1250 N Kingsley Dr­Los Angeles, CA 90029 United States

Description:

1250 N. Kingsley, Kingsley Terrace, is a 24-unit two story complex with ample parking (34 spaces for 24 units). Close to all the action in Hollywood, this charming complex is a gated and features a recently-resurfaced swimming pool, a laundry room and balcony units in the rear of the property. There is a current vendor agreement in place for seismic retrofitting that can be assigned to new buyer. A 10%deposit has been paid toward the cost of the work leaving a balance of $67,500. The building is separately metered for gas and electric. ALL UNITS HAVE AIR CONDITIONING! This property is part of a 10-property portfolio totaling 186 units. Most of the properties are in the 90029 & 90006 zip codes of Los Angeles, CA. These well-located properties offer convenient access to Downtown Los Angeles & Mid-Wilshire and can be managed efficiently due to their proximity to one another. The properties are well maintained and have had many exterior and interior improvements. There is still +28% upside to be realized as units turn and the opportunity to construct two additional units already permitted at 1006 Mariposa. This infill multifamily portfolio is in an improving submarket in LA and gives an investor diversification amongst 12 different APNs and proven upside through continued unit turns.