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Listed by Everett Wong • Greysteel California, Inc.
$1,800,000
Est. payment /mo
7,896 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW25105374
Year Built 1962
Lot Size 7,896 Sqft
Source California Regional MLS
Property Description
1256 N. Kingsley Drive offers investors a value-add opportunity in the heart of rapidly developing East Hollywood. The property consists of 12 units (2 Two-Bedrooms, 4 One-Bedrooms and 6 Bachelor units) currently producing an average rent of just $1,130 per unit per month, presenting a significant rental upside of over 50% as units are brought to market rates upon unit turns. A new roof was installed in 2020, and the property offers 11 on-site parking spaces, including 2 tandem and 7 single spaces. With ample room for potential detached ADUs utilizing SB 1211 (buyer to verify), there's added development upside. The property is subject to the Los Angeles Seismic Retrofit Ordinance with plans have been submitted and construction pending. This is a strong repositioning play in one of LA's most dynamic rental submarkets.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Interior
Laundry Community Facility
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 5537014006
Special Listing Condition Not Applicable
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