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1614 N Kenmore Avenue, Los Angeles, California 90027, Los Angeles, 90027 - bed, bath

1614 N Kenmore Avenue, Los Angeles, California 90027 home-pic-0
ACTIVE$2,120,000
1614 N Kenmore Avenue, Los Angeles, California 90027
0Bed
0Bath
7,616Sqft
6,113Lot
Year Built
1926
Close
-
List price
$2.12M
Original List price
$2.27M
Price/Sqft
$278
HOA
-
Days on market
-
Sold On
-
MLS number
CV25095999
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $2.12M(50th), sqft - 7616(50th), beds - undefined(50th), baths - undefined(50th).

We are proud to exclusively present the 1614 N Kenmore Avenue Apartments near the Thai Town, Little Armenia and Los Feliz neighborhoods of Los Angeles. Located walking distance from the Vermont/Sunset Metro Station, Barnsdall Art Park and Kaiser Permanente Medical Center. Northwest of the Hollywood (101) Freeway, South of Hollywood and North of Sunset Boulevard, this property offers an investor the unique opportunity to own one of the most "in-demand" pieces of real estate in the most attractive rental markets in Los Angeles. 1614 N Kenmore Avenue is a 12-unit multifamily property with a total building size of over 7,600 square feet. The well-maintained property, separately metered for electric and gas, is serviced by a central water heater and offers a unit mix of 4 studios and 8 one-bedroom/one-bathroom units. Owned by one family for over 30 years, it is in great condition! While the current ownership has diligently maintained the property, it has not been aggressive in increasing rents, allowing for a quoted pro-forma of almost 100% increase from current rental rates, allowing a new owner the opportunity to consistently increase rents for the near future and/or fully renovate the units to bring the property in line with nearby rental rates. *Note that there are currently 3 vacancies for a new owner to upgrade or rent themselves immediately! Given the property's solid real estate fundamentals, including its desirable location, unit mix and well-maintained building, 1614 N Kenmore Avenue is an ideal investment for a value-add investor seeking growth, stability, and a hedge against inflation.

Condition Rating
Poor
The property, built in 1926, requires substantial rehabilitation for its units, despite the exterior appearing well-maintained. The listing explicitly mentions an 'opportunity to fully renovate the units' and '3 vacancies for a new owner to upgrade.' Interior images confirm this need, particularly one showing a bathroom in an unfinished state with exposed framing above the tub tile, indicating it's not move-in ready. While new flooring is present in some areas, the lack of central AC (window units visible) and the overall dated feel, combined with the unfinished bathroom, point to significant work needed to bring units to a modern, rentable standard.
Pros & Cons

Pros

Prime Location: Strategically located near Thai Town, Little Armenia, and Los Feliz, with excellent walkability to the Vermont/Sunset Metro Station, Barnsdall Art Park, and Kaiser Permanente Medical Center, offering high tenant demand.
Significant Rent Upside: The property presents a substantial value-add opportunity with a quoted pro-forma of almost 100% increase from current rental rates, allowing for significant future income growth through rent optimization and renovations.
Immediate Value-Add Opportunity: Three vacant units are available for immediate renovation and re-leasing, enabling a new owner to implement their value-add strategy without delay and begin realizing increased rental income quickly.
Well-Maintained Condition: Owned by one family for over 30 years and described as being in 'great condition' and 'well-maintained,' suggesting lower immediate capital expenditures for basic upkeep.
Separately Metered Utilities: Units are separately metered for electric and gas, which reduces landlord operating expenses and encourages tenant responsibility for utility consumption.

Cons

Age of Property: Built in 1926, the property's age, despite being well-maintained, may imply potential for aging infrastructure (plumbing, electrical, roof) that could require significant capital investment in the long term.
Required Capital for Renovation: Achieving the projected 100% rent increase will necessitate substantial capital investment for unit renovations, which represents a significant upfront cost and risk for the new owner.
Lack of Mentioned Parking/Amenities: The description does not explicitly mention parking facilities or other common amenities (e.g., laundry, outdoor space) for a 12-unit building, which could be a drawback for tenants in a dense urban area and impact marketability.

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