0.42 Acres Lot
0.42 Acres Lot
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 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
