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1621 Kingsley Drive
Los Angeles, CA 90027
Sold
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!
PROPERTY INFORMATION
| MLS # | AR23138710 | Lot Size | 6,874 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Apartment |
| Price | $ 1,100,000
Price Per SqFt: $ 357 |
DOM | 673 Days |
| Address | 1621 Kingsley Drive | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 3,078 Sq. Ft. |
| Postal Code | 90027 | Garage | N/A |
| County | Los Angeles | Year Built | 1917 |
| Bed / Bath | 2 / 0 | Parking | N/A |
| Built In | 1917 | Status | Closed |
| Sold Date | 2023-09-27 |
INTERIOR FEATURES
| Has Laundry | No |
| Laundry Information | None |
| EntryLocation | Ground level |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,173
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 07/27/2023 | Listed | $1,100,000 |
Topfind Realty
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(844)-333-8033
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Listing provided courtesy of Justin McCardle, Growth Investment Group Pasade. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
