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1150 N Kingsley Drive

Los Angeles, CA 90029
  • $1,299,999
  • STATUS: ACTIVE
  • ON SITE: 68 Days
  • ID#: SR24182288
UPDATED: 40 min ago
$1,299,999
  • 4
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

We are pleased to present the opportunity to acquire a fixer 6 unit apartment building in East Hollywood! 4 of the 6 units will be delivered VACANT and present the ideal situation for a buyer to remodel and renovate the vacant units right away! The building consists of 2 structures--the front building consists of 5 units and the back building consists of 1 unit. ALL the units are in a heavy fixer condition. There are also 4 detached garages in the back lot, which can be converted to one or more ADUs. The spacious +/- 7,895 sq. ft. lot. also presents the opportunity to build additional ADUs on the lot. Upon renovating and repositioning the units, the buyer can realize annual rental income of at least $175,200. Located in an Opportunity Zone, the building could provide potential tax benefits for a buyer! The buyer also has the option to revise the unit interior floor plans to maximize revenue. Given the building's central location in the bustling rental Hollywood rental market and close to Virgil Village, Melrose Hill, and the numerous establishments across Santa Monica Blvd., this is a value-add investment not to be missed! We are pleased to present the opportunity to acquire a fixer 6 unit apartment building in East Hollywood! 4 of the 6 units will be delivered VACANT and present the ideal situation for a buyer to remodel and renovate the vacant units right away! The building consists of 2 structures--the front building consists of 5 units and the back building consists of 1 unit. ALL the units are in a heavy fixer condition. There are also 4 detached garages in the back lot, which can be converted to one or more ADUs. The spacious +/- 7,895 sq. ft. lot. also presents the opportunity to build additional ADUs on the lot. Upon renovating and repositioning the units, the buyer can realize annual rental income of at least $175,200. Located in an Opportunity Zone, the building could provide potential tax benefits for a buyer! The buyer also has the option to revise the unit interior floor plans to maximize revenue. Given the building's central location in the bustling rental Hollywood rental market and close to Virgil Village, Melrose Hill, and the numerous establishments across Santa Monica Blvd., this is a value-add investment not to be missed!

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.talechiaandassociates.com/homes/154651688
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1150 N Kingsley Drive Los Angeles, CA 90029

  • Price: $1,299,999
  • Status: ACTIVE
  • On Site: 68 Days
  • Updated: 40 min ago
  • ID#: SR24182288
4
Beds
0
Baths
0
½ Baths
0.18
Acres
Neighborhood:
Los Angeles (90029)
County:
Los Angeles
Area:
Los Angeles (90029)
Property Description
We are pleased to present the opportunity to acquire a fixer 6 unit apartment building in East Hollywood! 4 of the 6 units will be delivered VACANT and present the ideal situation for a buyer to remodel and renovate the vacant units right away! The building consists of 2 structures--the front building consists of 5 units and the back building consists of 1 unit. ALL the units are in a heavy fixer condition. There are also 4 detached garages in the back lot, which can be converted to one or more ADUs. The spacious +/- 7,895 sq. ft. lot. also presents the opportunity to build additional ADUs on the lot. Upon renovating and repositioning the units, the buyer can realize annual rental income of at least $175,200. Located in an Opportunity Zone, the building could provide potential tax benefits for a buyer! The buyer also has the option to revise the unit interior floor plans to maximize revenue. Given the building's central location in the bustling rental Hollywood rental market and close to Virgil Village, Melrose Hill, and the numerous establishments across Santa Monica Blvd., this is a value-add investment not to be missed! We are pleased to present the opportunity to acquire a fixer 6 unit apartment building in East Hollywood! 4 of the 6 units will be delivered VACANT and present the ideal situation for a buyer to remodel and renovate the vacant units right away! The building consists of 2 structures--the front building consists of 5 units and the back building consists of 1 unit. ALL the units are in a heavy fixer condition. There are also 4 detached garages in the back lot, which can be converted to one or more ADUs. The spacious +/- 7,895 sq. ft. lot. also presents the opportunity to build additional ADUs on the lot. Upon renovating and repositioning the units, the buyer can realize annual rental income of at least $175,200. Located in an Opportunity Zone, the building could provide potential tax benefits for a buyer! The buyer also has the option to revise the unit interior floor plans to maximize revenue. Given the building's central location in the bustling rental Hollywood rental market and close to Virgil Village, Melrose Hill, and the numerous establishments across Santa Monica Blvd., this is a value-add investment not to be missed!
Exterior Features

Pool N/K Site CurbsSidewalks

Interior Features

Stories 2 Story Total Baths Unit1 2 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1

Property Features

Annual Expense Actual 0 Assessments N/K Buildings 2 Cfd Mello Roos Fee 964.0 Cfd Mello Roos Fee Reflects Year Gross Scheduled Income Actual 0 Monthly Total Fees 80 Terms Cash Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Rent Actual 0.0 Unit2 Rent Actual 0.0 Unit3 Rent Actual 0.0 Unit4 Rent Actual 0.0 Zoning Assessor

San Diego MLS logo Listing provided courtesy of Anie Mayelian of Keller Williams Realty Calabasas: 818-915-9118. Listing information © 2024 San Diego MLS Inc. Source: CRMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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