11 Units, 14.76 GRM, 4.64% CAP
The Kingsley Apartments is an 11 unit apartment building, located in the Heart of Hollywood, consisting of 10 one bedroom one bathroom units, and 1 two bedroom one bathroom unit.
Four of the Eleven tenants are Section 8 tenants. There is one unit vacant and all others are occupied, with rent collections made in full ever since the pandemic, including those with Section 8 tenants.
There are five tandem parking spaces, and the remaining six units do not have parking. There is a laundry facility on-site, and storage spaces located above the parking spaces. Soft-story retrofit plans have been fully approved, and are shovel-ready, allowing investors to recoup future capex reimbursements from tenants.
Prime location of Hollywood, with constant redevelopment all around!
Total annual gross income for the property is $186,349. Low property expenses, easy management, and steady income, make the Kingsley Apartments a desirable investment for anyone looking to own an apartment building in Hollywood, with close proximity to various shops, eateries, and metro train station!
© Baboudjian Properties, Inc.