634 North Kingsley Drive

Los Angeles, CA 90004

$3,395,000
Price
16
Beds
16
Baths
11,564 Sq. Ft.
$294 / Sq. Ft.
11,564
Sq. Ft.
$294
per Sq. Ft.

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.
  1. Listed by Trevor Bergher • DRE #02103899 • Brokerage DRE #00388759 • Westside Estate Agency Inc.

Property Details for 634 North Kingsley Drive

Zoning
LAR3
Parcel Number
5521007022
Total Units
16.0
Living Area
11564
Source Living Area
Vendor Enhanced
Area
Mid-Wilshire (C17)
Vacancy Rate
1
Lot Size Area
12774
LISTING UPDATED: 09/10/2024 02:57 PM

Property Details for 634 North Kingsley Drive

StatusActive
MLS #24-434731
Days on Market58
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1954
Lot Size0.29 AC / 12,774 SF
CountyLos 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

Community / Development
Community / Development
  • Number Of Units: 16
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 1-Bedroom
Contract Info
Contract Info
  • Disclosures: As Is, LA/Owner Related, Owner Has R.E. License
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $282,708
  • Net Operating Income: $177,225.00
  • Gross Income: $288,681
  • Cap Rate: 5.22%
  • Gross Rent Multiplier: $11.70
  • Total Annual Expense: 102975
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2933
  • Lot Size Square Feet: 12774
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 13
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Ceiling Fan, Dishwasher, Range/Oven, Refrigerator
  • Interior Features: Ceiling Fan(s)
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-03-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,995.00
  • Unit Actual Rent: $5,985.00
  • Unit Projected Rent: $5,985.00
  • Like Units: 3
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,658.00
  • Unit Actual Rent: $4,974.00
  • Unit Projected Rent: $5,985.00
  • Like Units: 3
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,612.00
  • Unit Actual Rent: $1,612.00
  • Unit Projected Rent: $1,995.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,465.00
  • Unit Actual Rent: $1,465.00
  • Unit Projected Rent: $1,995.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,250.00
  • Unit Actual Rent: $1,250.00
  • Unit Projected Rent: $1,995.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,226.00
  • Unit Actual Rent: $1,226.00
  • Unit Projected Rent: $1,995.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,201.00
  • Unit Actual Rent: $1,201.00
  • Unit Projected Rent: $1,995.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,199.00
  • Unit Actual Rent: $2,398.00
  • Unit Projected Rent: $3,990.00
  • Like Units: 2
Unit 9 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,194.00
  • Unit Actual Rent: $1,194.00
  • Unit Projected Rent: $1,995.00
  • Like Units: 1
Unit 10 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,127.00
  • Unit Actual Rent: $2,254.00
  • Unit Projected Rent: $3,990.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114, 2115
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $831,727.00
  • Assessed Improvement Percent: 30.0
  • Assessed Land Value: $1,940,700.00
  • Assessed Land Percent: 70
  • Assessed Total Value: $2,772,427.00

Property History for 634 North Kingsley Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

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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634 North Kingsley Drive is a multi-family home for sale in Los Angeles, CA 90004. This property was listed for sale on September 3, 2024 by Westside Estate Agency Inc., it's currently listed at $3,395,000. It has been on the market for a total of 58 days and was last sold on March 2, 2015. This listing's school district is Los Angeles Unified School District. Nearby schools include Harvard Elementary School, Virgil Middle School and Contreras Learning Center-School Of Social Justice. 634 North Kingsley Drive is a 16-bed, 16-bath, 11,564 sqft multi-family home built in 1954.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Westside Estate Agency Inc., Trevor Bergher, DRE #02103899

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.