East Hollywood 6-Unit | 956 N Kingsley Dr
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East Hollywood 6-Unit 956 N Kingsley Dr
6 Unit Apartment Building $3,999,000 ($666,500/Unit) 5.93% Cap Rate Los Angeles, CA 90029
Investment Highlights
- MAJOR CASH COW! Out of this world pro forma cap rate of 5.93%!
- Property comes fully loaded with premium kitchen appliances, washers + dryers. Totally turnkey!
- Dream 1031 exchange opportunity. Ready to close soon!
- Ideal unit mix consisting of ALL three and four 4 bedroom units!
- UNHEARD OF price per door of $699,500! This is a price per door you won’t find elsewhere!
- 12 PARKING SPACES on site! Very rare!
Executive Summary
An ultra-premium new construction 6-unit located in trendy Melrose Hill (Hollywood), just minutes from Hollywood/Highland, Los Feliz, Larchmont Village and Silver Lake! Ideal unit mix of ALL 3 & 4 bed units! Boasting high-end finishes, unmatched construction quality, and an unheard of 5.93% projected cap rate!
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$309,600
|
$37.40
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$12,384
|
$1.50
|
| Effective Gross Income |
$297,216
|
$35.90
|
| Taxes |
$47,964
|
$5.79
|
| Operating Expenses |
$12,257
|
$1.48
|
| Total Expenses |
$60,221
|
$7.27
|
| Net Operating Income |
$236,995
|
$28.63
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $309,600 |
| Annual Per SF | $37.40 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $12,384 |
| Annual Per SF | $1.50 |
| Effective Gross Income | |
|---|---|
| Annual | $297,216 |
| Annual Per SF | $35.90 |
| Taxes | |
|---|---|
| Annual | $47,964 |
| Annual Per SF | $5.79 |
| Operating Expenses | |
|---|---|
| Annual | $12,257 |
| Annual Per SF | $1.48 |
| Total Expenses | |
|---|---|
| Annual | $60,221 |
| Annual Per SF | $7.27 |
| Net Operating Income | |
|---|---|
| Annual | $236,995 |
| Annual Per SF | $28.63 |
Property Facts
| Price | $3,999,000 | Apartment Style | Low Rise |
| Price Per Unit | $666,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 5.93% | Building Size | 8,278 SF |
| Gross Rent Multiplier | 12.92 | Average Occupancy | 0% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Parking Ratio | 1.45/1,000 SF |
| Price | $3,999,000 |
| Price Per Unit | $666,500 |
| Sale Type | Investment |
| Cap Rate | 5.93% |
| Gross Rent Multiplier | 12.92 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.18 AC |
| Building Size | 8,278 SF |
| Average Occupancy | 0% |
| No. Stories | 3 |
| Year Built | 2024 |
| Parking Ratio | 1.45/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Double Pane Windows
- Handrails
- Instant Hot Water
- Island Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+3 | 2 | $4,500 | 1,356 |
| 4+4 | 1 | $4,600 | 1,558 |
| 3+3.5 | 3 | $4,050 | 1,290 - 1,359 |
1 of 1
Walk Score ®
Very Walkable (84)
zoning
| Zoning Code | LAR3 |
| LAR3 |
-
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East Hollywood 6-Unit | 956 N Kingsley Dr
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