Year Built Source Assessor Zoning Lard1.5

Listing provided courtesy of Oscar Diaz DRE# of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-17T23:42:31.657. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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The Parsons Team | Keller Williams Realty
251 S. Lake Ave #150
Pasadena CA, 91101