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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$7,600,000

Est. payment - /mo

0.42 Acres Lot

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Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26184407

HOA Y/N No

Year Built 1968

Lot Size 0.416 Acres

Property Sub-Type Apartment

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, Sunset Bronson Studios, KTLA and LA DWP, while Target, Ralphs, Starbucks, Chase Bank and other daily amenities are within the surrounding walkable neighborhood.

1757 N Kingsley Drive offers investors the opportunity to acquire a well-located Hollywood multifamily asset combining existing cash flow, rental upside, completed seismic improvements, a strong unit mix and long-term investment fundamentals in one of Los Angeles' most established rental submarkets.

Location

State CA

County Los Angeles

Area C20 - Hollywood

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Laundry Common Area

Exterior

Parking Features Assigned

Carport Spaces 12

Pool Community, Fenced

Community Features Gutter(s), Street Lights, Sidewalks, Urban, Pool

Utilities Available Sewer Connected

Total Parking Spaces 27

Private Pool No

Building

Lot Description Over 40 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5544010028

Energy Description 5500.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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Listed by Mike Marcu Mike Marcu, Broker 949 688 1224, DRE #00919594

NEARBY SCHOOL & BUSINESS

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1757 N Kingsley Los Angeles, CA 90027