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$ 7,600,000
Est. payment | /mo
3 Beds
4 Baths
0.42 Acres Lot
$ 7,600,000
Est. payment | /mo
3 Beds
4 Baths
0.42 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26184407
Bedrooms 3
Lot Size 0.416 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
The Mogharebi Group is pleased to present the exclusive offering of 1757 N Kingsley Drive, a 27-unit multifamily investment opportunity strategically located at the intersection of Hollywood, Los Feliz and East Hollywood. The property is offered at $7,600,000 and consists of approximately 13,168 rentable square feet on a 0.42-acre lot. Built in 1968, the property features a desirable unit mix heavily weighted toward one-bedroom apartments. The unit mix consists of 20 one-bedroom/one-bath units, six studios and one two-bedroom/one-bath unit. The property is well maintained and partially renovated, with select interiors featuring quartz countertops, stainless steel appliances, designer backsplashes, laminate/hardwood flooring, double-pane windows and modern finishes. The property's earthquake/seismic retrofit has been completed, providing a significant capital improvement for the next owner. Community amenities include a swimming pool and spa, outdoor BBQ/picnic area, controlled-access entry, on-site laundry and 27 parking spaces, providing a 1:1 parking ratio. At the asking price, the offering reflects a 5.32% current/pro forma capitalization rate with approximately 9.8% loss-to-lease, providing an investor with meaningful potential to increase NOI as rents are recaptured. The property was reported at 100% occupancy in the offering financials. The location provides excellent access to the Hollywood/Western Metro station, the 101 and 5 Freeways and major employment and entertainment centers. Nearby employers and institutions include Netflix, Paramount, CBS, Capitol Records, S
Location
State CA
County Los Angeles
Zoning Assessor
Direction Hollywood blvd to Kingsley north
Interior
Cooling Wall/Window
Fireplace No
Exterior
Pool Community/Common
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5544010028
Acceptable Financing Cash
Listing Terms Cash
Listed by Mike Marcu, DRE#00919594 Mike Marcu, Broker
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Keegan Wetzel
Founder | Naval Academy | OIF Veteran License ID: 02153342