CA > Los Angeles
Los Angeles, CA 90004,634 N Kingsley Dr
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Los Angeles, CA 90004,634 N Kingsley Dr
Los Angeles, CA 90004,634 N Kingsley Dr
Los Angeles, CA 90004,634 N Kingsley Dr
Los Angeles, CA 90004,634 N Kingsley Dr
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Brandon Arlington

Brandon Arlington

+1(781) 385-0196
$ 3,395,000
Est. payment /mo
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Active

634 N Kingsley Dr Los Angeles, CA 90004

16 Beds

16 Baths

11,564 SqFt

UPDATED:

09/11/2024 07:01 AM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 11,564 sqft

Price per Sqft $293

MLS Listing ID 24-434731

Bedrooms 16

Year Built 1954

Lot Size 0.293 Acres

Acres 0.2933

Property Description

Presenting an exceptional investment opportunity at 634 North Kingsley Drive, a well-managed 16-unit multifamily property located in the heart of Mid-Wilshire. Built in 1954, this asset comprises 16 one-bedroom/one-bathroom units, with upgraded units featuring laminate flooring, granite countertops, wall-mounted HVAC systems, and modern kitchen appliances. The property offers significant value-add potential, with current rents approximately 35% below market rates. A vacant unit provides an immediate opportunity for renovation and income maximization. Recent lease agreements for units 3 and 15, at $1,995 per month, affirm the market rent for the area. With the last 4% rental increase implemented in February 2024, a new investor will have the opportunity to further increase rents in February 2025. Key property features include parking for 13 vehicles, an on-site laundry facility, and individually metered gas and electric utilities for each unit. Notably, the property requires no soft story retrofit, minimizing potential capital expenditures. The property boasts a "Walk Score" of 90, with close proximity to shops, restaurants, and retail along Melrose Avenue and Beverly Boulevard. It is also conveniently situated within a short drive of Hollywood, Downtown Los Angeles, West Hollywood, and Beverly Hills, and is within walking distance of the Metro B Line (Red) at Vermont/Beverly Station.

Location

State CA

County Los Angeles

Area Mid-Wilshire

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Wall Unit(s)

Equipment Ceiling Fan, Dishwasher, Range/Oven, Refrigerator

Exterior

Garage Assigned

Garage Spaces 13.0

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Westside Estate Agency Inc.