1621 N Kingsley Drive, Los Angeles, CA 90027

About this property

Take a look at this charming 5-unit building located in the heart of Thai Town, East Hollywood, presents a unique investment opportunity. The property has been well maintained and has been in the same family for nearly half a century, indicating a history of ownership and care. The building comprises three freestanding 1-bedroom bungalows and a two-story duplex with 1-bedroom units. All tenants are long-term, and the rents are currently set at very low levels. This situation creates a significant opportunity for the next owner to capitalize on over 200% rental upside by completing renovations that align with the market demands and justify higher rental rates. Each unit is individually metered for gas and electricity, with individual water heaters, which is a practical and desirable feature for both landlords and tenants. The property’s layout provides a small community-type feel, with freestanding units and open lawn spaces, giving tenants an element of privacy within a close-knit setting. The layout also offers potential for the new owner to envision creating private houses for the tenants with their own patio spaces, adding to the appeal of the property. The area has a high rental demand based on it’s proximity to everything Hollywood has to offer!

Listing description from the September 2023 sale, as reported to CRMLS.

Sale history

$850,000

Sold September 2023 · listed $1,100,000, on market July 2023 · MLS #AR23138710 · Source: CRMLS

Listing Agent: Justin McCardle · Listing Office: Growth Investment Group Pasade · Contact: 626-594-4900 · Bought with: Justin McCardle · Growth Investment Group Pasade

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