Multifamily

926-932 N Kingsley Dr

926-932 N Kingsley Dr, Los Angeles, CA 90029

Listing Price: $3,750,000

Cap Rate
4.00%
Number of Units
17,718
Price/Unit
$212
Price/Gross SF
$211.65
Gross SF
17,718

Investment Overview

Marcus & Millichap is pleased to present 926-932 N Kingsley Dr, a prime Transit Oriented Communities (TOC) Tier 2 multifamily development site in the heart of East Hollywood. This rare offering consists of two parcels totally 17,718 square feet of R3-1XL zoned land. The project will be delivered shovel ready with plans (RTI) for a welldesigned four-story apartment building. These 37-unit property will have 25 one-bedroom/one-bathroom units, 10 two-bedroom/two-bathroom units, and 2 three-bedroom/two-bathroom units. Four (4) units (1 onebedroom one-bathroom and 3 two-bedroom two-bathroom) shall be designated for Extremely Low Income Households, as defined by the Los Angeles Housing and Community Investment Department (HCIDLA) and California Government Code Section 65915(c)(2). 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. This area is served by Metro B Line subway which runs north-south along Vermont Avenue and east west along Hollywood Boulevard. Moreover, there are over a dozen bus lines on the major thoroughfares. East Hollywood is a densely populated neighborhood of 78,000+ residents. Almost two-thirds of the people living in this area were born outside of the United States of whom 90% are renters. This area positioned in the central region of Los Angeles and has seven public and five private schools, a branch of Los Angeles Public Library, and three hospitals: Kaiser Permanente Los Angeles Medical Center, Children’s Hospital Los Angeles, Hollywood Presbyterian Medical Center. This hidden gem will appeal to any investor/developer who wants to invest and develop in the area with strong rental demand and economic drivers.

Investment Highlights

  • PROJECT DELIVERED READY-TO-ISSUE
  • NO RENT CONTROL
  • CORNER LOT

Exclusively Listed By

Listing Price: $3,750,000

Cap Rate
4.00%
Number of Units
17,718
Price/Unit
$212
Price/Gross SF
$211.65
Gross SF
17,718

Investment Highlights

  • PROJECT DELIVERED READY-TO-ISSUE
  • NO RENT CONTROL
  • CORNER LOT

Investment Overview

Marcus & Millichap is pleased to present 926-932 N Kingsley Dr, a prime Transit Oriented Communities (TOC) Tier 2 multifamily development site in the heart of East Hollywood. This rare offering consists of two parcels totally 17,718 square feet of R3-1XL zoned land. The project will be delivered shovel ready with plans (RTI) for a welldesigned four-story apartment building. These 37-unit property will have 25 one-bedroom/one-bathroom units, 10 two-bedroom/two-bathroom units, and 2 three-bedroom/two-bathroom units. Four (4) units (1 onebedroom one-bathroom and 3 two-bedroom two-bathroom) shall be designated for Extremely Low Income Households, as defined by the Los Angeles Housing and Community Investment Department (HCIDLA) and California Government Code Section 65915(c)(2). 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. This area is served by Metro B Line subway which runs north-south along Vermont Avenue and east west along Hollywood Boulevard. Moreover, there are over a dozen bus lines on the major thoroughfares. East Hollywood is a densely populated neighborhood of 78,000+ residents. Almost two-thirds of the people living in this area were born outside of the United States of whom 90% are renters. This area positioned in the central region of Los Angeles and has seven public and five private schools, a branch of Los Angeles Public Library, and three hospitals: Kaiser Permanente Los Angeles Medical Center, Children’s Hospital Los Angeles, Hollywood Presbyterian Medical Center. This hidden gem will appeal to any investor/developer who wants to invest and develop in the area with strong rental demand and economic drivers.

Exclusively Listed By

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