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Listed by Everett Wong • Greysteel California, Inc.
$1,800,000
Est. payment /mo
5,966 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,966 sqft
Price per Sqft $301
MLS Listing ID CRPW25105374
HOA Y/N No
Year Built 1962
Lot Size 7,896 Sqft
Property Sub-Type Other
Source Datashare California Regional
Property Description
1256 N. Kingsley Drive offers investors a value-add opportunity in the heart of rapidly developing East Hollywood. The property consists of 12 units (2 Two-Bedrooms, 4 One-Bedrooms and 6 Bachelor units) currently producing an average rent of just $1,130 per unit per month, presenting a significant rental upside of over 50% as units are brought to market rates upon unit turns. A new roof was installed in 2020, and the property offers 11 on-site parking spaces, including 2 tandem and 7 single spaces. With ample room for potential detached ADUs utilizing SB 1211 (buyer to verify), there's added development upside. The property is subject to the Los Angeles Seismic Retrofit Ordinance with plans have been submitted and construction pending. This is a strong repositioning play in one of LA’s most dynamic rental submarkets.
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Community Facility
Building
Water Public
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