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974 W Kensington Road

Los Angeles, CA 90026

– beds
– baths
– sqft
9,377 sqft lot
1961 build
– on site

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GROSS RENT MULTIPLIER OF 10 BASED ON MARGET RENTS IN AS-IS CONDITION AND 16.4 BASED ON EXISTING RENTS.The property is located on a quiet street in Angelino Heights adjacent to Echo Park and Dodger Stadium.Easy commute to Downtown LA, Hollywood and the Miracle Mile. Close to shopping, restaurants andentertainment. Vintage 60's vibe and design with solid wood cabinets, wall heaters and individual wall A/Cunits. Building is well maintained but retains the original 60's ambiance.The property is subject to the LA Rent Stabilization Ordinance. Which in conjunction with COVIDrestrictions has resulted in rents well below market.The property has been managed by the owner who resides nearby and takes pride in the property. Significant management upside when COVID restrictions expire. Rents are currently below market, however, the moratorium on rental increases is currently expected to expire in January of 2024. Existing Rents average $1,128/mo./unit while Market rents are estimated to be $1,850/ mo. in as-is condition and $2,500/mo./unit if the units are renovated. Gross Income, Expenses, NOI and Cap Rate reflect estimated market rents and expenses in as-is condition. Rent collected in 2021 was $115,387.It may be possible to convert the existing carports, storage room and laundry room into 2 ADU's. Buyer to investigate the feasibility of the conversion.This is a great opportunity for either a first time orexperienced multi-family investor to acquire a fairlypriced, well located property with the potential forsignificant upside in rent and value.Drive by only. Please do not enter the property or otherwise disturbthe tenants.Please submit all offers for consideration by the Seller.

Listed By CRMLS_CA / Donald Hinton / Engel & Voelkers La Canada

Last checked: Checking… • Last updated May 21, 2024 •

MLS# P1-13746 —

The Building

Year Built:

1961
Year Built Source:

Public Records
New Construction:

No
Construction Materials:

Plaster, Drywall Walls, Stucco
Building Area Total:

5484.00
# of Buildings:

1
Architectural Style:

Mid Century Modern
Roof:

Shingle, Membrane, Mixed
Foundation:

Slab
Stories Total:

2
Entry Level:

1
Common Walls:

2+ Common Walls
Faces:

Southwest
# of Separate Gas Meters:

10
# of Separate Electric Meters:

10

Interior

Features:

Ceramic Counters, Copper Plumbing Full, Ceiling Fan(s)
Levels:

Two
Entry Location:

ground floor and stairs to second floor.
Flooring:

Carpet, Vinyl
Fireplace:

No
Fireplace:

None
Laundry:

Community
Laundry:

1

Location

Directions:

South of Sunset Blvd.
Latitude:

34.07414400
Longitude:

-118.25591800

The Property

Property Type:

Residential Income
Subtype:

Apartment
Zoning:

LARD2
Lot Features:

Garden
Lot Size Area:

9377.0000
Lot Size Acres:

0.2153
Lot Size SqFt:

9377.00
Lot Size Source:

Public Records
View:

None
Fence:

Yes
Road Frontage:

City Street
Road Surface Type:

Paved
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Lot:

1

The Listing

Special Listing Conditions:

Standard, Trust
Parcel Number:

5405004016

Heating & Cooling

Heating:

1
Heating:

Wall Furnace
Cooling:

Yes
Cooling:

Electric, Wall/Window Unit(s)

Utilities

Utilities:

Electricity Connected, Water Connected, Sewer Connected, Natural Gas Connected
Sewer:

Sewer Paid
Electric:

Standard
Water Source:

Public

Appliances

Appliances:

Refrigerator, Gas Water Heater, Gas Range, Gas Oven
Included:

Yes

The Community

Subdivision:

Not Applicable
Features:

Curbs
Inclusions:

10 stoves, 10 refrigerators and coin operated washer and dryer.
Pool:

None
Senior Community:

No
Private Pool:

No
Spa Features:

None
Assessments:

No
Assessments:

None

Parking

Parking:

Yes
Parking:

Assigned, Off Street, Uncovered, On Site, Attached Carport
Parking Spaces:

10.00
Uncovered Spaces:

8.00
Carport Spaces:

2.00

Extra Units

Average 1 Bed Area:

495

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My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
10/20/23 Oct 20, 2023		BRIDGE	$2,225,000	-19.1%
6/6/23 Jun 6, 2023		BRIDGE	$2,750,000
5/26/23 May 26, 2023	Listed / Active	CRMLS_CA	$2,750,000

Multifamily Sold on 12/1/2023

$2,100,000

Listing provided by broker:

Donald Hinton

Engel & Voelkers La Canada

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Listing Courtesy of: CRMLS_CA and Engel & Voelkers La Canada. Based on information from California Regional Multiple Listing Service, Inc. as of 00:05 on May 12.

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.

974 W Kensington Road

Los Angeles, CA 90026