Fixer Building with 4 Units Delivered Vacant! | 1150 N Kingsley Dr
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Fixer Building with 4 Units Delivered Vacant! 1150 N Kingsley Dr
6 Unit Apartment Building $1,299,999 ($216,667/Unit) Los Angeles, CA 90029
Investment Highlights
- Fixer 6 unit apartment building in East Hollywood with 4 of 6 units being delivered VACANT!
- There are 4 detached garages in the back lot, which can be converted to one or more ADUs.
- Located in an Opportunity Zone, the building could provide potential tax benefits for a buyer!
- The building consists of 2 structures--the front building consists of 5 units and the back building consists of 1 unit.
- Upon renovating and repositioning the units, the buyer can realize annual rental income of at least $175,200.
Executive Summary
The Mayelian Apartment Group is 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!
Property Facts Under Contract
| Price | $1,299,999 | Building Class | C |
| Price Per Unit | $216,667 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 3,199 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1928 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Price | $1,299,999 |
| Price Per Unit | $216,667 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 3,199 SF |
| No. Stories | 3 |
| Year Built | 1928 |
| Parking Ratio | 1.25/1,000 SF |
| Opportunity Zone |
Yes |
Walk Score ®
Walker's Paradise (91)
Bike Score ®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 5537-015-008 | Improvements Assessment | $1,645 |
| Land Assessment | $298,264 | Total Assessment | $299,909 |
PROPERTY TAXES
Parcel Number
5537-015-008
Land Assessment
$298,264
Improvements Assessment
$1,645
Total Assessment
$299,909
zoning
| Zoning Code | RD 1.5-XL (LARD1.5) |
| RD 1.5-XL (LARD1.5) |
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Fixer Building with 4 Units Delivered Vacant! | 1150 N Kingsley Dr
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