515 S Kingsley Drive, Los Angeles, CA 90020 (MLS # 23335807)

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PRICE $2,950,000 dsIDX morgage calculator
BEDS 0
BATHS 16
HOME SIZE 12,516 sqft
LOT SIZE 11,261 sqft
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We are pleased to present 515 South Kingsley Drive, a value add 16-unit apartment building located in the heart of Koreatown. Built in 1959, the property consists of (16) one-bedroom/one-bathroom units. Current rents are approximately 50% 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, 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 12,516 sf building sits on a 11,260 sf lot that is LAR4 zoned. This property can be purchased along with neighboring 501 South Kingsley Drive, 22-units (38-unit portfolio).515 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).

DAYS ON MARKET 233 LAST UPDATED 7/19/2024
YEAR BUILT 1959 COMMUNITY C17 - Mid-Wilshire
COUNTY Los Angeles STATUS Sold
PROPERTY TYPE(S) Multi Family


ADDITIONAL DETAILS
AIR Wall/Window Unit(s)
AIR CONDITIONING Yes
AREA C17 - Mid-Wilshire
HEAT Wall Furnace
LOT 0.2585 acre(s)
LOT DIMENSIONS 75x150
PARKING None
STORIES Split/Multi Level
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Listing provided by : Matthew Ziegler, Marcus & Millichap

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