634 North Kingsley Drive
$3,395,000
16
16
11,564
11,564
$294
Description
Presenting an exceptional investment opportunity at 634 North Kingsley Drive, a well-managed 16-unit multifamily property located in the heart of Mid-Wilshire. Built in 1954, this asset comprises 16 one-bedroom/one-bathroom units, with upgraded units featuring laminate flooring, granite countertops, wall-mounted HVAC systems, and modern kitchen appliances. The property offers significant value-add potential, with current rents approximately 35% below market rates. A vacant unit provides an immediate...Presenting an exceptional investment opportunity at 634 North Kingsley Drive, a well-managed 16-unit multifamily property located in the heart of Mid-Wilshire. Built in 1954, this asset comprises 16 one-bedroom/one-bathroom units, with upgraded units featuring laminate flooring, granite countertops, wall-mounted HVAC systems, and modern kitchen appliances. The property offers significant value-add potential, with current rents approximately 35% below market rates. A vacant unit provides an immediate opportunity for renovation and income maximization. Recent lease agreements for units 3 and 15, at $1,995 per month, affirm the market rent for the area. With the last 4% rental increase implemented in February 2024, a new investor will have the opportunity to further increase rents in February 2025. Key property features include parking for 13 vehicles, an on-site laundry facility, and individually metered gas and electric utilities for each unit. Notably, the property requires no soft story retrofit, minimizing potential capital expenditures. The property boasts a "Walk Score" of 90, with close proximity to shops, restaurants, and retail along Melrose Avenue and Beverly Boulevard. It is also conveniently situated within a short drive of Hollywood, Downtown Los Angeles, West Hollywood, and Beverly Hills, and is within walking distance of the Metro B Line (Red) at Vermont/Beverly Station.
- Listed by Trevor Bergher • DRE #02103899 • Brokerage DRE #00388759 • Westside Estate Agency Inc.
Property Details for 634 North Kingsley Drive
Zoning
LAR3
Parcel Number5521007022
Total Units16.0
Living Area11564
Source Living AreaVendor Enhanced
AreaMid-Wilshire (C17)
Vacancy Rate1
Lot Size Area12774
LISTING UPDATED: 09/10/2024 02:57 PM
Property Details for 634 North Kingsley Drive
Status | Active |
---|---|
MLS # | 24-434731 |
Days on Market | 58 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1954 |
Lot Size | 0.29 AC / 12,774 SF |
County | Los Angeles County |
Building Information for 634 North Kingsley Drive
Stories2Residences-Year Built1954Building Size-Lot Size0.29 AC / 12,774 SF
Property Information for 634 North Kingsley Drive
Property History for 634 North Kingsley Drive
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 634 North Kingsley Drive
Taxable ValueLand$1,979,514Additions$848,561Total$2,828,075
Tax Record2024$35,808 ($2,984 / month)
Home Facts
Total Finished SqFt11,564 SqFtAbove Grade Finished SqFt11,564 SqFtLot Size12,770 SqFtStyleMulti-Family Res (5+ Units)Year Built1954ZoningLAR3CountyLOS ANGELESAPN5521-007-022
Schools near 634 North Kingsley Drive
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Harvard Elementary School PublicK to 5 | ||
Virgil Middle School Public6 to 8 | ||
Contreras Learning Center-School Of Social Justice Public9 to 12 | ||
Academic Leadership Community School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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