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1250 N Kingsley Drive

Los Angeles (City), CA 90029
  • $6,100,000
  • STATUS: Active
  • ON SITE: 143 Days
  • ID#: 21760746
UPDATED: 16 min ago
$6,100,000
  • 0
    BEDS
  • 0.36
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1960
County:

School Ratings & Info

Listing Agent: David Kaufman of David Ballin Kaufman


Description

1250 N. Kingsley, Kingsley Terrace, is a 24-unit two story complex with ample parking (34 spaces for 24 units). Close to all the action in Hollywood, this charming complex is a gated and features a recently-resurfaced swimming pool, a laundry room and balcony units in the rear of the property. There is a current vendor agreement in place for seismic retrofitting that can be assigned to new buyer. A 10%deposit has been paid toward the cost of the work leaving a balance of $67,500. The building is separately metered for gas and electric. ALL UNITS HAVE AIR CONDITIONING! This property is part of a 10-property portfolio totaling 186 units. Most of the properties are in the 90029 & 90006 zip codes of Los Angeles, CA. These well-located properties offer convenient access to Downtown Los Angeles & Mid-Wilshire and can be managed efficiently due to their proximity to one another. The properties are well maintained and have had many exterior and interior improvements. There is still +28% upside to be realized as units turn and the opportunity to construct two additional units already permitted at 1006 Mariposa. This infill multifamily portfolio is in an improving submarket in LA and gives an investor diversification amongst 12 different APNs and proven upside through continued unit turns.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-05T18:25:55.747. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
www.themarellygroup.com/homes/119305129
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1250 N Kingsley Drive Los Angeles (City), CA 90029

  • Price: $6,100,000
  • Status: Active
  • On Site: 143 Days
  • Updated: 16 min ago
  • ID#: 21760746
0
Beds
0
Baths
0
½ Baths
0.36
Acres
1960
Built
Neighborhood:
C20 - Hollywood
County:
Los Angeles
Area:
C20 - Hollywood
Property Description
1250 N. Kingsley, Kingsley Terrace, is a 24-unit two story complex with ample parking (34 spaces for 24 units). Close to all the action in Hollywood, this charming complex is a gated and features a recently-resurfaced swimming pool, a laundry room and balcony units in the rear of the property. There is a current vendor agreement in place for seismic retrofitting that can be assigned to new buyer. A 10%deposit has been paid toward the cost of the work leaving a balance of $67,500. The building is separately metered for gas and electric. ALL UNITS HAVE AIR CONDITIONING! This property is part of a 10-property portfolio totaling 186 units. Most of the properties are in the 90029 & 90006 zip codes of Los Angeles, CA. These well-located properties offer convenient access to Downtown Los Angeles & Mid-Wilshire and can be managed efficiently due to their proximity to one another. The properties are well maintained and have had many exterior and interior improvements. There is still +28% upside to be realized as units turn and the opportunity to construct two additional units already permitted at 1006 Mariposa. This infill multifamily portfolio is in an improving submarket in LA and gives an investor diversification amongst 12 different APNs and proven upside through continued unit turns.
Exterior Features

Parking Features CoveredGarageSide By SideTandem Pool Features FencedIn Ground Pool Private YN No

Interior Features

Appliances Microwave

Property Features

Garage YN Yes Gross Income 406148 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 243760 Senior Community YN No Special Listing Conditions Standard Zoning Lard1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-05T18:25:55.747. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
 
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The Marelly Group | Sentry Residential
5256 South Mission Rd, Suite 1006
Bonsall CA, 92003
Listing Agent: David Kaufman of David Ballin Kaufman