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Multifamily

719 N Kingsley Drive

719 N Kingsley Drive, Los Angeles, CA 90029

Listing Price: $2,400,000

Cap Rate
4.19%
Number of Units
9
Price/Unit
$266,667
Price/Gross SF
$326.26
Gross SF
7,356

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 719 N. Kingsley Drive, a 9-unit multifamily investment property located in Hollywood, a prime rental market in Los Angeles. Built in 1956, the property offers nearly 7,356 square feet of living space across a renter-friendly unit mix featuring six (6) one-bedroom, one-bath units, two (2) two-bedroom, one-bath units, and one (1) threebedroom, one-and-a-half-bath unit. The property sits on a 8,773 square foot lot and consists of one two-story structure. The property features on-site parking and an on-site laundry room that is paired with exceptional curb appeal making it an ideal living space for urban tenants. The subject property is ideally suited to a value-add upgrade program. Investors will have the opportunity to implement a systematic renovation program focused on revenue generating improvements, reposition the property among market leaders, and increase rental income by approximately 30 percent. Current ownership has completed all required seismic retrofit repairs (Buyer to Verify). 719 N. Kingsley is located North of Melrose Avenue and East of Western Avenue, providing easy access to the 101 Freeway and surrounding retailers and restaurants. The offering is adjacent to some of Los Angeles’ most exciting submarkets and provides investors the rare opportunity to own a well-maintained asset with substantial rental upside.

Investment Highlights

  • Approximately 30% rental upside remaining
  • Separately metered for electricity and gas
  • On-site laundry facilities and parking allow avenues for additional income
  • Seismic Retrofit Complete

Exclusively Listed By

Listing Price: $2,400,000

Cap Rate
4.19%
Number of Units
9
Price/Unit
$266,667
Price/Gross SF
$326.26
Gross SF
7,356

Investment Highlights

  • Approximately 30% rental upside remaining
  • Separately metered for electricity and gas
  • On-site laundry facilities and parking allow avenues for additional income
  • Seismic Retrofit Complete

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 719 N. Kingsley Drive, a 9-unit multifamily investment property located in Hollywood, a prime rental market in Los Angeles. Built in 1956, the property offers nearly 7,356 square feet of living space across a renter-friendly unit mix featuring six (6) one-bedroom, one-bath units, two (2) two-bedroom, one-bath units, and one (1) threebedroom, one-and-a-half-bath unit. The property sits on a 8,773 square foot lot and consists of one two-story structure. The property features on-site parking and an on-site laundry room that is paired with exceptional curb appeal making it an ideal living space for urban tenants. The subject property is ideally suited to a value-add upgrade program. Investors will have the opportunity to implement a systematic renovation program focused on revenue generating improvements, reposition the property among market leaders, and increase rental income by approximately 30 percent. Current ownership has completed all required seismic retrofit repairs (Buyer to Verify). 719 N. Kingsley is located North of Melrose Avenue and East of Western Avenue, providing easy access to the 101 Freeway and surrounding retailers and restaurants. The offering is adjacent to some of Los Angeles’ most exciting submarkets and provides investors the rare opportunity to own a well-maintained asset with substantial rental upside.

Exclusively Listed By

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