634 N Kingsley Drive, Los Angeles, CA 90004
-
Listed Price :
$3,395,000
-
Beds :
16
-
Baths :
16
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Property Size :
11,564 sqft
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Year Built :
1954
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.
Interior Features
| Bedroom Information |
| Bedrooms |
16 |
| Bathroom Information |
| Bathrooms |
16 |
| Interior Information |
| Features |
Ceiling Fan(s) |
Listing Information
| Address |
634 N Kingsley Drive |
| City |
Los Angeles |
| State |
CA |
| Zip |
90004 |
| County |
Los Angeles |
| Listing Agent |
Trevor Bergher DRE #02103899 |
| Courtesy Of |
Westside Estate Agency Inc. |
| List Price |
$3,395,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
11,564 |
| Lot Size |
12,774 |
| Year Built |
1954 |
Listing information courtesy of: Trevor Bergher, Westside Estate Agency Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 11th, 2024 at 12:07 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.
