1150 North Kingsley Drive

Los Angeles, CA 90029

$1,350,000
Price
5
Beds
7
Baths
3,199 Sq. Ft.
$422 / Sq. Ft.
3,199
Sq. Ft.
$422
per Sq. Ft.

Description

We are pleased to present the opportunity to acquire a fixer 6 unit apartment building in East Hollywood! 4 of the 6 units will be delivered VACANT and present the ideal situation for a buyer to remodel and renovate the vacant units right away! The building consists of 2 structures--the front building consists of 5 units and the back building consists of 1 unit. ALL the units are in a heavy fixer condition. There are also 4 detached garages in the back lot, which can be converted to one or more ADUs....We are pleased to present the opportunity to acquire a fixer 6 unit apartment building in East Hollywood! 4 of the 6 units will be delivered VACANT and present the ideal situation for a buyer to remodel and renovate the vacant units right away! The building consists of 2 structures--the front building consists of 5 units and the back building consists of 1 unit. ALL the units are in a heavy fixer condition. There are also 4 detached garages in the back lot, which can be converted to one or more ADUs. The spacious +/- 7,895 sq. ft. lot. also presents the opportunity to build additional ADUs on the lot. Upon renovating and repositioning the units, the buyer can realize annual rental income of at least $142,800. Located in an Opportunity Zone, the building could provide potential tax benefits for a buyer! The buyer also has the option to revise the unit interior floor plans to maximize revenue. 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!
  1. Listed by Anie Mayelian • DRE #00778825 • Brokerage DRE #01872625 • Keller Williams Realty Calabasas • 818-915-9118
  2. Listed by Aleen Mayelian • DRE #02198281 • Brokerage DRE #01872625 • Keller Williams Realty Calabasas

Property Details for 1150 North Kingsley Drive

Parking Spaces Total
4
Private Pool
No
Total Units
6.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
3199
Assessor Parcel Number
5537-015-008
Property Attached YN
true

Location

Listing Courtesy of Keller Williams Realty Calabasas, Anie Mayelian, DRE #00778825; Keller Williams Realty Calabasas, Aleen Mayelian, DRE #02198281
Add your commute
LISTING UPDATED: 04/03/2024 07:37 AM

Property Details for 1150 North Kingsley Drive

StatusActive
MLS #SR24045277
Days on Market52
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1928
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams Realty Calabasas, Anie Mayelian, DRE #00778825; Keller Williams Realty Calabasas, Aleen Mayelian, DRE #02198281
Add your commute

Building Information for 1150 North Kingsley Drive

Building/Complex1150 N Kingsley DrFloor-Stories2Residences-Pet Policy-Year Built1928Building Size-

Payment Calculator

$7,735 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,368

Property Taxes

$367

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1150 North Kingsley Drive

Income / Expense / Tax Details
Income Details
  • Gross Income: $112,800
  • Gross Scheduled Income: $112,800
  • Vacancy Allowance: 3384
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $109,416
  • Net Operating Income: $82,913
Expense Details
  • Operating Expense: $26,502
  • New Taxes Expense: $16,875
  • Gardener Expense: $1,200
  • Fuel Expense: $801
  • Electric Expense: $746
  • Insurance Expense: $4,000
  • Maintenance Expense: $2,880
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $26,502
Tax / Assessment Info
  • Tax Tract Number: 0
  • Tax Census Tract: 1911.20
  • CFD/Mello-Roos Fee: $964
  • Tax Lot: 23
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Entry Location: ground
  • Property Condition: Fixer
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Lot 6500-9999
  • Number Of Units: 6
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $700
  • Unit Type Total Rent: $700
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $600
  • Unit Type Total Rent: $600
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 6
Unit Information
  • Number Of Units Leased: 2
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1

Property History for 1150 North Kingsley Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1150 North Kingsley Drive

Taxable ValueLand$292,416Additions$1,613Total$294,029
Tax Record2023$4,406 ($367 / month)
Home Facts
Total Finished SqFt3,199 SqFtAbove Grade Finished SqFt3,199 SqFtLot Size7,895 SqFtStyleMulti-Family Res (5+ Units)ZoningLARD1.5CountyLOS ANGELESAPN5537-015-008

Schools near 1150 North Kingsley Drive

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Kingsley Elementary School
PublicK to 5

Joseph Le Conte Middle School
Public6 to 8

STEM Academy at Bernstein High
Public9 to 12

Helen Bernstein High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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1150 North Kingsley Drive is a multi-family home for sale in Los Angeles, CA 90029. This property was listed for sale on March 5, 2024 by Keller Williams Realty Calabasas, it's currently listed at $1,350,000. It has been on the market for a total of 52 days and was last sold on June 20, 1994. This listing's school district is Los Angeles Unified School District. Nearby schools include Kingsley Elementary School, Joseph Le Conte Middle School and STEM Academy at Bernstein High. 1150 North Kingsley Drive is a 5-bed, 7-bath, 3,199 sqft multi-family home built in 1928.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty Calabasas, Anie Mayelian, DRE #00778825; Keller Williams Realty Calabasas, Aleen Mayelian, DRE #02198281

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.