$6,100,000

1250 N Kingsley Drive, Los Angeles, CA 90029

15,812

Lot Size

24

# Of Units

1250 N. Kingsley, Kingsley Terrace, is a 24-unit two story complex with ample parking (34 spaces for 24 units). Close to all the action in Hollywood, this charming complex is a gated and features a recently-resurfaced swimming pool, a laundry room and balcony units in the rear of the property. There is a current vendor agreement in place for seismic retrofitting that can be assigned to new buyer. A 10%deposit has been paid toward the cost of the work leaving a balance of $67,500. The building is separately metered for gas and electric. ALL UNITS HAVE AIR CONDITIONING! This property is part of a 10-property portfolio totaling 186 units. Most of the properties are in the 90029 & 90006 zip codes of Los Angeles, CA. These well-located properties offer convenient access to Downtown Los Angeles & Mid-Wilshire and can be managed efficiently due to their proximity to one another. The properties are well maintained and have had many exterior and interior improvements. There is still +28% upside to be realized as units turn and the opportunity to construct two additional units already permitted at 1006 Mariposa. This infill multifamily portfolio is in an improving submarket in LA and gives an investor diversification amongst 12 different APNs and proven upside through continued unit turns.

Facts & Features

MLS® # 21760746
Price $6,100,000
Bathrooms 0.00
Lot Size 15,812
Year Built 1960
Type Residential Income
Status Active
# Of Units 24

Community Information

Address 1250 N Kingsley Drive
Area C20 - Hollywood
City Los Angeles
County Los Angeles
State CA
Zip Code 90029

Amenities

Parking Covered, Garage, Side By Side, Tandem
Garages Covered, Garage, Side By Side, Tandem
Is Waterfront No
Has Pool Yes
Pool Fenced, In Ground

Interior

Appliances Microwave
Has Basement No
Fireplace No
# of Stories 2

Additional Information

Date Listed July 14th, 2021
Days on Market 17
Zoning LARD1.5
Foreclosure No
Short Sale No
RE / Bank Owned No
HOA Fees 0.00

Listing Details

AgentDavid Kaufman
OfficeDavid Ballin Kaufman

Listing Map

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