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1216 N Kenmore Ave
Los Angeles, CA 90029
All 2 BRs | New Electrical & Copper Plumbing · Multifamily Property For Sale
·
8 Units
Investment Highlights
- Every Unit Completely Remodeled with Modern Upgrades and High-End Amenities
- Attractive 5.91% Current CAP Rate and 11.99 Current GRM
- Several Major Building Systems Updated – New Electric Panels and Subpanels, New Copper Plumbing
- Interiors Feature In-Unit Washer/Dryers, Mini-Split HVAC Units, Carrara Granite Countertops, Stainless Steel Appliances, and Tankless Water Heaters
- Outstanding Unit Mix – All Two-Bedroom Units
- Reduced Expenses – Tenants Pay Own Gas, Electricity, and Trash Bills
Executive Summary
Marcus & Millichap is pleased to announce the opportunity to purchase 1216 N Kenmore Avenue, a completely remodeled multifamily property situated between Los Feliz, Silver Lake, and Virgil Village in Los Angeles, CA. Each of the eight apartments includes two bedrooms with spacious floorplans, as the building spans 7,896 square feet.
In recent years, the entire building has undergone an extensive renovation program that upgraded several major systems as well as all unit interiors. The plumbing was updated to copper pipes while new electrical panels and subpanels were installed, which may help reduce future insurance costs in addition to improving energy efficiency. Each unit also includes its own individual tankless water heater.
Apartment interiors now feature restored hardwood flooring, in-unit washer/dryers, Carrara granite countertops, mini-split HVAC units, and stainless steel appliances. Select units also have private balconies, while tenants also benefit from on-site parking – a rarity among multifamily buildings in this neighborhood – for eight vehicles.
Situated just three blocks from Los Feliz, just south of Barnsdall Art Park, the building affords tenants convenient access to nearby Sunset Junction and Silver Lake, Virgil Village, Larchmont Village, and Franklin Village. Residents can also easily venture into Hollywood to enjoy its world-renowned entertainment and dining experiences.
In recent years, the entire building has undergone an extensive renovation program that upgraded several major systems as well as all unit interiors. The plumbing was updated to copper pipes while new electrical panels and subpanels were installed, which may help reduce future insurance costs in addition to improving energy efficiency. Each unit also includes its own individual tankless water heater.
Apartment interiors now feature restored hardwood flooring, in-unit washer/dryers, Carrara granite countertops, mini-split HVAC units, and stainless steel appliances. Select units also have private balconies, while tenants also benefit from on-site parking – a rarity among multifamily buildings in this neighborhood – for eight vehicles.
Situated just three blocks from Los Feliz, just south of Barnsdall Art Park, the building affords tenants convenient access to nearby Sunset Junction and Silver Lake, Virgil Village, Larchmont Village, and Franklin Village. Residents can also easily venture into Hollywood to enjoy its world-renowned entertainment and dining experiences.
Property Facts
| Price Per Unit | $579,917 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.91% | Building Size | 7,896 SF |
| Gross Rent Multiplier | 11.99 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1927/2015 |
| Property Subtype | Apartment | Parking Ratio | 1.01/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | LARD1.5 - multiple dwelling zone | ||
| Price Per Unit | $579,917 CAD |
| Sale Type | Investment |
| Cap Rate | 5.91% |
| Gross Rent Multiplier | 11.99 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,896 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1927/2015 |
| Parking Ratio | 1.01/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 - multiple dwelling zone |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Washer/Dryer
- Kitchen
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $3,886 CAD | 950 |
| 2+1.5 | 4 | $3,941 CAD | 1,000 |
Property Taxes
| Parcel Number | 5540-011-003 | Improvements Assessment | $1,259,772 CAD |
| Land Assessment | $3,397,139 CAD | Total Assessment | $4,656,911 CAD |
Property Taxes
Parcel Number
5540-011-003
Land Assessment
$3,397,139 CAD
Improvements Assessment
$1,259,772 CAD
Total Assessment
$4,656,911 CAD
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