1315 N Kingsley Dr
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The sale of 1315 N Kingsley Dr followed a stalled initial listing and ultimately resulted in multiple offers once the property was repositioned correctly. The owner-user configuration, vacancy, and development optionality drove renewed interest and led to a successful close near the asking price.
Background
1315 N Kingsley Dr is a 5-unit owner-user property located just north of Fountain Ave in East Hollywood. The asset sits on an approx. 8,478 SF lot and is improved with 2 separate structures, offering a layout that supports privacy, flexibility, and long-term value creation.
The property featured a vacant 3-bdrm., 2-bath single-family home at the front of the lot, along with 4 studio units located in a secondary structure. Amenities included a large shared driveway, a community yard, and 2 one-car garages. The garages presented additional long-term optionality through potential ADU conversion, subject to buyer verification.
At the time of sale, in-place rents across the studio units were approx. 20% below market compared to renovated units in the surrounding area, positioning the property as a clear value-add opportunity for buyers willing to invest capital over time.
Ownership had held the property for several years and elected to sell as part of a planned transition into retirement.
Challenge
Prior to being repositioned, 1315 N Kingsley Dr had been listed with a large commercial brokerage for approx. 4 months without generating any offers. The marketing failed to connect with buyers who understood the owner-user appeal and long-term flexibility of the asset.
The challenge was not market demand, but correctly framing the opportunity to buyers who valued vacancy, layout, and future upside rather than viewing the property strictly through a stabilized income lens.
Result
Once relaunched with clearer positioning, interest increased immediately. Over the course of the listing period, more than 8 offers were generated, reflecting demand for owner-user properties with value-add components in East Hollywood.
The seller ultimately selected an offer at 96% of the list price. Escrow closed successfully, allowing ownership to exit ahead of retirement plans.
For the buyer, the acquisition of 1315 N Kingsley Dr provided the opportunity to occupy the front residence while renovating the remaining units over time, capturing rental upside and long-term appreciation in a neighborhood that continues to attract both residents and investors.
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