501 S Kingsley Dr

Los Angeles CA 90020

11274 sq. ft.

11210 sq. ft.

Other

Currently for sale - view listing

Overview

We are pleased to present 501 South Kingsley Drive, a value add 22-unit apartment building located in the heart of Koreatown. Built in 1956, the property consists of (19) studio/one-bathroom units and (3) one-bedroom/one-bathroom units. Current rents are approximately 31% under market providing a new investor the opportunity to renovate units and common areas in order to maximize rental income. The property features controlled access, pool, covered parking and an on-site laundry facility. The units feature laminate flooring, air-conditioning and renovated kitchens with new cabinetry and stone countertops (select units). The 11,274 sf building sits on a 11,210 sf lot that is LAR4 zoned. This property can be purchased along with neighboring 515 South Kingsley Drive, 16-units (38-unit portfolio).501 South Kingsley Drive boasts a Walk Score of 93 as it is located just a short walk to trendy coffee shops, cafes, bars, restaurants, and retail along both Wilshire Boulevard and Western Avenue. The property is conveniently located near the 101, 10 and 110 freeways and just a short drive to major job centers such as Hollywood, Century City, Beverly Hills and Downtown LA. The property is also 0.4 miles from the Wilshire/Normandie Metro D Line Station offering a viable public transportation option for eastbound commuters headed to Downtown Los Angeles and westbound commuters headed to Beverly Hills/Century City/Westwood (western route to be completed in phases from 2025-2027).

Features

22 bathrooms

13 carspaces

11274 sq. ft. floor area

11210 sq. ft. lot size

Other

Property history for 501 S Kingsley Dr

2013

Sold

$310,333

14 Nov 2013

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