941-1/2 S Kenmore Avenue

    Los Angeles (City), CA 90006
    • $3,950,000
    • STATUS: Active
    • ON SITE: 29 days
    • ID#: 20560910
    UPDATED: 64 min ago
    $3,950,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1923
    County:

    School Ratings & Info

    Description

    Built in 1923, this 24-unit property totals 13,800 SF on a 6,664 SF lot in the heart of Koreatown. The building features single units and has a community laundry room on-site.This offering presents an investor the opportunity to purchase a value-add investment with true rental upside. At the asking price, the price per square foot is $286 with a pro forma GRM of 10.52. The building is separately metered for gas and the exterior has just been painted.The Koreatown submarket remains one of the most desirable addresses for both living and working for residents who need to commute to both Downtown Los Angeles and Hollywood. The subject property is surrounded by new developments between 8th Street & Olympic Boulevard. With over 125,000 people living within one mile and an average home value of over $700,000 within a three-mile radius, the demand for apartment units continues to increase. The subject property has a walk score of 93 and is within walking distance to the Wilshire/Norma

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-04T10:38:44.09. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Compass. Licensed in the State of California, USA.

    www.themarellygroup.com/homes/103890731

    941-1/2 S Kenmore Avenue Los Angeles (City), CA 90006

    • Price: $3,950,000
    • Status: Active
    • Updated: 64 min ago
    • ID#: 20560910
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    1923
    Built
    Neighborhood:
    C17 - Mid-Wilshire
    County:
    Los Angeles
    Area:
    C17 - Mid-Wilshire
    Property Description
    Built in 1923, this 24-unit property totals 13,800 SF on a 6,664 SF lot in the heart of Koreatown. The building features single units and has a community laundry room on-site.This offering presents an investor the opportunity to purchase a value-add investment with true rental upside. At the asking price, the price per square foot is $286 with a pro forma GRM of 10.52. The building is separately metered for gas and the exterior has just been painted.The Koreatown submarket remains one of the most desirable addresses for both living and working for residents who need to commute to both Downtown Los Angeles and Hollywood. The subject property is surrounded by new developments between 8th Street & Olympic Boulevard. With over 125,000 people living within one mile and an average home value of over $700,000 within a three-mile radius, the demand for apartment units continues to increase. The subject property has a walk score of 93 and is within walking distance to the Wilshire/Norma
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet Parking Features None Parking YN No

    Property Features

    Gross Income 290946.00 Gross Multiplier 13.58 Gross Operating Income 282218.00 Net Operating Income 128650.00 Senior Community YN No Special Listing Conditions Standard Total Actual Rent 24045.00 Zoning R4-1

    Listing provided courtesy of Neema Ahadian of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-04T10:38:44.09. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Marelly Group | Compass. Licensed in the State of California, USA.

     
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    Bonsall CA, 92003