162 N Kenmore Ave - Apartments FOR SALE


Los Angeles, CA 90004- Koreatown
$2,675,000 USD
213-305-9026
162 N Kenmore Ave, Los Angeles, CA for Sale
$2,675,000 USD
Apartments - FOR SALE
1/8
null | 5.2% Cap Rate

162 N Kenmore Ave
Los Angeles, CA 90004
Koreatown


HIGHLIGHTS

  • 162 N Kenmore Avenue is a unique and special investment opportunity on a great street in Koreatown.
  • 18 attractive units – one (1) Bachelor apartment, fifteen (15) Studio apartments, and two (2) One Bedroom / One Bath apartment units.
  • Unit upgrades include new modern flooring, updated electrical, updated bathrooms/kitchens with new appliances and countertops, and sleek fixtures.
  • Separately metered for gas and master metered for electricity. Consequently, ownership will have the opportunity to increase annual rents by 4%.
  • The building offers secure access along with on-site washers and dryers, which are leased.
  • Short distance from the City's primary employers in Downtown Los Angeles and Hollywood and has world-class access to public transportation.

OVERVIEW

Built in the 1924, 162 N Kenmore Avenue is a unique and special investment opportunity on a great street in Koreatown. The property consists of 18 attractive units – one (1) Bachelor apartment, thirteen (13) Studio apartments, and four (4) One Bedroom / One Bath apartment units. Investors and tenants alike will note the striking and welcoming 1920s design and aesthetic throughout. The updated exterior façade makes the property stand out amongst neighboring buildings, and the lobby and common areas promote a welcome and turn-of-the-century aesthetic. 162 N Kenmore Avenue is separately metered for gas and master metered for electricity. Consequently, ownership will have the opportunity to increase annual rents by 4%. Additionally, potentiality exists to create new revenue streams with the implementation of a RUBs system. The building offers secure access along with on-site washers and dryers, which are leased. Located in Koreatown, 162 N Kenmore Avenue is a short distance from the City's primary employers in Downtown Los Angeles and Hollywood and has world-class access to public transportation. With a Walk Score of 83 out of 100, the location is Very Walkable, and most errands can be accomplished on foot.

FOR SALE DETAILS

PRICE

$2,675,000 USD

PRICE/SF

$296 USD /SF

# OF UNITS

18

PRICE/UNIT

$148,611

CAP RATE

5.2%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

18-Unit Apartment Community in Koreatown

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1924

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,126 SF

ZONING

R3, Los Angeles

APN/PARCEL ID

5518-018-012

ASK ABOUT THIS PROPERTY

Rich JohnsKW CommercialMore Info
213-305-9026

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Rich JohnsKW CommercialMore Info
213-305-9026

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