We are pleased to present 924 N. Kingsley Dr in the East Hollywood submarket of Los Angeles. The offering consists of (4) 1 Bed / 1 Bath and (4) 2 Bed / 1 Bath units. The property was built in 1956 and is 6,676 square feet of gross leasable area and sits on a large 9,660 square foot lot that is zoned LAR3. An investor will benefit from good in place cash flow with a starting cap rate of 5.4% with approximately 33% upside in rent potential. With it’s excellent unit mix, day 1 return and location, the building is positioned for strong long term growth. Attractive assumable financing available with loan amount of $2,451,000 at a 3.49% interest rate fixed until April 2027.
The subject property is situated in the East Hollywood submarket of Los Angeles. It is a popular neighborhood located in central Los Angeles and known for its diverse community, proximity to major employment centers, and convenient access to transportation options. The area has experienced significant growth in recent years, attracting young professionals, artists, and students. It’s proximity to major employment centers, and convenient access to transportation options make this an ideal rental market for landlords and investors.
924 N. Kingsley is part of a 4 building Portfolio that includes 743 S. Berendo(16 Units), 428-432 Witmer(8 Units), and 4533 Pickford(17 Units). Properties can be sold individually or together as a portfolio.
