1758 N Kingsley Dr
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The sale of 1758 N Kingsley Dr represents one of the strongest price-per-unit outcomes in East Hollywood in recent years. Executed during a period of growing economic uncertainty, the transaction highlights how precise buyer targeting and disciplined execution can still achieve premium pricing for well-located value-add assets.
Background
1758 N Kingsley Dr is an 8-unit multifamily property located in East Hollywood, positioned minutes from established neighborhood corridors including N Vermont Ave, Hillhurst Ave, and Thai Town. The location also benefits from proximity to Los Feliz amenities while remaining anchored within an East Hollywood rental market that continues to attract durable tenant demand.
The property consists of a 2-story front duplex and a 3-story rear structure situated on an approx. 10,830 SF lot zoned LAR3. The rear building, which contains 6 of the 8 units, was constructed in 1987 and is subject only to California AB 1482 rather than local rent stabilization. At the time of sale, rents in the newer units were approx. 52% below-market compared to renovated products in the surrounding area, creating a clear value-add profile.
Ownership had grown fatigued with ongoing management responsibilities and sought to capitalize on a multifamily market supported by favorable debt conditions and strong investor demand for non-RSO assets. The objective was a clean exit that maximized value without pursuing incremental renovations.
Challenge
While the asset fundamentals were strong, execution required precision. Investor sentiment was beginning to shift, and pricing expectations at the upper end of the East Hollywood market required identifying buyers who understood both the in-place income and the long-term upside tied to rent growth and regulatory positioning.
Rather than pursuing broad exposure, outreach focused on buyers actively completing 1031 exchanges who were familiar with East Hollywood fundamentals and specifically seeking newer construction product exempt from local rent control
Result
Within 1 week of launch, an outside agent representing a qualified 1031 exchange buyer submitted an offer $200,000 over the asking price. The buyer’s underwriting reflected confidence in the asset’s regulatory profile, location, and long-term income growth potential.
Escrow closed in 45 days at a purchase price of $4,000,000, equating to $500,000 per unit. The sale of 1758 N Kingsley Dr ranks among the top 3 PPU multifamily transactions in East Hollywood over the past several years.
For the seller, the transaction delivered speed and certainty, with ownership exiting approx. 90 days after signing the listing agreement and achieving premium pricing without extended market exposure. The outcome reinforces the importance of buyer alignment, regulatory nuance, and disciplined execution when pursuing top-of-market results.
Story Details
Name
1758 N Kingsley Dr
Closed Time
60 Days
Price
$500,000
Location
Los Angeles
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