1150 N Kingsley Drive

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. 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 $175,200. 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!

Listing information courtesy of: Anie Mayelian, Keller Williams Realty Calabasas . *Based on information from the Association of REALTORS/Multiple Listing as of 10/21/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.