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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 1,560,000

Est. payment | -/mo

8 Beds

8 Baths

7,680 SqFt

Save

$ 1,560,000

Est. payment | -/mo

Save

8 Beds

8 Baths

7,680 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 7,680 sqft

Price per Sqft $203

MLS Listing ID 26667235

Bedrooms 8

HOA Y/N No

Year Built 1925

Lot Size 7,710 Sqft

Property Description

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 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.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning LAR3

Interior

Fireplace No

Laundry Common Area, Laundry Room

Exterior

Parking Features Door-Multi, Garage, Side By Side

Garage Spaces 2.0

Garage Description 2.0

Community Features Gated

Total Parking Spaces 5

Building

Faces East

Story 2

Entry Level Two

Architectural Style Spanish

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5518016024

Security Features Gated Community

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Max Berger Compass #02054048

NEARBY SCHOOL & BUSINESS

+1(619) 302-3010

matt@homecrave.com

San Diego, CA, 92124

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101 N Kenmore AVE Los Angeles, CA 90004