157 N Kenmore Avenue

    Los Angeles (City), CA 90004
    • $1,375,000
    • STATUS: Active
    • ON SITE: 82 days
    • ID#: 18379162
    UPDATED: 50 min ago
    $1,375,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,569
      SQFT
    • $247
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1924
    County:

    School Ratings & Info

    Description

    Nestled in the Wilshire Center - Koreatown neighborhood, 157 N. Kenmore Avenue is a true value-add opportunity with tremendous upside. The subject property can be acquired as an existing four-unit building with an attractive 30-year fixed loan for a patient investor looking to occupy one unit or increase rents. Current Rents are approximately 50% below market rent. The property is conveniently situated in a highly sought-after R3-1 zoning area that falls in the Transit Oriented Communities Tier 3 Eligibility. A savvy developer could potentially build 16-units with 4-units as low income. The Floor Area Ratio (FAR) is 4.5 to 1 and can be built up to 5 stories high with a 67-foot height restriction (Buyer's to verify with the City of Los Angeles).

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-15T09:28:25.883. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/86870881

    157 N Kenmore Avenue Los Angeles (City), CA 90004

    • Price: $1,375,000
    • Status: Active
    • Updated: 50 min ago
    • ID#: 18379162
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    5,569
    SQFT
    $247
    $/SQFT
    1924
    Built
    Neighborhood:
    C17 - Mid-Wilshire
    County:
    Los Angeles
    Area:
    C17 - Mid-Wilshire
    Property Description
    Nestled in the Wilshire Center - Koreatown neighborhood, 157 N. Kenmore Avenue is a true value-add opportunity with tremendous upside. The subject property can be acquired as an existing four-unit building with an attractive 30-year fixed loan for a patient investor looking to occupy one unit or increase rents. Current Rents are approximately 50% below market rent. The property is conveniently situated in a highly sought-after R3-1 zoning area that falls in the Transit Oriented Communities Tier 3 Eligibility. A savvy developer could potentially build 16-units with 4-units as low income. The Floor Area Ratio (FAR) is 4.5 to 1 and can be built up to 5 stories high with a 67-foot height restriction (Buyer's to verify with the City of Los Angeles).
    Exterior Features

    Lot Size Units Square Feet Parking Features Carport Detached Parking YN Yes

    Interior Features

    Cooling None Cooling YN No Laundry Features See Remarks

    Property Features

    Gross Multiplier 0.00 Gross Operating Income 58200.00 Improvements Amount 275400 Insurance Expense 2000.00 Land Lease YN No Land Value 647700 Laundry YN Yes Net Operating Income 33667.00 Other Expense 3600.00 Special Listing Conditions Standard Total Expenses 22787.00 Zoning Lar3

    Listing provided courtesy of Daniel Hirth of Keller Williams-Santa Monica.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-15T09:28:25.883. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Fred Sed Realty - Keller Williams
    4010 Barranca Pkwy Suite 100
    Irvine CA, 92604