Stats

• Listing Price $2,300,000
• Price per Unit $143,750
• Price per Sqft $268
• GRM 9.76
• Cap Rate 5.72%
• Number of Buildings 2
• Number of Units 16
• Gross Building Area 8,576 SF
• Lot Size 12,123 SF
• Parking 12 spaces
• Zoning LAR3-1

About the Property

The Kanner Group is pleased to present 201–207 S Kenmore Avenue — a rare two-building portfolio centrally located in the highly sought-after Koreatown/Mid-Wilshire neighborhood of Los Angeles, east of Normandie Avenue and north of W 3rd Street. The property is situated within the coveted Ambassador Heights and Edgemont Street–New Hampshire Avenue Multi-Family Residential Historic Districts, on a quieter, tree-lined street characterized by classic architecture and enduring neighborhood charm.

Built in 1940, the portfolio comprises two charming traditional-style courtyard buildings, totaling 16 units, with a mix of 12 studios and 4 bachelors averaging approximately 500 SF and 400 SF, respectively. Together, the buildings provide 8,576 gross square feet of living space on a 12,123 square-foot LAR3-1-zoned lot, with 12 on-site parking spaces serving the residents. The property is separately metered for gas and electric and contains an on-site laundry room. The asset represents an exceptional opportunity to acquire a property well below replacement cost.

The units offer bright, comfortable interiors with laminate flooring throughout living areas and kitchens, creating a cohesive and inviting atmosphere. The units are filled with natural light that accentuates their clean finishes and well-maintained condition. Kitchens provide ample cabinetry and countertop space, with select units featuring newer cabinetry and modern hardware. Select bathrooms include updated vanities, fixtures, and tub/shower combinations.

With a Walk Score of 90 — a true “Walker’s Paradise” — and just minutes from Wilshire Boulevard, the Wilshire/Vermont Metro B (Red) and D (Purple) Line station (approximately 0.9 miles away), and convenient access to the 101, 2, 10, and 110 freeways, residents enjoy effortless connectivity to the shopping, dining, entertainment, and cultural destinations of Koreatown, Westlake, Mid-Wilshire, Hollywood, revitalized Downtown Los Angeles, and beyond.

201–207 S Kenmore Avenue is a well-positioned asset offering an astute investor the opportunity to implement a targeted unit renovation program and common-area refresh, capitalizing on four current vacancies and achieving approximately 42%+ income upside potential through strategic rent optimization, driving significant appreciation and long-term returns.