845 S Kenmore Ave - Apartments FOR SALE


Los Angeles, CA 90005- Koreatown
$2,400,000 USD
213-943-1897
845 S Kenmore Ave, Los Angeles, CA for Sale
$2,400,000 USD
Apartments - FOR SALE
1/12
null | 7.04% Cap Rate

845 S Kenmore Ave
Los Angeles, CA 90005
Koreatown


HIGHLIGHTS

  • Select units renovated with in-unit washer/dryers, stainless steel appliances, laminate flooring, recessed lighting, wall AC, and mirrored closets
  • Two units will be delivered vacant with 14 percent remaining rental upside through interior renovations
  • Residents enjoy close access to The LINE Hotel, Chapman Plaza, City Center on 6th, and numerous restaurants, markets, and shops
  • Prime Koreatown location with a 95 Walk Score—steps from jobs, retail, and entertainment in Koreatown, Wilshire Park, and Mid-City

OVERVIEW

The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 12-unit apartment community located at 845 South Kenmore Avenue. The subject property is located just south of 8th Street within the desirable Koreatown sub-market. Situated on a 6,759 square foot parcel, the property is comprised of four studios and eight one-bedroom units. Two of the units will be delivered vacant allowing new ownership to immediately renovate and achieve market rental rates. The property has 14% remaining rental upside through unit renovations. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate remaining units and achieve superior future returns moving forward makes 845 South Kenmore an excellent acquisition opportunity. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$355 USD /SF

# OF UNITS

12

PRICE/UNIT

$200,000

CAP RATE

7.04%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

A Partially Renovated 12-Unit in Koreatown

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1963

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,759 SF

ZONING

R4-2, Los Angeles

APN/PARCEL ID

5094-016-018

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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