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1150 N Kingsley Dr - Hollywood Opportunity Zone Development!

0.18 Acres of Commercial Land Offered at $1,299,999 in Los Angeles, CA 90029

Commercial Land California Los Angeles 1150 N Kingsley Dr, Los Angeles, CA 90029

Investment Highlights

  • Lot size of +/- 7,895 sq. ft., zoning of LARD1.5, and Tier 3 TOC designation.
  • Opportunity Zone property with potential tax benefits.
  • Buyer may be able to do affordable housing (ED-1) project on this lot!
  • There are 4 detached garages in the back lot, which can also be converted to one or more ADUs to generate additional rental income.

Executive Summary

The Mayelian Apartment Group is pleased to present an excellent development opportunity near Santa Monica Blvd and Normandie Ave in East Hollywood! The existing structure on the lot consists of a fixer 6 unit building of which 4 UNITS WILL BE DELIVERED VACANT! Boasting a lot size of +/- 7,895 sq. ft., zoning of LARD1.5, and Tier 3 TOC designation, the potential possibilities for this property are endless! Buyer may be able to do affordable housing (ED-1) project on this lot! Buyer to investigate. The buyer can also reap tax benefits as the property is in an Opportunity Zone! There are 4 detached garages in the back lot, which can also be converted to one or more ADUs to generate additional rental income. 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!

Attachments

Kingsley Zimas 9.1.24
Rent Roll Kingsley 9.1.24

Property Facts Under Contract

Price $1,299,999 Property Subtype Commercial
Sale Type Investment Total Lot Size 0.18 AC
No. Lots 1 Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Type Land
Price $1,299,999
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Commercial
Total Lot Size 0.18 AC
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

1 Lot Available

Lot

Price $1,299,999 Lot Size 0.18 AC
Price Per AC $7,172,646
Price $1,299,999
Price Per AC $7,172,646
Lot Size 0.18 AC

Description

The Mayelian Apartment Group is pleased to present an excellent development opportunity near Santa Monica Blvd and Normandie Ave in East Hollywood! The existing structure on the lot consists of a fixer 6 unit building of which 4 UNITS WILL BE DELIVERED VACANT! Boasting a lot size of +/- 7,895 sq. ft., zoning of LARD1.5, and Tier 3 TOC designation, the potential possibilities for this property are endless! Buyer may be able to do affordable housing (ED-1) project on this lot! Buyer to investigate. The buyer can also reap tax benefits as the property is in an Opportunity Zone! There are 4 detached garages in the back lot, which can also be converted to one or more ADUs to generate additional rental income. 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!

Links

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1150 N Kingsley Dr, Los Angeles, CA - aerial map view - Image1
1150 N Kingsley Dr, Los Angeles, CA - aerial map view - Image2
Walk Score ®
Walker's Paradise (91)
Bike Score ®
Very Bikeable (70)
What is a Walk Score®, Transit Score® & Bike Score®?
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Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
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measures access to public transit. Bike Score®
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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 LARD1.5
LARD1.5
(818) 915-9118

Contacts

  • Listing ID: 31179767

  • Date on Market: 3/11/2024

  • Last Updated:

  • Address: 1150 N Kingsley Dr, Los Angeles, CA 90029

More public record information on 1150 N Kingsley Dr, Los Angeles, CA 90029

The Land Property at 1150 N Kingsley Dr, Los Angeles, CA 90029 is currently available for sale. Contact KW Commercial for more information.

Land PROPERTIES IN NEARBY NEIGHBORHOODS

Nearby Listings

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1150 N Kingsley Dr, Los Angeles, CA for sale Aerial- Image 1 of 6
Aerial
1150 N Kingsley Dr, Los Angeles, CA for sale Building Photo- Image 2 of 6
Front Building
1150 N Kingsley Dr, Los Angeles, CA for sale Aerial- Image 3 of 6
Aerial
1150 N Kingsley Dr, Los Angeles, CA for sale Building Photo- Image 4 of 6
Garages
1150 N Kingsley Dr, Los Angeles, CA for sale Building Photo- Image 5 of 6
Back Building

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1150 N Kingsley Dr - Hollywood Opportunity Zone Development!
(818) 915-9118 x

1150 N Kingsley Dr - Hollywood Opportunity Zone Development!

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Anie Mayelian

(818) 915-9118

(818) 915-9118

Aleen Mayelian

(818) 442-1678

(818) 442-1678

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