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709 South Kingsley Drive
Los Angeles, CA 90005


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Property Remarks

Back on Market!!! Rare investment opportunity in the heart of Koreatown. No rent control restrictions in this newly built 15 unit apartment building. Each unit is individually metered with laundry room that generates additional income for the owner. No onsite manager required. Building has 18 secured subterranean parking spaces which provides enough spaces for every unit. Newly updated common areas with lots of potential for revenue growth. Central location to all that Koreatown has to offer including restaurants, cafes, markets, Wiltern Theater, and the Western/Wilshire Metro station.

Property Details

MLS#
17266562
Days on Market
82
Year Built
1989
Stories
3
Building/Living Area (sq ft)
11,216
Source of SqFt
Vendor Enhanced
Source of Lot Size
Vendor Enhanced

Location

State
CA
County
Los Angeles
Area
Mid-Wilshire (C17)

Presented By:

Listing provided courtesy of Luis Rhee , Metis Real Estate


Exterior

Garage Spaces
10
Lot Acreage
10
Paved
No
Waterfront
No


Interior

Cooking Appliances
Built-Ins

Additional Property Details

Number of Units
15
Parking Spaces
21
Number of Buildings
1
Gross Operating Income
$281,520
Total Expense
$68,983
ADA Compliance
No

AC/Cooling
Central A/C
Heating
Central Furnace
Parking
Gated Underground Parking

Koreatown

Where futuristic neon meets historic buildings, Koreatown’s central location and busy streets make it a fun and active neighborhood. Centered on Wilshire Boulevard and located just West of Los Angeles, K-Town, as it is also called is home to hip bars and clubs and has a lively East-meets-West appeal.

Real Estate: Lofts, condos and apartments for sale are prevalent in Koreatown although there are also a few single-family homes available. New luxury developments such as The Vermont offer plenty of apartments for rent.

Community Life: Karaoke bars are popular in this area. Aroma Spa & Sports has a driving range delivering on the unique experience of hitting golf balls among skyscrapers. Koreatown Plaza is full of unique shops and has a food court filled with Korean specialties.

Education: Koreatown is served by the Los Angeles Unified School District. Nearby schools include Central City Value charter high school, Ambassador School of Global Leadership, New Open World Academy, Virgil Middle School, Cahuenga Elementary and Young Oak Kim Academy. Private schools include Saint Brendan School elementary, new Horizon School and Saint James Episcopal Day School. The Korean Education Center, affiliated with the government of South Korea is on Wilshire Place. Southwestern Law School is located in the historic Art Deco-styled Bullock’s Wilshire building.

Transportation: Spanned by Wilshire Boulevard and Olympic Boulevard, Koreatown has many public transportation options including the Metro purple line and the Wilshire Rapid bus.

Local Attractions:  The site of the former Ambassador Hotel where Robert F. Kennedy was assassinated is now a high school and a memorial plaza. Hip dining and accommodations can be found at the Line Hotel founded by Roy Choi and partners. The Art-Deco-styled Wiltern is not only a great place to see a show, it and the Pellissier Building are on the National Register of Historic Places. Dawooljong, the Korean Pavilion, is an open-air pavilion and garden that adds a touch of Korea to the heart of the city.

Community Explorer

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