Property
| Ownership: | For Sale |
|---|---|
| Bedrooms: | 16 BR |
| Bathrooms: | 16 |
| Area: | 12774 sq ft |
| Lot Size: | 0.29 Acres |
FinancialsPrice:$3,295,000
DescriptionPresenting 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 29% below market rates. One renovated vacant unit provides an immediate opportunity for income maximization. Recent lease agreements for units 3, 15 and 17 affirm the market rent for the area. 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.
NeighborhoodMore listings:
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 29% below market rates. One renovated vacant unit provides an immediate opportunity for income maximization. Recent lease agreements for units 3, 15 and 17 affirm the market rent for the area. 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.
634 N Kingsley Dr 16.0 Hancock Park LA
DescriptionPresenting 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 29% below market rates. One renovated vacant unit provides an immediate opportunity for income maximization. Recent lease agreements for units 3, 15 and 17 affirm the market rent for the area. 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.
NeighborhoodMore listings:
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 29% below market rates. One renovated vacant unit provides an immediate opportunity for income maximization. Recent lease agreements for units 3, 15 and 17 affirm the market rent for the area. 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.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
