724 N Kingsley, Hollywood
East Hollywood 6-Unit
An ultra-premium new construction 6-unit in Melrose Hill (Hollywood), minutes from Hollywood/Highland, Los Feliz, Larchmont Village & Silver Lake! With high-end finishes, unmatched construction quality & an unheard of 6.07% projected cap rate, this is a rare investment opportunity in one of LA's most sought-after neighborhoods. With spacious layouts & modern design elements, this building is perfectly suited to attract top-tier tenants seeking luxury living in a vibrant, centrally located area.
The Important
Details
List Price:
Property Type:
Status:
# Units:
Year Built:
Cap Rate:
GRM:
Gross Rent:
Bldg. SF:
Lot SF:
$/SF:
$/Unit:
Unit Mix:
Opportunity Zone:
Parking:
Rent Control:
$4,195,000
6-Unit
In Escrow
6
2024
6.07%
12.62
$332,400/Year (Pro Forma)
9,249 sqft
8,772 sqft
$453.56
$699,167
2 x 5b/5b, 1 x 4b/4b+Den, 1 x 4b/4b, 2 x 4b/2b
No
12 Parking Spots (10 + 2 Large Bonus Spots)
Yes
Other Features:
Private Washers/Dryers for Each Unit
The Highlights
MAJOR CASH COW! Out of this world pro forma cap rate of 6.07%!
Unbeatable unit mix consisting of two 5 bedroom units and four 4 bedroom units.
Property comes fully loaded with premium kitchen appliances, washers + dryers. Totally turnkey!
UNHEARD OF price per door of $699,167! This is a price per door you won’t find elsewhere!
Dream 1031 exchange opportunity. Ready to close soon!
12 PARKING SPACES on site!
All units separately metered for gas, electric AND water! Microscopic expenses!
Views of the Hollywood sign and the Griffith Observatory!
Large open floorplans!
Outstanding Hollywood (Melrose Hill) location minutes from the heart of Hollywood, Los Feliz, Silver Lake, Larchmont Village, and Koreatown.
With SB-8 in effect, less new constructions are being built, making properties like these an even more rare and hot commodity.
The Neighborhood
<15-Minute Walk
Los Angeles City College, Sqirl, Courage Bagels, California Grill, Melody, KinKan LA, Bolita, Alma's Cider & Beer, Voodoo Vin, Maison Matho, The Peace Center Gym, El zarape Melrose, Bar Latino Tully's Coffee Big Mama's & Papa's Pizzeria, It’s Boba Time
<15-Minute Drive
Pine and Crane Silverlake, The RubyFruit, Millie's Café,
Bacari, Silver Lake Farmers Market, 33 Taps Silver Lake, Bar Moruno, Kitsune, Intelligentsia Coffee Silver Lake Coffeebar, 4100 Bar, La Colombe Coffee Roasters, Bowery Bungalow, The Virgil, Akbar
<$15 Uber Ride
Pine and Crane Silverlake, The RubyFruit, Millie's Café,
Bacari, Silver Lake Farmers Market, 33 Taps Silver Lake, Bar Moruno, Kitsune, Intelligentsia Coffee Silver Lake Coffeebar, 4100 Bar, La Colombe Coffee Roasters, Bowery Bungalow, The Virgil, Akbar
Contact
Lauren Cearley
213.302.8662
Property Presented By:
