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Great Unit Mix- 4 Unit Ktown 1144 S Kingsley Dr 4 Unit Apartment Building $1,199,000 ($299,750/Unit) 5.27% Cap Rate Los Angeles, CA 90006
Investment Highlights
- Substantial below-market rents - ~70% mark-to-market upside
- Five on-site parking spaces - a genuine submarket premium
- Desirable 3BR-weighted mix - two 3BR/2BA, one 2BR/2BA, one 1BR/1BA
- Walk Score 97 'Walker's Paradise' - transit-rich Koreatown
- LAR3 zoning - density and ADU upside (buyer to verify)
- $299,750 per unit - priced below comparable Koreatown sales
Executive Summary
Value-add four-unit multifamily in the heart of Koreatown (Walk Score 97). A 1922-vintage quadruplex across three detached buildings on a 5,909 SF LAR3 lot with five on-site parking spaces and a 3BR-weighted mix (two 3BR/2BA, one 2BR/2BA, one 1BR/1BA). Long-tenured residents with below-market rents (~70% upside to market) create a clear path from a 5.27% in-place cap to an 8.5% pro-forma cap. In-place NOI $63,169; pro-forma NOI $101,880. Immediate upside from leasing the vacant room in Unit 4 (~$7,680/yr), with renovation runway across all units on turnover. LAR3 zoning offers density/ADU potential (buyer to verify). Priced at $1,199,000 ($299,750/unit, $291/SF) - below comparable Koreatown sales. APN 5080-029-016 / MLS 25593013.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,199,000 | Apartment Style | Low-Rise |
| Price Per Unit | $299,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.27% | Building Size | 4,121 SF |
| Gross Rent Multiplier | 14.4 | No. Stories | 2 |
| No. Units | 4 | Year Built | 1922 |
| Property Type | Multifamily | Parking Ratio | 1.21/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LAR3 - Multiple Dwelling | ||
| Price | $1,199,000 |
| Price Per Unit | $299,750 |
| Sale Type | Investment |
| Cap Rate | 5.27% |
| Gross Rent Multiplier | 14.4 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,121 SF |
| No. Stories | 2 |
| Year Built | 1922 |
| Parking Ratio | 1.21/1,000 SF |
| Zoning | LAR3 - Multiple Dwelling |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+2 | 1 | - | - |
| 3+2 | 2 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5080-029-016 | Total Assessment | $1,578,455 |
| Land Assessment | $1,104,362 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $474,093 | Tax Year | 2025 |
Property Taxes
Parcel Number
5080-029-016
Land Assessment
$1,104,362
Improvements Assessment
$474,093
Total Assessment
$1,578,455
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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