634-636 Kingsley Dr, Los Angeles, CA 90004
16 Unit Apartment Building | $3,395,000 ($212,188/Unit) | 4.79% Cap Rate | Los Angeles, CA 90004
For Sale
Active
14 pictures
Asking Price $3,395,000
- Property Type
-
Multifamily
- Square Feet
- 11,564 SF
Listing Contacts
Trevor Bergher
Property Overview
Introducing the opportunity to purchase 634 North Kingsley Drive, a value add and professionally managed 16- unit multifamily asset located in the heart of Mid-Wilshire. Built in 1954, the property consists of 16 one-bedroom/one-bathroom units that contain features such as laminate flooring, granite counters, window/wall-mounted HVAC and kitchen appliances. Current rents are approximately 42% under market with 1 vacant unit providing a new investor the opportunity to renovate units in order to maximize rental income. The property features parking for 13 vehicles and includes an on-site laundry facility. Units are individually metered for both gas and electric with water heaters in each unit. No soft story retrofit needed. The building boasts a Walk Score of 90 as it is located near many shops, restaurants and retail along both Melrose Ave and Beverly Blvd. The property is conveniently located and only a short drive away from neighborhoods such as Hollywood, Downtown, West Hollywood and Beverly Hills. It is also located within a short walk from the Metro B Line (Red) at Vermont/Beverly Station stop.
Property Details
- Class
- C
- Year Built
- 1954
- Stories
- 2
- Lot Size (sq. ft)
- 12,632 SF
- Units
- 16
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