27
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$1,595,000
Est. payment /mo
8 Beds
4 Baths
9,602 Sqft Lot
New
548 N Kenmore Los Angeles, CA 90004
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID BB26204733
Bedrooms 8
Lot Size 9,602 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Rare opportunity to acquire a large fourplex with substantial rental upside in a highly central Los Angeles location with potential Development Opportunity. The property consists of four spacious 2-bedroom, 1-bathroom units totaling approximately 5,276 square feet on a 9,602-square-foot lot. Two units have recently been extensively renovated and leased at market rents, while the remaining two units are approximately 75% below their potential market rents, creating significant future income upside. The property is currenlty operating at 5.1% CAP with proforma CAP rate of 7.4%. The renovated residences feature updated kitchens and bathrooms, new flooring, stainless steel appliances, in-unit laundry and bright, oversized living spaces while preserving the property's classic architectural details. Each unit averages approximately 1,300 square feet, providing unusually spacious floor plans for the area. The property further benefits from 8 garage parking spaces, separate gas and electric meters, and a large lot. An excellent opportunity for an investor seeking a combination of strong in-place income, proven market rents and substantial remaining value-add potential in one of Los Angeles' most centrally located rental markets. Development Opportunity: Situated on an approximately 9,602 SF LAR3-zoned lot, the property offers significant future redevelopment potential. Based on the underlying R3 density of one dwelling unit per 800 SF of lot area, the site may accommodate approximately 12 units before applicable density bonuses and housing incentives. The property may also benefit
Location
State CA
County Los Angeles
Zoning Assessor
Direction off of melrose
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5520008018
Acceptable Financing Conventional
Listing Terms Conventional
Listed by David Nalbandyan, DRE#01869296 LA Premier Realty
NEARBY SCHOOL & BUSINESS
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