Stats

• Listing Price $2,400,000
• Price per Unit $200,000
• Price per Sqft $182
• GRM 10.79
• Cap Rate 4.74%
• Number of Buildings 2
• Number of Units 12
• Gross Building Area 13,156 SF
• Lot Size 16,514 SF
• Parking 12 spaces
• Zoning LAR3-1

About the Property

The Kanner Group is pleased to present 221 & 227 S Kenmore Avenue, a rare two-property portfolio centrally located in the highly sought-after Koreatown/Mid-Wilshire neighborhood of Los Angeles, east of Normandie Avenue and south of W 2nd Street. The properties are located within the coveted Ambassador Heights and Edgemont Street–New Hampshire Avenue Multi-Family Residential Historic Districts, offering timeless architectural character in a high-demand urban setting.

Built in 1939, the portfolio comprises two directly adjacent, separate-APN six-unit buildings featuring an ultra-charming courtyard-style French Revival Norman architectural design with a shared central courtyard. The properties total 12 units (6 units per building), featuring a mix of four (2+1) units and eight (1+1) units, averaging approximately 1,400 square feet and 900 square feet, respectively, with an overall average unit size of approximately 1,096 square feet. Together, the buildings provide 13,156 gross square feet of living space (6,578 square feet per building) situated on 16,514 square feet of LAR3-1-zoned land (8,258 square feet and 8,256 square feet, respectively).The portfolio includes 16 on-site parking spaces (1 space per bedroom), consisting of 12 garage spaces and 4 uncovered spaces, is separately metered for gas and electricity, and features an on-site laundry room.

The offering presents a compelling TIC conversion opportunity, with pricing metrics of approximately $200,000 per door and $182 per square foot, positioning the asset well below replacement cost.

The units offer bright, comfortable interiors with a combination of hardwood, laminate, and tile flooring throughout living areas, bedrooms, and kitchens, creating a cohesive and inviting living environment. Abundant natural light fills each unit, highlighting clean finishes and a well-maintained condition. Kitchens provide ample cabinetry and countertop space, with select units showcasing newer white cabinetry and modern hardware. Bathrooms are equipped with updated vanities, contemporary fixtures, and glass-enclosed tub/shower combinations. Classic wall-mounted gas heaters add character while providing functional warmth, enhancing the overall charm and livability of each residence.

With a Walk Score of 90 — a true “Walker’s Paradise” — close proximity to Wilshire Boulevard, the 101, 2, 10, and 110 freeways, and just 0.8 miles from the Wilshire/Vermont Metro B (Red) and D (Purple) Line station, residents enjoy exceptional connectivity to the shopping, dining, entertainment, and cultural destinations of Koreatown, Westlake, Mid-Wilshire, Hollywood, and revitalized Downtown Los Angeles.

221 & 227 S Kenmore Avenue are well-positioned assets in a high-demand Koreatown/Mid-Wilshire market, offering an astute investor the opportunity to implement a strategic unit renovation program, optimize market rents as units turn, enhance common areas, and capitalize on approximately 92%+ income upside potential, unlocking meaningful appreciation and long-term value.