$2,550,000
$2,750,000
7.3%For more information regarding the value of a property, please contact us for a free consultation.
7,885 SqFt
SOLD DATE : 01/31/2022
Key Details
Sold Price $2,550,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 7,885 sqft
Price per Sqft $323
Subdivision Not Applicable-105
MLS Listing ID 320007846
Sold Date 01/31/22
HOA Y/N No
Year Built 1957
Lot Size 7,840 Sqft
Acres 0.18
Property Description
The Kingsley Apartments is an 11 unit apartment building, located in the Heart of Hollywood, consisting of 10 one bedroom one bathroom units, and 1 two bedroom one bathroom unit. Four of the Eleven tenants are Section 8 tenants. There is one unit vacant and all others are occupied, with rent collections made in full ever since the pandemic, including those with Section 8 tenants. There are five tandem parking spaces, and the remaining six units do not have parking. There is a laundry facility on-site, and storage spaces located above the parking spaces. Soft-story retrofit plans have been fully approved, and are shovel-ready, allowing investors to recoup future capex reimbursements from tenants. Prime location of Hollywood, with constant redevelopment all around! Total annual gross income for the property is $186,350
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning LARD1.5
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Heating Wall Furnace
Flooring Carpet, Tile, Wood
Fireplace No
Laundry Common Area
Exterior
Garage Covered, Carport, Tandem
Parking Type Covered, Carport, Tandem
Building
Entry Level Two
Level or Stories Two
Others
Tax ID 5537015002
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with Trevor Bergher • Westside Estate Agency Inc.
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CEO | DRE# SA695240000 | DRE# 02100184