1315 N Kingsley detail shot of front steps, metal gate, and house numbers.

SUCCESS STORY

Succesul Marketing Generates Eight Offers

1315 N Kingsley Dr.

With KST's network of savvy multifamily investors, we were able to generate over 8 offers throughout the duration of the listing.

Offering Price
$1,310,000

City

East Hollywood

Current CAP

4.70

Price per unit

$262,000

Lot Size

5,063 SF

1315 n kingsley

About the Property

1315 N Kingsley Dr was a 5-unit owner-user property located just north of Fountain Avenue. Sitting on a 8,478 SF lot, the property featured (1) VACANT three-bedroom and two bath single-family home and (4) studio units spread across two structures. Property amenities included a large shared driveway, community yard and (2) one-car garages that had the opportunity to be converted to ADUs. 1315 N. Kingsley presented a value-add opportunity, as current rents were approx. 20% below market value compared to renovated units in the area.

Offering Price

$1,310,000

Number of Units

5 Units

Bldg. Size

3,230 SF

Price per Foot

$406

Year Built

1955

Market CAP

6.06

Zoning

LAR3

Background

After owning the property for a number of years and about to enter retirement, the Seller decided it was a good time to cash out. The property was previously listed with a big-box commercial brokerage for four months and generated zero offers.

1315 N Kingsley detail shot of front steps, metal gate, and house numbers.
1315 N Kingsley detail shot of front steps, metal gate, and house numbers.
1315 N Kingsley detail shot of front steps, metal gate, and house numbers.

Result

With KST’s network of savvy multifamily investors, Max was able to generate over 8 offers throughout the duration of the listing. Ultimately, the seller decided to accept an offer at 96% of the listed price. Meanwhile, the buyer is going to renovate the building over time to capture the significant financial upside.

Rear unit of 1315 N Kingsley with garden and stairs.
Rear unit of 1315 N Kingsley with garden and stairs.
Rear unit of 1315 N Kingsley with garden and stairs.

Here You Find All The Things We Do at One Place

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Sold in 40 Days to All-Cash Buyer in the SFV

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.

© Copyright 2024.