1150 Kingsley Drive, Los Angeles

$1,350,000

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0 Bed
0 Bath
.18 Acre
0 Garage

We are pleased to present an excellent development opportunity near Santa Monica Blvd and Normandie Ave in East Hollywood! The existing structure on the lot consists of a fixer 6 unit building of which 4 UNITS WILL BE DELIVERED VACANT! Boasting a lot size of +/- 7,895 sq. ft., zoning of LARD1.5, and Tier 2 TOC designation, the potential possibilities for this property are endless! The property at 1156 N Kingsley (just 2 doors down) is currently being developed into a 49 unit affordable housing project utilizing ED-1 and a similar affordable housing project can be done on this lot! Buyer to investigate. The buyer can also reap tax benefits as the property is in an Opportunity Zone! There are 4 detached garages in the back lot, which can also be converted to one or more ADUs to generate additional rental income. Given the building's central location in the bustling rental Hollywood rental market and close to Virgil Village, Melrose Hill, and the numerous establishments across Santa Monica Blvd., this is a value-add investment not to be missed!

Essential Information

MLS® #
SR24045813
Price
$1,350,000
Bathrooms
0.00
Acres
0.18
Type
Land
Status
Active

Community Information

Address
1150 Kingsley Drive
Area
C20 - Hollywood
City
Los Angeles
County
Los Angeles
Zip Code
90029
Senior Community
N

Community Features

Curbs, Storm Drain(s), Street Lights, Sidewalks

Amenities

View
None

Additional Information

Date Listed
March 8th, 2024
Days on Market
71
Zoning
LARD1.5

Listing Details

Agent
Anie Mayelian

Office

Keller Williams Realty Calabasas

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Buyer's Agent

Jeremiah Moersch REALTOR®

Office: 760-533-2540
Listing Agent
Anie Mayelian - Keller Williams Realty Calabasas

Based on information from California Regional Multiple Listing Service, Inc. as of May 18th, 2024 at 5:30pm PDT. 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.