1811 N KINGSLEY DRIVE, LOS ANGELES CA 90027
- 5,532 sq.ft.
- 11,616 sq.ft. lot
Property Description
Incredible opportunity in a prime Los Feliz adjacent location. Large property of close to 12,000 SF of land, offers many opportunities. There are currently 8 units spread over 3 bungalow style structures with 8 on site parking spaces. With a current cap rate of 5.89% and approximately 42% upside in existing rents, offering a cap rate of 9.4% at market rents. The large lot has potential for up to 6 ADUs or more, which would raise the cap rate to above 10%! Tenants pay their own trash, keeping expenses low. The large lot, zoned LAR3 also offers potential for ground up development.
Listing Courtesy of Shaya Lowenstein, Lyon Stahl Investment Real Estate, Inc.
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