1246-1248 N Kenmore Ave 10 Unit Apartment Building $3,561,246 CAD ($356,125 CAD/Unit) 3.89% Cap Rate Los Angeles, CA 90029

This rare Spanish-style courtyard apartment building presents an outstanding investment opportunity in the heart of Hollywood. Offered for the first time in over two decades, the property features three separate structures housing 10 units, including a two-story building with four apartments and two adjacent buildings with three units each. Significant capital improvements have been made, including a brand-new roof and recently renovated interiors completed in late 2025, ensuring long-term durability and tenant appeal.
Situated in a highly connected Hollywood neighborhood, the property benefits from proximity to dining, entertainment, hospitals, schools, and major freeways such as the 101, 10, 110, and 5, supporting strong rental demand. All units are separately metered for gas and electricity, reducing operating costs, with tenants responsible for their own utilities and the owner covering water service. Current income generation is supported by long-term tenants on both month-to-month and one-year leases. With annual income of approximately $141,372 and operating expenses of $40,115, this well-maintained investment offers immediate cash flow and long-term upside potential. The retiring seller is motivated and intends to complete a 1031 exchange, creating an efficient transaction for qualified buyers.