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1621 N Kingsley Drive

Los Angeles (City), CA 90027
  • $1,150,000
  • STATUS: Active
  • ON SITE: 37 Days
  • ID#: AR22072648
UPDATED: 26 min ago
$1,150,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1917
County:

School Ratings & Info

Listing Agent(s): Justin Mccardle of Gig Real Estate Inc. (626-594-4901)


Description

Prime Value Add off Hollywood Blvd- this unique opportunity to a acquire this charming 5 unit building near trendy Los Feliz- in the heart of Thai Town. This property has been well maintained and in the same family for almost 50 years. There are 3 freestanding 1 bedroom bungalows, and a two story duplex in the back of the property, each with 1 bedroom. All tenants are long term with very low rents, creating an opportunity for the next owner over 200% of rental upside upon completion of renovations appropriate for the market. Each unit is individually metered for gas and electricity. The property has a small community type feel with the open lawn space and freestanding units, giving tenants an element of privacy within a small space. The layout can give the next owner with the appropriate vision to create very special private houses for tenants with their own patio space. The area has a high rental demand based on its proximity to everything Hollywood has to offer! This property is ready to be passed onto the next owner for the next 50 Years. Attractive bridge debt available!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-19T23:30:44.243. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
www.northsdrealty.com/homes/127590903
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1621 N Kingsley Drive Los Angeles (City), CA 90027

  • Price: $1,150,000
  • Status: Active
  • On Site: 37 Days
  • Updated: 26 min ago
  • ID#: AR22072648
0
Beds
0
Baths
0
½ Baths
0.16
Acres
1917
Built
Neighborhood:
637 - Los Feliz
County:
Los Angeles
Area:
637 - Los Feliz
Property Description
Prime Value Add off Hollywood Blvd- this unique opportunity to a acquire this charming 5 unit building near trendy Los Feliz- in the heart of Thai Town. This property has been well maintained and in the same family for almost 50 years. There are 3 freestanding 1 bedroom bungalows, and a two story duplex in the back of the property, each with 1 bedroom. All tenants are long term with very low rents, creating an opportunity for the next owner over 200% of rental upside upon completion of renovations appropriate for the market. Each unit is individually metered for gas and electricity. The property has a small community type feel with the open lawn space and freestanding units, giving tenants an element of privacy within a small space. The layout can give the next owner with the appropriate vision to create very special private houses for tenants with their own patio space. The area has a high rental demand based on its proximity to everything Hollywood has to offer! This property is ready to be passed onto the next owner for the next 50 Years. Attractive bridge debt available!
Exterior Features

Lot Features Near Public Transit Number Of Separate Electric Meters 5 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Common Interest None Community Features SidewalksUrban Electric Expense 1200 Fuel Expense 200 Garage YN No Gross Income 39900 Gross Scheduled Income 39900 Insurance Expense 2506 Land Lease YN No Laundry Features None Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Net Operating Income 12348 New Construction YN No Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Operating Expense 26355 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Water Sewer Expense 4560 Water Source Public Zoning Lard1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-19T23:30:44.243. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): Justin Mccardle of Gig Real Estate Inc. (626-594-4901)