$3,395,000
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634 Kingsley Drive Los Angeles, CA 90004
Cluster
Residence
16
Beds
16
Baths
...
Bed/Bath
11,564
Sq. Ft.
Property Activity
Time on Site
days
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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 35% below market rates. A vacant unit provides an immediate opportunity for renovation and income maximization. Recent lease agreements for units 3 and 15, at $1,995 per month, affirm the market rent for the area. With the last 4% rental increase implemented in February 2024, a new investor will have the opportunity to further increase rents in February 2025. 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.
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MLS#
24434731
Property Type
Cluster
Bedrooms
16
Bathrooms
Year Built
1954
Square Feet
11,564
sq. ft
Lot Size
0.29
Stories
2.0
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Walk Score measures the walkability of any address, Transit Score measures access to public transit on a scale of 1-100.
Source: Walk Score®
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