1315 N. Kingsley Dr, Los Angeles, CA 90027
5 Units in Hollywood With Owner-User Flexibility and Approx. 20% Rental Upside
1315 N Kingsley Dr is a 5-unit multifamily property located just north of Fountain Ave in Hollywood, positioned between Sunset Blvd and Santa Monica Blvd within one of the most consistently leased pockets of the submarket.
This section of Hollywood performs because of proximity and walkability. Tenants are within reach of Sunset retail, employment centers, and transit, while still on a residential street that feels removed from the heavier commercial corridors. Demand here is steady, not seasonal.
Front SFR With Rear Studios Creating Flexible Use Options
1315 N Kingsley Dr sits on an 8,478 SF LAR3-zoned lot and consists of (1) 3-bedroom, 2-bath single-family residence and (4) studio units across two separate structures.
The detached front house creates optionality that smaller 5-unit buildings typically do not offer. At the time of marketing, the 3-bedroom SFR and (1) studio were projected to be delivered vacant at close of escrow. That opens the door for an owner-user scenario, strategic lease-up, or phased renovation without disrupting the entire property at once.
The rear structure houses the remaining studios, providing straightforward rental income in a unit type that historically performs well in Hollywood due to affordability relative to larger floor plans.
Garage Space and Lot Depth Supporting ADU Potential
The property includes a large shared driveway, community yard, and (2) one-car garages positioned at the rear of the lot.
Given the LAR3 zoning and lot depth, the garages present a potential ADU conversion opportunity, subject to buyer verification and local approval. In this pocket of Hollywood, additional units often materially improve long-term yield when executed correctly.
The yard space and driveway also allow clean access between structures, keeping operations simple and manageable.
Offered at 4.70% CAP With Approx. 20% Rental Upside
1315 N Kingsley Dr was offered at $1,335,000, equating to $267,000 per unit and $413 per square foot.
Current scheduled gross income is approx. $96,540 annually, reflecting a 4.70% CAP rate and a 13.83 GRM on in-place rents.
Based on rental comparables in the immediate Hollywood and Little Armenia corridors, market rents support approx. $115,200 in projected annual gross income. At those levels, the property trends toward an estimated 6.06% CAP rate and an 11.59 GRM.
The approx. 20% rent delta is tied to interior condition and lease positioning rather than structural limitations. The unit mix is already aligned with the submarket. The opportunity centers on execution and timing.
Hollywood Location With Durable Rental Fundamentals
1315 N Kingsley Dr benefits from its proximity to Sunset Blvd, Santa Monica Blvd, and the broader Hollywood employment base. Major mixed-use development activity along nearby corridors continues to reinforce rental demand, particularly for studios and moderately sized residential homes.
Buildings in this pocket are typically underwritten based on unit functionality, vacancy exposure, and achievable rent comps. Layout flexibility and measurable upside carry more weight than promotional positioning.
1315 N Kingsley Dr reflects that profile. A manageable 5-unit asset with owner-user flexibility, garage-based ADU potential, and a clearly identifiable rent gap within one of Hollywood’s most active rental corridors.
Marketing Package:
Property Location
Sold Price
$1,310,000
Information
Number of Units
Price per. Unit
Bldg. Size
Price per Foot
Lot Size
Year Built
Current CAP
Market CAP
Zoning
Discuss Your Property with a Los Angeles Multifamily Broker
Whether you are thinking about selling now or simply exploring possibilities, we are happy to review your property, discuss current value, and share perspective on how the market is treating assets like yours today.
