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1621 N Kingsley Dr, Los Angeles, CA 90027
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1621 N Kingsley Dr Los Angeles, CA 90027

$850,000 Sold Price as of 09/27/2023
  • 5 Beds
  • 5 Baths
  • 3,078 Sq.Ft.
Sold
$850,000 Sold Price as of 09/27/2023 Refinance Your Mortgage
Map preview of 1621 N Kingsley Dr, Los Angeles, CA 90027

Property Overview: 1621 N Kingsley Dr Los Angeles, CA has 5 bedrooms, 5 bathrooms, 3,078 living square feet and 6,874 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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!

Listed by Justin McCardle | BRE #01895720 | Growth Investment Group Pasade
Last checked: 2 minutes ago | Last updated: September 28th, 2023 | Source CRMLS | DOM: 39

Home details

Lot Sq. Ft
6,874
HOA Dues
$0/mo
Year built
1917
Garage
--
Property Type:
Apartment
Status
Sold
MLS#
AR23138710
City
Los Angeles
County
Los Angeles
Time on Site
285 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 4
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $717
  • Total Rent: $2,150
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $620
  • Total Rent: $1,240
  • Pro Forma/Market Rent: $1,850
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $39,900
  • Net Operating Income: $14,133
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $25,767
  • Electric: $0
  • Gas/Fuel: $0
  • New Taxes: $13,818
  • Trash: $0
  • Insurance: $2,506
  • Professional Management: $0
  • Water/Sewer: $5,760

Property Details for 1621 N Kingsley Dr

Interior Features
Laundry Information
  • No Laundry
  • None
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: Lot 6500-9999
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 5
  • Parcel Number: 5544016006
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Located South of Hollywood Blvd and North of Sunset
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Los Angeles Agent

Sale History for 1621 N Kingsley Dr

Last sold for $850,000 on September 27th, 2023

  • September, 2023

  • Sep 27, 2023

    Date

    Sold

    CRMLS: AR23138710

    $850,000

    Price

  • Jul 27, 2023

    Date

    Active

    CRMLS: AR23138710

    $1,100,000

    Price

  • January, 2023

  • Jan 11, 2023

    Date

    Canceled

    CRMLS: AR22072648

    $1,150,000

    Price

  • Apr 11, 2022

    Date

    Active

    CRMLS: AR22072648

    $1,150,000

    Price

  • Listing provided courtesy of CRMLS

    Submit Offers Today! Prime Value Add off Hollywood Blvd- this unique opportunity to a acquire this charming 5 unit building near trendy Los Feliz- in the heart of Thai Town. This property has been well maintained and in the same family for almost 50 years. There are 3 freestanding 1 bedroom bungalows, and a two story duplex in the back of the property, each with 1 bedroom. All tenants are long term with very low rents, creating an opportunity for the next owner over 200% of rental upside upon completion of renovations appropriate for the market. Each unit is individually metered for gas and electricity. The property has a small community type feel with the open lawn space and freestanding units, giving tenants an element of privacy within a small space. The layout can give the next owner with the appropriate vision to create very special private houses for tenants with their own patio space. The area has a high rental demand based on it’s proximity to everything Hollywood has to offer! This property is ready to be passed onto the next owner for the next 50 Years. Attractive bridge debt available!

  • January, 2008

  • Jan 29, 2008

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • November, 1973

  • Nov 23, 1973

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1621 N Kingsley Dr

Assessed Value (2020): $94,321
Year Land Value Improved Value Assessed Value
2020 $61,397 $32,924 $94,321

Home Value Compared to the Market

This property vs the competition

1621 N Kingsley Dr sold on September 27, 2023 for 7.56% lower than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $357.37 per/sqft which puts the price per square foot 52.67% lower than the current median sale per square foot for the city of Los Angeles.

About 1621 N Kingsley Dr

Detailed summary of property

1621 N Kingsley Dr is a apartment that recently sold in Los Angeles, CA 90027. This apartment offered 5 bedrooms, 5 bathrooms, roughly 3,078 living square feet, and sits on an approximately 6,874 square foot lot. 1621 N Kingsley Dr was first listed on ArdentRealEstateGroup.com on July 27, 2023. The homeowner sold the property for $850,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 7.56% lower than the current median priced home. Local homes that are currently for sale include 4031 Sequoia St, 4413 La Clede Ave and 1156 Fedora St. While the average home in Los Angeles, CA is selling in 94 days, 1621 N Kingsley Dr has a days on market of 39 days. There are currently 3580 homes for sale in the Los Angeles real estate market and 2422 of them are single family homes while 1059 of them are condos and 93 are townhomes. For more information on this home for sale at 1621 N Kingsley Dr Los Angeles, CA 90027 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1621 N Kingsley Dr

Public county record property details
Beds
5
Baths
5
Year built
1917
Sq. Ft.
3,078
Lot Size
6,873
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
7
APN
5544-016-006

The source for these homes facts are from public records.

90027 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$2,399,000
Median List Price/Sq.Ft.
$932
Median Sold Price
$1,785,930
Median Sold Price/Sq.Ft.
$941
Total Inventory
84
Median Sale to List Price %
99.49%
Avg Days on Market
28
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (15.38%), Other (7.69%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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