116 S Kings Los Angeles, CA 90048
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26159535
HOA Y/N No
Year Built 1937
Lot Size 7,026 Sqft
Property Sub-Type Apartment
Property Description
The asset is fully occupied and provides stable in-place income, while still offering significant upside through rent repositioning. Current scheduled rents are approximately $8,493/month compared to projected rents of approximately $20,400/month, creating substantial future income growth in one of Los Angeles' most sought-after rental submarkets.
Situated on a 7,000+ SF LAR3-zoned lot, the property offers the potential to add up to 3 ADUs (buyer to verify), providing investors with a clear opportunity to increase cash flow and maximize long-term value. For investors seeking a larger redevelopment or expansion opportunity, the neighboring property may also be available for purchase, creating the potential for an assemblage and a larger-scale development strategy in a premier Beverly Grove location. Buyer to verify all development potential.
Location
State CA
County Los Angeles
Area C19 - Beverly Center-Miracle Mile
Interior
Fireplace No
Laundry Inside
Exterior
Parking Features Garage, Uncovered
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Sidewalks, Urban
Total Parking Spaces 7
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5511016004
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange, Government Loan
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange, Government Loan
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS
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