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30125786
30125787

1223 N Kenmore Ave, Los Angeles, CA 90029

DL
CA 01912487
Investment Real Estate Associates
Listed by Investment Real Estate Associates
$2,995,000
90 days on market
Updated 88 days ago
Opportunity zone

1223 N Kenmore Ave

Details
APN 5540-007-014
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,373
Units 4
Cap Rate 5.36%
NOI $160,532
Pro-Forma Cap Rate 5.97%
Pro-Forma NOI $178,691
Price per SqFt $557
Broker Co-Op Yes
Year Built 2017
Buildings 2
Stories 3
Lot Size (SqFt) 6,499
Parking Spaces 8 spaces
Parking Per SqFt 1.49

Multifamily | 4 Units | $748,750/unit

Marketing description

1223 N Kenmore Ave is a newer construction fourplex located in the highly desirable East Hollywood submarket of Los Angeles. Built in 2017, the property consists of approximately 5,373 square feet and offers a highly functional mix of large townhome-style residences designed to meet modern tenant preferences. Importantly, the property is not subject to local rent control, providing investors with valuable operational flexibility and long-term income growth potential.

The unit composition includes two 3-bedroom / 2.5-bath units, one 3-bedroom / 3-bath unit, and one 4-bedroom / 3-bath unit, delivering an attractive blend of layouts that appeal to a broad tenant base. Each unit features a multi-level design with no units above or below, enhancing privacy and contributing to strong rental demand.

Interior finishes reflect contemporary construction standards, including abundant natural light, spacious bedrooms, hardwood flooring throughout, central air-conditioning, stainless-steel appliance packages, and in-unit washer and dryers. The property’s newer vintage reduces near-term capital expenditure exposure and supports long-term operational efficiency.

The asset benefits from a practical and convenient parking configuration, including direct-entry garages and supplemental driveway parking, providing ease of use for residents while remaining consistent with surrounding market expectations.

Situated on a quiet residential street, the property is walking distance to the Vermont / Santa Monica Metro station and offers convenient access to major lifestyle, employment, and entertainment corridors, including Silver Lake, Echo Park, Larchmont Village, Koreatown, and Hollywood. This central location underpins the property’s strong tenant appeal and durable investment fundamentals.

The combination of newer construction, larger unit layouts, and non-rent-controlled status positions 1223 N Kenmore Ave as a compelling investment opportunity offering stable income characteristics and long-term appreciation potential.

Investment highlights

Built in 2017 - Not subject to rent control

High Demand Unit Mix - 3-Bed/2.5-Bath, 3-Bed/3-Bath, 4-Bed/3-Bath

3-Story Townhome Style with Modern Features and Finishes

Prime East Hollywood Location - Within Walking Distance of the Vermont/Santa Monica Metro Station

Walk Score of 91

Listing Contacts

DL
CA 01912487
Investment Real Estate Associates
Listed by Investment Real Estate Associates

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$160,532.00
$13,377.67/mo

Valuation Metrics

0
DSCR
5.36%
Cap Rate
5.36%
ROI

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