634 N Kingsley Drive Los Angeles, CA 90004
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.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site31 Days
- MLS StatusActive
- MLS ID Number24434731
- Home Size Source N/A
- Year Built1954
- Lot Size0.2933 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Assigned
- Parking Spaces 13
- Number of Stories 22
- Acreage 0.2933
- Zoning LAR3
- Listing Conditions Standard
Interior Features
- Heating Wall Furnace
- Appliances DishwasherRefrigerator
- Interior Ceiling Fan(s)
Community Features
- Senior Community No
- MLS Area C17 - Mid-Wilshire