Excellent Studio City Location | 12 Units | 3916-3920 Kentucky Dr
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Excellent Studio City Location | 12 Units 3916-3920 Kentucky Dr
12 Unit Apartment Building $3,100,000 ($258,333/Unit) 4.82% Cap Rate Los Angeles, CA 90068
Investment Highlights
- Exceptional Market Fundamentals | 2024 Average Home Value of $1,481,205 and 2024 Average Household Income of $159,572
- ADU Opportunity | Potential Ability to Build 4 Units (To be Verified by Buyer)
- ±6,772 Sf Building Size on 12,170 Sf Lot
- Excellent Studio City Location | Immediately Adjacent to Universal Studios, Universal City Walk Hollywood, and 101 Freeway
- All One-Bedroom Units | 12 One-Bedroom/One-Bathroom Units
- Current Rents ±34% Under Market
Executive Summary
Constructed in 1958 on a ±12,170 square foot double lot, 3916-3920 Kentucky Drive is a 12-unit multifamily property comprised of two six-unit buildings with a total building size of ±6,772 square feet. The property is separately metered for gas and electric, is serviced by two central water heaters, and offers new landscaping, controlled intercom entry, an on-site laundry facility, and 12 uncovered parking spaces.
3916-3920 Kentucky Drive boasts an ideal unit mix of all one-bedroom/one-bathroom units. Units offer hardwood and tile flooring, gas stoves, refrigerators, ceiling fans, and wall units for heating and cooling. Further, 3916-3920 Kentucky Drive offers additional value-add potential via the undeveloped hillside at the rear of the property which may accommodate up to 4 ADUs (buyer to verify).
3916-3920 Kentucky Drive boasts an ideal unit mix of all one-bedroom/one-bathroom units. Units offer hardwood and tile flooring, gas stoves, refrigerators, ceiling fans, and wall units for heating and cooling. Further, 3916-3920 Kentucky Drive offers additional value-add potential via the undeveloped hillside at the rear of the property which may accommodate up to 4 ADUs (buyer to verify).
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $246,504 | $36.40 |
Other Income | $1,822 | $0.27 |
Vacancy Loss | $7,450 | $1.10 |
Effective Gross Income | $240,876 | $35.57 |
Taxes | $39,197 | $5.79 |
Operating Expenses | $52,358 | $7.73 |
Total Expenses | $91,555 | $13.52 |
Net Operating Income | $149,321 | $22.05 |
Financial Summary (Actual - 2023)
Gross Rental Income | |
---|---|
Annual | $246,504 |
Annual Per SF | $36.40 |
Other Income | |
---|---|
Annual | $1,822 |
Annual Per SF | $0.27 |
Vacancy Loss | |
---|---|
Annual | $7,450 |
Annual Per SF | $1.10 |
Effective Gross Income | |
---|---|
Annual | $240,876 |
Annual Per SF | $35.57 |
Taxes | |
---|---|
Annual | $39,197 |
Annual Per SF | $5.79 |
Operating Expenses | |
---|---|
Annual | $52,358 |
Annual Per SF | $7.73 |
Total Expenses | |
---|---|
Annual | $91,555 |
Annual Per SF | $13.52 |
Net Operating Income | |
---|---|
Annual | $149,321 |
Annual Per SF | $22.05 |
Property Facts
Price | $3,100,000 | Apartment Style | Low Rise |
Price Per Unit | $258,333 | Building Class | C |
Sale Type | Investment | Lot Size | 0.28 AC |
Cap Rate | 4.82% | Building Size | 6,772 SF |
Gross Rent Multiplier | 12.58 | Average Occupancy | 83% |
No. Units | 12 | No. Stories | 2 |
Property Type | Multifamily | Year Built | 1958 |
Property Subtype | Apartment | Parking Ratio | 1.77/1,000 SF |
Price | $3,100,000 |
Price Per Unit | $258,333 |
Sale Type | Investment |
Cap Rate | 4.82% |
Gross Rent Multiplier | 12.58 |
No. Units | 12 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.28 AC |
Building Size | 6,772 SF |
Average Occupancy | 83% |
No. Stories | 2 |
Year Built | 1958 |
Parking Ratio | 1.77/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Tile Floors
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Intercom
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Gated
- Gas Range
- Individual Locking Bedrooms
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 12 | $1,759 | 565 |
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Walk Score ®
Very Walkable (72)
PROPERTY TAXES
Parcel Numbers | Total Assessment | $2,798,408 (2024) | |
Land Assessment | $1,649,590 (2024) | Annual Taxes | $39,197 ($5.79/SF) |
Improvements Assessment | $1,148,818 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,649,590 (2024)
Improvements Assessment
$1,148,818 (2024)
Total Assessment
$2,798,408 (2024)
Annual Taxes
$39,197 ($5.79/SF)
Tax Year
2023
zoning
Zoning Code | RD1.5, Los Angeles (Buyer to Verify Zoning) |
RD1.5, Los Angeles (Buyer to Verify Zoning) |
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Excellent Studio City Location | 12 Units | 3916-3920 Kentucky Dr
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