Description

12827 Kling Street presents a rare opportunity to acquire an eight-unit multifamily asset in the heart of Studio City. Offered at $2,550,000, this property delivers a 4.99% cap rate and a 12.46 GRM, making it an attractive core-plus play for investors seeking immediate cash flow. With an 88% occupancy rate and one unit currently available, the building generates stable revenue today and offers upside through lease-up of the remaining vacancy.

Recently renovated in 2024, the property features modern finishes throughout and has been meticulously maintained to minimize near-term capital expenditures. The eight-unit configuration provides diversification across multiple households, while the current vacancy presents an opportunity to secure market rents in a high-barrier submarket. The robust performance metrics reflect the strong fundamentals of this high-demand rental corridor.

Situated on Kling Street in Studio City, the building benefits from exceptional proximity to Ventura Boulevard’s premier dining, retail, and entertainment offerings, as well as convenient access to major employment centers and transportation corridors. With sustained rent growth and limited new supply in this coveted Los Angeles submarket, 12827 Kling Street is ideally positioned for both steady income and long-term value appreciation.