719 N Kingsley Dr, Los Angeles, Los Angeles County, CA, 90029 Los Angeles CA US

Nine unit value-add property in East Hollywood offering a solid current CAP rate with the opportunity for substantial rental upside. Located just north of Melrose Ave. (between Normandie and Western), 719 N. Kinglsey is centrally located to several neighborhood thoroughfares filled with an array of independent businesses, a city college (LACC) and large Hollywood employers (Children's Hospital LA, Hollywood Presbyterian, Sunset Gower Studios). The property is comprised of (1) three-bdrm. and one-and-a-half bath unit, (2) 2-bdrm. units and (6) 1-bdrm. units. Each uni is individually metered for gas and electricity. This value-add opportunity currently generates approx. $12,200+ in gross monthly income with the opportunity for 58% upside in rents, based on renovated units in the area. We anticipate the future owner coud generate approx. $19,200+ in gross monthly income. Additional property amenities include soft-story retrofitting completion, 9 parking spaces (8 covered and 1 open) and a community laundry room. Find out more about this property. Request details here