BACK ON MARKET! POTENTIAL TO BUILD 2 ADU'S! 144 S Kenmore Ave is a 75% vacant fourplex in the trendy neighborhood of Koreatown/Mid-Wilshire (opportunity zone)- A MAJOR VALUE ADD PLAY!!! This architecturally impressive, 1920's gem is ready to undergo a renovation and get massive rents. All four units are ENORMOUS, feature gorgeous historical design elements, and would be perfect candidates for a cosmetic fix and flip (or hold and cash flow!). Additionally, the property is situated on a 7,141 square foot LAR3 lot, making for a potential ADU play in the rear of the lot. Whichever way you look at this deal, the upside is tremendous.
144 S Kenmore is made up of one 1,352 SF 2b/1b (delivered vacant), one 1,010 SF 2b/1b (delivered vacant), one 906 SF 1b/1b (delivered vacant), and one 1,392 SF 2b/1b that is currently leased for $1,424 (open to tenant buyout) and eligible for a rent increase now that Los Angeles rent increases are back as of February 2024.
The following improvements have been made in the recent years: a cool roof in 2015, new exterior painting in 2017, an earthquake retrofit in 2017, a sewer line replacement in 2018, two new water heaters in 2023, and various small electrical updates in 2023. Another great property feature is that all four units have their own laundry rooms. Additionally, there are four carport parking spots and two exterior parking spots on site.
It is rare to find a property in LA where countless tenant buyouts aren't needed- this is the opportunity you've been waiting for. Send in your offers before this is gone! Situated on a peaceful tree-lined street 6 minutes from trendy Virgil Village, 8 minutes from Larchmont Village and 5 minutes from the heart of Koreatown, this property is located in an area that is highly appealing to renters.
