803 N Kingsley Drive, Los Angeles, California 90029, Los Angeles, 90029 - bed, bath
ACTIVE$2,489,000
803 N Kingsley Drive, Los Angeles, California 90029
0Bed
0Bath
5,390Sqft
7,314Lot
Year Built
2019
Close
-
List price
$2.49M
Original List price
$2.59M
Price/Sqft
$462
HOA
-
Days on market
-
Sold On
-
MLS number
SR25028029
Home ConditionExcellent
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $2.49M(83th), sqft - 5390(67th), beds - undefined(50th), baths - undefined(50th).
SELLER FINANCING AVAILABLE! This six year old 4 plex consists of two buildings each with 2-story side-by-side townhome style duplexes. Both duplexes consist of one 4bed/4.5 bath unit and one 3 bed/3.5 bath unit which means every bedroom has a bathroom plus another bathroom for the guest! All units are bright and airy with tons of windows and boast high quality finishes. They also come with stainless steel appliances, refrigerator and in-unitwasher and dryers. There are also 8 designated parking spaces. All the units are rented out with 5.7 CAP ($188,472 actual gross income) and seperately metered. These beautifully designed units are located in the Hollywood Studio District moments from Paramount, Netflix, Sunset Gower Studios and minutes from trendy Koreatown, Larchmont Village, action packed Sunset and Vine, and an unlimited supply of nearby studios, entertainment jobs, bars, restaurants, and neighborhood conveniences!
Nearby schools
5/10
Kingsley Elementary School
Public,•K-5•0.5mi
3/10
Ramona Elementary School
Public,•K-6•0.5mi
4/10
Alexandria Avenue Elementary School
Public,•K-5•0.5mi
3/10
Harvard Elementary School
Public,•K-5•0.6mi
6/10
Van Ness Avenue Elementary School
Public,•K-5•0.8mi
6/10
Dayton Heights Elementary School
Public,•K-5•0.9mi
4/10
Lockwood Avenue Elementary School
Public,•K-6•0.9mi
5/10
Cahuenga Elementary School
Public,•K-5•1.0mi
4/10
Frank Del Olmo Elementary School
Public,•K-6•1.0mi
6/10
Charles H. Kim Elementary School
Public,•K-5•1.0mi
/10
Lexington Avenue Primary Center
Public,•K-2•1.0mi
7/10
Dr. Sammy Lee Medical And Health Science Magnet Elementary
Public,•K-5•1.1mi
4/10
Grant Elementary School
Public,•K-6•1.2mi
7/10
Los Feliz STEMM Magnet
Public,•K-6•1.3mi
5/10
Virgil Middle School
Public,•6-8•1.0mi
3/10
Joseph Le Conte Middle School
Public,•6-8•1.1mi
6/10
Thomas Starr King Middle School
Public,•6-8•1.5mi
4/10
Young Oak Kim Academy
Public,•6-8•1.7mi
7/10
John Burroughs Middle School
Public,•6-8•2.4mi
4/10
Helen Bernstein High School
Public,•9-12•0.9mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•1.8mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•1.8mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•1.8mi
8/10
John Marshall Senior High School
Public,•9-12•2.2mi
6/10
Hollywood Senior High School
Public,•9-12•2.2mi
3/10
Belmont Senior High School
Public,•9-12•2.8mi
7/10
Fairfax Senior High School
Public,•9-12•3.3mi
Price History
Date
Event
Price
02/14/20
Sold
$2,450,000
09/12/18
Sold
$850,000
Condition Rating
Excellent
The property was built in 2019, making it only 5 years old. The description explicitly states 'high quality finishes' and 'stainless steel appliances, refrigerator and in-unit washer and dryers.' The images confirm modern, contemporary kitchens with sleek cabinetry, quartz countertops, and stainless steel appliances, as well as updated bathrooms with modern vanities and tiling. All components are virtually new, meeting current quality standards with no signs of deferred maintenance or physical depreciation.
Pros & Cons
Pros
Prime Location & High Demand: Strategically located in the Hollywood Studio District, moments from major employers like Paramount and Netflix, and minutes from trendy Koreatown and Larchmont Village, ensuring strong rental demand and tenant appeal.
Strong Financial Performance: Fully occupied with a robust 5.7 CAP rate and $188,472 actual gross income. All units are separately metered, which is highly beneficial for landlord expense management and cash flow.
Modern & Desirable Units: Built in 2019, the property features newer construction with high-quality finishes, stainless steel appliances, and in-unit washer/dryers. The unique configuration of every bedroom having its own bathroom is a significant tenant draw.
Townhome-Style Layout & Ample Parking: The property consists of two-story side-by-side townhome-style duplexes, offering enhanced privacy and a more residential feel. The provision of 8 designated parking spaces is a substantial advantage in a dense urban area like Los Angeles.
Seller Financing Available: The availability of seller financing offers a flexible and potentially attractive purchasing option for investors, which can facilitate the transaction and broaden the pool of interested buyers.
Cons
Limited Recent Capital Appreciation: The current list price is only marginally higher than the property's sale price in February 2020, which may suggest a slower rate of capital appreciation over the past four years compared to the broader Los Angeles market.
Absence of Distinctive Outdoor Space: While units are bright and airy, the description does not highlight significant private outdoor amenities (e.g., large patios, balconies for each unit) or communal recreational areas, which can be a key differentiator in the competitive LA rental market.
Potential for Higher Tenant Turnover: Given the dynamic nature of the Hollywood Studio District and its transient entertainment industry workforce, there might be a higher potential for tenant turnover, which could lead to increased vacancy costs and management efforts.