101 N. Kenmore Ave. is an 8-unit Melrose Hill offering priced at $195,000 per unit and $203 per SF, and operating at a 9.01 GRM and .599% CAP on current rents. The pricing aligns with recent sales in the area, while offering stronger in-place income and approx. 25% rental upside… Read More based on renovated units nearby. The property is located approx. 0.6 miles from the 6th St. corridor surrounding Chapman Market, approx. 1.5 miles from Wilshire/Western and the core of Koreatown, and within close reach of Larchmont Village. This positioning places residents near a dense mix of restaurants, cafs, and neighborhood retail, while maintaining access to multiple employment corridors that continue to support steady rental demand throughout Mid-City. Originally constructed in 1925, the building features a Spanish-style exterior with a warm stucco faade, decorative parapet lines, and a centered entry that opens into a gated front courtyard. The layout creates separation from the street and reflects the type of character-driven housing that continues to perform well in Melrose Hill. The unit mix and building configuration support a straightforward value-add strategy. Based on renovated rental comparables, the property offers approx. 25% rental upside, with stabilization projected at an 9.15% CAP and 7.22 GRM. Additional upside exists through the detached rear garage structure, which presents potential for ADU conversion or expansion, subject to buyer verification. ***Major building systems have already been addressed. Recent capital improvements include vertical plumbing upgrades in select units, sewer line replacements and connection work, copper plumbing upgrades, roof repair and waterproofing, and common area improvements. Additional work includes window screen replacements, exterior painting, and select system updates, reducing near-term capital requirements and allowing a buyer to focus on interior turnover and rent growth.*** With in-place income, completed system upgrades, and a location positioned between the 6th Street corridor, Koreatown, and Larchmont Village, 101 N. Kenmore Ave. offers an 8-unit Melrose Hill asset where pricing, condition, and upside are aligned. Read Less
Courtesy of Compass 310-230-5478
Listing Snapshot
Days Online
92
Last Updated
Property Type
Other
Beds
8
Square Ft.
7,680
Lot Size
0.18 Acres
Year Built
1925
MLS Number
26667235
30 Days Snapshot Of 90004
$3.22M
+65%
(avg) sold price
3
-70%
homes sold
62
-48%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
"Other"
Building
7,680 sq ft, Built in 1925, Levels: "Two Level", "Attached", "Spanish"
Cooling
"Other"
Disclosures
"As Is"
Garage
2 total garage spaces, "Garage - 2 Car", "Side By Side"
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