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144 S Kenmore Ave, Ktown

Value Add K-Town Fourplex

A MAJOR VALUE ADD PLAY!!! 75% vacant fourplex in the trendy Koreatown/Mid-Wilshire. All four units are ENORMOUS, feature gorgeous historical design elements, and would be perfect candidates for a cosmetic fix and flip (or hold and cash flow!). 7,141 sqft LAR3 lot, making for a potential ADU play in the rear of the lot. Whichever way you look at this deal, the upside is tremendous! Rare to find a property in LA where tenant buyouts aren't needed!

The Important
Details

List Price:

Property Type:

Status:

# Units:

Year Built:

Cap Rate:

GRM:

Gross Rent:

Bldg. SF:

Lot SF:

$/SF:

$/Unit:

Unit Mix:

Opportunity Zone:

Parking:

Other Features:

$1,399,000

Fourplex

In Escrow

4

1923

5.32% (Current), 6.14% (Pro Forma)

13.52 (Current), 11.90 (Pro Forma)

$103,488/Year (Current)

4,660 sqft

7,141 sqft

300.21

$349.750

3 x 2b/1b, 1 x 1b/1b

Yes

4 Garage Spaces, 4 Exterior Spaces

ADU Potential, Major Value Add Opportunity

The Highlights

  • Delivered 75% Vacant! Multiple tenant buyuts not needed!

  • Opportunity Zone! Major tax benefit!

  • ENORMOUS units featuring gorgeous historical design elements. Perfect candidates for a cosmetic fix & flip (or hold & cash flow!)

  • MAJOR VALUE ADD PLAY! 7,141 square foot LAR3 lot, making for ADU POTENTIAL in the rear of the lot.

  • All four units have their own laundry rooms! VERY RARE FIND!

  • Located in the trendy neighborhood of Koreatown/Mid-Wilshire, an area with tremendous amount of development an area that is highly appealing to renters.

  • Builing delivered with tons of recent mprovements such as; a cool roof in 2015, new exterior painting in 2017, an earthquake retrofit in 2017, a sewer line replacement in 2018, two new water heaters in 2023, & various small electrical updates in 2023.

  • Three carport parking spots & two exterior parking spots on site.

  • Unheard of price per door of $300.74!

  • It is rare to find a property in LA where countless tenant buyuts aren't needed- this is the opportunity you've been waiting for. Send in your offers before this is gone!

The Neighborhood

<15-Minute Walk

Vons, Starbucks, Maze Rooms Escape, Lock & Key, Pho Legend, Shatto 39 Lanes, Shatto Recreation Center, Ralphs, California Donuts, JONS, Biriyani Kabob House, Monte Carlo Bar, Ricas Crepas

<15-Minute Drive

Erewhon, Alfred Coffee, Echo Park Lake, Hancock Park, Speakeasy Fitness, Paramount Pictures Studio Tour, Target, 60out Escape Rooms, The Grove, Egg Tuck, Hollywood Walk of Fame, Los Feliz

<$15 Uber Ride

Erewhon, Alfred Coffee, Echo Park Lake, Hancock Park, Speakeasy Fitness, Paramount Pictures Studio Tour, Target, 60out Escape Rooms, The Grove, Egg Tuck, Hollywood Walk of Fame, Los Feliz

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Contact

Elizabeth Maddox

818.850.8485

Lauren Cearley

213.302.8662

Property Presented By:

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