1758 N. Kingsley, a significant value-add opportunity featuring a front duplex and a back structure comprised of 6 UNITS SUBJECT ONLY TO AB1482 (built in 1987). Located 1/2 block South of Franklin Ave, the property is minutes from several neighborhood hubs. The property features (8) 2-Bdrm. and 2-Bath units spread across a front duplex and back three-story structure. The back structure, featuring 6 units, was built in 1987 and are SUBJECT ONLY TO AB1482. Current rents are approx. 52% below market rates compared to renovated units in the area. Please note, there is 1 VACANT unit which has been upgraded with fresh paint, wood flooring, custom cabinets and quartz countertops. Property amenities include secured and gated entry, covered parking and a community laundry room.
(8) 2-Bdrm Units w/ 52% Upside in Rents
1758 N. Kingsley Drive, Los Angeles
Property Details
Price $3,800,000
Year Built 1987
# of Units 8
Price P/ Unit $475,000
Sq. ft. 8,466 SF
Price p/ Sq. ft. $449
Current Cap Rate 3.03%
Proforma Cap Rate 5.48%
Lot Size 10,840 SF
Zoning LAR3
About the Property
