Investment Overview

Marcus & Millichap is pleased to exclusively present for purchase 926-932 N Kingsley Dr, a multifamily development opportunity in the heart of East Hollywood. This vacant lot consists of approximately 17,730 square feet of R3-1XL zoned land. The project will be delivered shovel ready with plans (RTI) for a well-designed four-story apartment building with on grade parking, keeping construction costs down. A buyer will have no demolition or relocation costs. This development entails 37-units: 25 one-bedroom/one-bathroom units, 10 two-bedroom/two bathroom units, and 2 three-bedroom/two-bathroom units. Of those, four units will be designated for Extremely Low-Income. The property is conveniently located north of Highway 101 and south of Santa Monica Boulevard just west of Los Angeles City College. This neighborhood is home to traditional restaurants, farm-to-table eateries, and laid-back cafes which, along with affordability aspect, attracts many young professionals. The area is served by Metro B Line subway which runs north-south along Vermont Avenue and east west along Hollywood Boulevard and offers over a dozen bus lines on the major thoroughfares.