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… Read More 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. Read Less
Property listed by Westside Estate Agency Inc., Trevor Bergher 310-247-7770
Listing Snapshot
Days Online
63
Last Updated
Property Type
Other
Beds
16
Square Ft.
11,564
Lot Size
0.29 Acres
Year Built
1954
MLS Number
25513042
30 Days Snapshot Of 90004
$2.84M
+87%
(avg) sold price
5
-58%
homes sold
62
-15%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dishwasher, Refrigerator
Building
Built in 1954, Building area total: 11,564, Levels: Two, Living area: 11564, 2 stories, 1 building
Cooling
WallWindowUnits
Heating
WallFurnace
Income
Gross income: $307,411, Net operating income: $192,712
Interior Features
CeilingFans
Lot
0.2933 acres, 12,774 square feet, Size: 12,774
Parking
13 totals parking, Assigned
Property
Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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