Description

We are proud to exclusively present the 1614 N Kenmore Avenue Apartments near the Thai Town, Little Armenia and Los Feliz neighborhoods of Los Angeles. Located walking distance from the Vermont/Sunset Metro Station, Barnsdall Art Park and Kaiser Permanente Medical Center. Northwest of the Hollywood (101) Freeway, South of Hollywood and North of Sunset Boulevard, this property offers an investor the unique opportunity to own one of the most "in-demand" pieces of real estate in the most attractive rental markets in Los Angeles. 1614 N Kenmore Avenue is a 12-unit multifamily property with a total building size of over 7,600 square feet. The well-maintained property, separately metered for electric and gas, is serviced by a central water heater and offers a unit mix of 4 studios and 8 one-bedroom/one-bathroom units. Owned by one family for over 30 years, it is in great condition! While the current ownership has diligently maintained the property, it has not been aggressive in increasing rents, allowing for a quoted pro-forma of almost 100% increase from current rental rates, allowing a new owner the opportunity to consistently increase rents for the near future and/or fully renovate the units to bring the property in line with nearby rental rates. *Note that there are currently 3 vacancies for a new owner to upgrade or rent themselves immediately! Given the property's solid real estate fundamentals, including its desirable location, unit mix and well-maintained building, 1614 N Kenmore Avenue is an ideal investment for a value-add investor seeking growth, stability, and a hedge against inflation.