About 1757 N Kingsley
The Mogharebi Group is pleased to present the exclusive offering of 1757 N Kingsley Drive, a 27-unit multifamily investment opportunity strategically located at the intersection of Hollywood, Los Feliz and East Hollywood. The property is offered at $7,600,000 and consists of approximately 13,168 rentable square feet on a 0.42-acre lot. Built in 1968, the property features a desirable unit mix heavily weighted toward one-bedroom apartments. The unit mix consists of 20 one-bedroom/one-bath units, six studios and one two-bedroom/one-bath unit. The property is well maintained and partially renovated, with select interiors featuring quartz countertops, stainless steel appliances, designer backsplashes, laminate/hardwood flooring, double-pane windows and modern finishes. The property's earthquake/seismic retrofit has been completed, providing a significant capital improvement for the next owner. Community amenities include a swimming pool and spa, outdoor BBQ/picnic area, controlled-access entry, on-site laundry and 27 parking spaces, providing a 1:1 parking ratio. At the asking price, the offering reflects a 5.32% current/pro forma capitalization rate with approximately 9.8% loss-to-lease, providing an investor with meaningful potential to increase NOI as rents are recaptured. The property was reported at 100% occupancy in the offering financials. The location provides excellent access to the Hollywood/Western Metro station, the 101 and 5 Freeways and major employment and entertainment centers. Nearby employers and institutions include Netflix, Paramount, CBS, Capitol Records, S
