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201-207 S Kenmore Ave
Los Angeles, CA 90004
Multifamily Property For Sale
·
16 Units
Investment Highlights
- Exceptional opportunity to purchase an asset well below replacement cost @ $143K/unit and $268/Sqft
- Located in the coveted Ambassador Heights and Edgemont Street-New Hampshire Avenue Multi-Family Residential Historic Districts
- 12 Studios and 4 Bachelors; 12 on-site parking spaces, on-site laundry, & separately metered for gas and electric
- Charming traditional style courtyard building on a quieter street lined with trees & classic character building in a historic district
- Exceptional Walk Score of 90, a true “Walker’s Paradise”
- 4 Vacancies with 42%+ income upside potential through strategic unit renovations and rent optimization
Executive Summary
The Kanner Group is pleased to present 201–207 S Kenmore Avenue — a rare two-building portfolio centrally located in the highly sought-after Koreatown/Mid-Wilshire
neighborhood of Los Angeles, east of Normandie Avenue and north of W 3rd Street. The property is situated within the coveted Ambassador Heights and Edgemont Street–New Hampshire Avenue Multi-Family Residential Historic Districts, on a quieter, tree-lined street characterized by classic architecture and enduring neighborhood charm. Built in 1940, the portfolio comprises two charming traditional-style courtyard buildings, totaling 16 units, with a mix of 12 studios and 4 bachelors averaging approximately 500 SF
and 400 SF, respectively. Together, the buildings provide 8,576 gross square feet of living space on a 12,123-square-foot LAR3-1-zoned lot, with 12 on-site parking spaces for residents. The property is separately metered for gas and electric and contains an on-site laundry room. The asset represents an exceptional opportunity to acquire a property well below replacement cost. The units feature bright, comfortable interiors with laminate flooring throughout the living areas and kitchens, creating a cohesive, inviting atmosphere. The units are filled with natural light that accentuates their clean finishes and well-maintained condition. Kitchens provide ample cabinetry and countertop space, with select units featuring newer cabinetry and modern hardware. Select bathrooms include updated vanities, fixtures, and tub/shower combinations. With a Walk Score of 90 — a true “Walker’s Paradise” — and just minutes from Wilshire Boulevard, the Wilshire/Vermont Metro B (Red) and D (Purple) Line station (approximately 0.9 miles away), and convenient access to the 101, 2, 10, and 110 freeways, residents enjoy effortless connectivity to the shopping, dining, entertainment, and cultural destinations of Koreatown, Westlake, Mid-Wilshire, Hollywood, revitalized Downtown Los Angeles, and beyond. 201–207 S Kenmore Avenue is a well-positioned asset that offers an astute investor the opportunity to implement a targeted unit renovation program and common-area refresh, capitalizing on four current vacancies and achieving approximately 42%+ income upside through strategic rent optimization, driving significant appreciation and long-term returns.
neighborhood of Los Angeles, east of Normandie Avenue and north of W 3rd Street. The property is situated within the coveted Ambassador Heights and Edgemont Street–New Hampshire Avenue Multi-Family Residential Historic Districts, on a quieter, tree-lined street characterized by classic architecture and enduring neighborhood charm. Built in 1940, the portfolio comprises two charming traditional-style courtyard buildings, totaling 16 units, with a mix of 12 studios and 4 bachelors averaging approximately 500 SF
and 400 SF, respectively. Together, the buildings provide 8,576 gross square feet of living space on a 12,123-square-foot LAR3-1-zoned lot, with 12 on-site parking spaces for residents. The property is separately metered for gas and electric and contains an on-site laundry room. The asset represents an exceptional opportunity to acquire a property well below replacement cost. The units feature bright, comfortable interiors with laminate flooring throughout the living areas and kitchens, creating a cohesive, inviting atmosphere. The units are filled with natural light that accentuates their clean finishes and well-maintained condition. Kitchens provide ample cabinetry and countertop space, with select units featuring newer cabinetry and modern hardware. Select bathrooms include updated vanities, fixtures, and tub/shower combinations. With a Walk Score of 90 — a true “Walker’s Paradise” — and just minutes from Wilshire Boulevard, the Wilshire/Vermont Metro B (Red) and D (Purple) Line station (approximately 0.9 miles away), and convenient access to the 101, 2, 10, and 110 freeways, residents enjoy effortless connectivity to the shopping, dining, entertainment, and cultural destinations of Koreatown, Westlake, Mid-Wilshire, Hollywood, revitalized Downtown Los Angeles, and beyond. 201–207 S Kenmore Avenue is a well-positioned asset that offers an astute investor the opportunity to implement a targeted unit renovation program and common-area refresh, capitalizing on four current vacancies and achieving approximately 42%+ income upside through strategic rent optimization, driving significant appreciation and long-term returns.
Property Facts
| Price Per Unit | $196,539 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 5.72% | Building Size | 8,576 SF |
| Gross Rent Multiplier | 9.76 | No. Stories | 2 |
| No. Units | 16 | Year Built | 1940 |
| Property Type | Multifamily | Parking Ratio | 1.4/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R3-1, Los Angeles | ||
| Price Per Unit | $196,539 CAD |
| Sale Type | Investment |
| Cap Rate | 5.72% |
| Gross Rent Multiplier | 9.76 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 8,576 SF |
| No. Stories | 2 |
| Year Built | 1940 |
| Parking Ratio | 1.4/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3-1, Los Angeles |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 16 | - | 400 - 500 |
Property Taxes
| Parcel Number | 5518-014-001 | Improvements Assessment | $657,278 CAD |
| Land Assessment | $1,643,200 CAD | Total Assessment | $2,300,478 CAD |
Property Taxes
Parcel Number
5518-014-001
Land Assessment
$1,643,200 CAD
Improvements Assessment
$657,278 CAD
Total Assessment
$2,300,478 CAD
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