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$ 3,295,000
Est. payment | /mo
16 Beds
16 Baths
11,564 SqFt
$ 3,295,000
Est. payment | /mo
16 Beds
16 Baths
11,564 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,564 sqft
Price per Sqft $284
MLS Listing ID 25513042
Bedrooms 16
HOA Y/N No
Year Built 1954
Lot Size 0.293 Acres
Property Description
Presenting an exceptional investment opportunity at 634 North Kingsley Drive, a well-managed 16-unit multifamily property located in the heart of Mid-Wilshire. Built in 1954, this asset comprises 16 one-bedroom/one-bathroom units, with upgraded units featuring laminate flooring, granite countertops, wall-mounted HVAC systems, and modern kitchen appliances. The property offers significant value-add potential, with current rents approximately 29% below market rates. One renovated vacant unit provides an immediate opportunity for income maximization. Recent lease agreements for units 3, 15 and 17 affirm the market rent for the area. Key property features include parking for 13 vehicles, an on-site laundry facility, and individually metered gas and electric utilities for each unit. Notably, the property requires no soft story retrofit, minimizing potential capital expenditures. The property boasts a Walk Score of 90, with close proximity to shops, restaurants, and retail along Melrose Avenue and Beverly Boulevard. It is also conveniently situated within a short drive of Hollywood, Downtown Los Angeles, West Hollywood, and Beverly Hills, and is within walking distance of the Metro B Line (Red) at Vermont/Beverly Station.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR3
Interior
Interior Features Ceiling Fan(s)
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Dishwasher, Refrigerator
Exterior
Parking Features Assigned
Total Parking Spaces 13
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5521007022
Special Listing Condition Standard
Listed by Trevor Bergher • Westside Estate Agency Inc.
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Heiner And Natalia Escobar
REALTORS® | Lic# 01758326 | 01751260