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719 N Kingsley Dr, Los Angeles, CA 90029
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719 N Kingsley Dr Los Angeles, CA 90029

$1,775,000 Sold Price as of 12/20/2022
  • 12 Beds
  • 9 Baths
  • 7,356 Sq.Ft.
Sold
$1,775,000 Sold Price as of 12/20/2022 Refinance Your Mortgage
Map preview of 719 N Kingsley Dr, Los Angeles, CA 90029

Property Overview: 719 N Kingsley Dr Los Angeles, CA has 12 bedrooms, 9 bathrooms, 7,356 living square feet and 8,774 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Nine unit value-add property in East Hollywood offering a solid current CAP rate with the opportunity for substantial rental upside. Located just north of Melrose Ave. (between Normandie and Western), 719 N. Kinglsey is centrally located to several neighborhood thoroughfares filled with an array of independent businesses, a city college (LACC) and large Hollywood employers (Children's Hospital LA, Hollywood Presbyterian, Sunset Gower Studios). The property is comprised of (1) three-bdrm. and one-and-a-half bath unit, (2) 2-bdrm. units and (6) 1-bdrm. units. Each uni is individually metered for gas and electricity. This value-add opportunity currently generates approx. $12,200+ in gross monthly income with the opportunity for 58% upside in rents, based on renovated units in the area. We anticipate the future owner coud generate approx. $19,200+ in gross monthly income. Additional property amenities include soft-story retrofitting completion, 9 parking spaces (8 covered and 1 open) and a community laundry room.

Listed by Kenny Stevens | BRE #01090251 | Compass
Last checked: 3 minutes ago | Last updated: June 5th, 2023 | Source CRMLS | DOM: 29

Home details

Lot Sq. Ft
8,774
HOA Dues
$0/mo
Year built
1956
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22207429
City
Los Angeles
County
Los Angeles
Time on Site
576 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 9
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,857
  • Total Rent: $1,857
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,447
  • Total Rent: $1,447
  • Pro Forma/Market Rent: $2,350
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,400
  • Total Rent: $1,400
  • Pro Forma/Market Rent: $1,950
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,291
  • Total Rent: $1,291
  • Pro Forma/Market Rent: $1,950
Unit Breakdown 5
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,251
  • Total Rent: $3,753
  • Pro Forma/Market Rent: $5,850
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,206
  • Total Rent: $1,206
  • Pro Forma/Market Rent: $1,950
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,200
  • Total Rent: $1,200
  • Pro Forma/Market Rent: $1,950
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.29%
  • Gross Rent Multiplier: 14.36
  • Gross Scheduled Income: --
  • Net Operating Income: $90,594
  • Gross Operating Income: $142,520
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 719 N Kingsley Dr

Interior Features
Laundry Information
  • Has Laundry
  • Community, Individual Room
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 9
  • Has Parking
  • Parking Features: Covered
Property Information
  • Total # of Units: 9
  • Parcel Number: 5535035015
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Located just north of Melrose Ave, between Normandie Ave. and Western Ave.
View more facts & features

Local Los Angeles Agent

Sale History for 719 N Kingsley Dr

Last sold for $1,775,000 on December 20th, 2022

  • December, 2022

  • Dec 20, 2022

    Date

    Sold

    CRMLS: 22207429

    $1,775,000

    Price

  • Oct 10, 2022

    Date

    Active

    CRMLS: 22207429

    $2,110,000

    Price

  • October, 2021

  • Oct 5, 2021

    Date

    Active

    CRMLS: 21791652

    $2,300,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present the opportunity to acquire 719 N. Kingsley Drive, a 9-unit multifamily investment property located in Hollywood, a prime rental market in Los Angeles. Built in 1956, the property offers nearly 7,356 square feet of living space across a renter-friendly unit mix featuring six (6) one-bedroom, one-bath units, two (2) two-bedroom, one-bath units, and one (1) three-bedroom, one-and-a-half-bath unit. The property sits on a 8,773 square foot lot and consists of one two-story structure. The property features on-site parking and an on-site laundry room that is paired with exceptional curb appeal making it an ideal living space for urban tenants. The subject property is ideally suited to a value-add upgrade program. Investors will have the opportunity to implement a systematic renovation program focused on revenue generating improvements, reposition the property among market leaders, and increase rental income by approximately 30 percent. Current ownership has completed all required seismic retrofit repairs (Buyer to Verify). 719 N. Kingsley is located North of Melrose Avenue and East of Western Avenue, providing easy access to the 101 Freeway and surrounding retailers and restaurants. The offering is adjacent to some of Los Angeles's most exciting submarkets and provides investors the rare opportunity to own a well-maintained asset with substantial rental upside.

  • May, 2021

  • May 8, 2021

    Date

    Expired

    CRMLS: SR20235358

    $2,300,000

    Price

  • Nov 13, 2020

    Date

    Active

    CRMLS: SR20235358

    $2,300,000

    Price

  • Listing provided courtesy of CRMLS

    Rare multi family investment opportunity in the heart of Los Angeles. Conveniently located within walking distance to shopping, restaurants, coffee shops, freeway, etc. Easy commute for tenants. Increase your investment portfolio with 9 units. Great for a seasoned investor or a first time buyer.

  • September, 2020

  • Sep 23, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 719 N Kingsley Dr

Assessed Value (2020): $570,019
Year Land Value Improved Value Assessed Value
2020 $154,568 $415,451 $570,019

Home Value Compared to the Market

This property vs the competition

719 N Kingsley Dr sold on December 20, 2022 for 77.31% higher 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 $286.84 per/sqft which puts the price per square foot 62.01% lower than the current median sale per square foot for the city of Los Angeles.

About 719 N Kingsley Dr

Detailed summary of property

719 N Kingsley Dr is a multi family that recently sold in Los Angeles, CA 90029. This multi family property offered 12 bedrooms, 9 bathrooms, roughly 7,356 living square feet, and sits on an approximately 8,774 square foot lot. 719 N Kingsley Dr was first listed on ArdentRealEstateGroup.com on October 11, 2022. The homeowner sold the property for $1,775,000. 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 77.31% higher than the current median priced home. Local homes that are currently for sale include 5008 Rosewood Ave, 716 N Van Ness Ave and 812 N Van Ness Ave. While the average home in Los Angeles, CA is selling in 94 days, 719 N Kingsley Dr has a days on market of 29 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 719 N Kingsley Dr Los Angeles, CA 90029 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 719 N Kingsley Dr

Public county record property details
Beds
13
Baths
10
Year built
1956
Sq. Ft.
7,356
Lot Size
8,773
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
71
APN
5535-035-015

The source for these homes facts are from public records.

90029 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,195,000
Median List Price/Sq.Ft.
$802
Median Sold Price
$1,049,000
Median Sold Price/Sq.Ft.
$1,042
Total Inventory
34
Median Sale to List Price %
95.36%
Avg Days on Market
38
Loan Type
Conventional (60%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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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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