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Listed by Mike Marcu, DRE #00919594 • Mike Marcu, Broker
$ 7,250,000
Est. payment /mo
Price Dropped by $350K
1757 N Kingsley Los Angeles, CA 90027
0.42 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26184407
Year Built 1968
Lot Size 0.416 Acres
Source California Regional MLS
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 $7,250,000 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 5.63% 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. T
Location
State CA
County Los Angeles
Area C20 - Hollywood
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Laundry Community Facility
Exterior
Parking Features Assigned Spaces
Garage Spaces 27.0
Pool Pool - Fenced, Community Facility
Building
Water District - Public
Others
Tax ID 5544010028
Special Listing Condition Not Applicable
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