1150 Kingsley DrLos Angeles, CA 90029

Property Details for 1150 Kingsley Dr

Construction

WOOD

Lot size

0.18 AC

Property size (Sq ft)

3,199 SF

Zone code

LARD1.5

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

5537-015-008

APU

5537015008

Description

This 6-unit apartment building in East Hollywood presents a compelling value-add opportunity. Priced at $1,299,999, this property offers significant upside potential. The 3,199 square foot building, constructed in 1928, sits on a spacious 7,895 square foot lot and is zoned LARD1.5. Four of the six units are vacant, allowing for immediate renovation and repositioning. The existing structure comprises two buildings: a five-unit front building and a single-unit rear building. All units are in need of significant repair. The property also includes four detached garages in the rear, which could be converted into additional dwelling units (ADUs). The large lot size further enhances the potential for ADU development. After renovation, the property is projected to generate at least $175,200 in annual rental income. Located in an Opportunity Zone, this investment offers potential tax advantages. The central location in East Hollywood, near Virgil Village and Melrose Hill, ensures strong rental demand. This property's combination of vacant units, ADU potential, and prime location makes it an exceptional value-add investment. The price per unit is $216,666.50, and the price per square foot is $406.38. The property's address is 1150 N Kingsley Drive, Los Angeles, CA 90029. The APN is 5537015008.

• CAP approach

  CAP return

  Valuation

  6%

  $1,170,024

  6.5%

  $1,080,022

  7%

  $1,002,878

• Comparable approach

  Method

  Valuation

  Relative Method

  $942,899

  Geo Method

  $942,899

• Alternative Use

  Use

  Valuation

  Residential

  $1,080,022

  Hospitality

  $989,295

  Educational

  $823,082

  Medical

  $851,389

  Retail

  $1,280,349

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.092

Longitude

-118.302

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].