205 N Kenmore Ave - Apartments FOR SALE


Los Angeles, CA 90004
$4,950,000 USD
310-909-5406
205 N Kenmore Ave, Los Angeles, CA for Sale
$4,950,000 USD
Apartments - FOR SALE
1/9
null | 6.37% Cap Rate

205 N Kenmore Ave
Los Angeles, CA 90004


HIGHLIGHTS

  • Marcus & Millichap is pleased to present 205 N Kenmore Ave, a 31-unit multifamily investment opportunity in the Koreatown neighborhood
  • The property features a unit mix of 31 singles
  • At the asking price, the property is being offered at a 6.37% CAP rate at 9.35 GRM on current income with an additional 13% rental upside
  • The property has professional landscaping and a secured, gated entrance with intercom access and security cameras; significant cap ex invested
  • The building is separately metered for electricity and has an on-site laundry room with three washers and two dryers

OVERVIEW

Marcus & Millichap is pleased to present 205 N Kenmore Ave, a 31-unit multifamily investment opportunity in the Koreatown neighborhood of Los Angeles located between Beverly Blvd & 1st St. The property features a unit mix of 31 singles; renovated units include refinished floors, updated appliances, tile bathrooms, new cabinetry, and ceiling fans. At the asking price, the property is being offered at a 6.37% CAP rate at 9.35 GRM on current income with an additional 13% rental upside achievable as units turn through continued interior renovations. The property has professional landscaping and a secured, gated entrance with intercom access and security cameras; significant cap ex has been invested by ownership into the systems and common areas including new security camera system, solar thermal panels, storage tank, common area paint, and new intercom. The building is separately metered for electricity and has an on-site laundry room with three washers and two dryers (lease with Dadson) High Walk Score of 87, the property is walking distance to the Metro Red & Purple Rail Lines, and Metro Local Lines along Beverly Blvd & 1st St. This neighborhood of Koreatown is ideally located with a short commute to Downtown Los Angeles, Hollywood, and Mid-City.

FOR SALE DETAILS

PRICE

$4,950,000 USD

PRICE/SF

$321 USD /SF

# OF UNITS

31

PRICE/UNIT

$159,677

CAP RATE

6.37%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kenmore Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,606 SF

ZONING

R3, Los Angeles

APN/PARCEL ID

5518-017-026

ASK ABOUT THIS PROPERTY

Patricia EscobarMarcus & MillichapMore Info
310-909-5406

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Patricia EscobarMarcus & MillichapMore Info
310-909-5406

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.