144 S Kenmore Avenue, Los Angeles, CA 90004 (MLS # NDP2608150)

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View Virtual Tour PRICE $2,100,000 BEDS 11 BATHS 6 HOME SIZE 4,660 sqft LOT SIZE 6,970 sqft Request More Info Schedule a Showing

Excellent value-add opportunity in a prime Los Angeles location. 144 S Kenmore Ave is a four-unit residential income property offering approximately 4,660 SF of building area on an approximately 7,140 SF LAR3 lot, with substantial renovation already completed and potential for one or possibly more ADUs or other future development opportunities, subject to buyer investigation and City approval. The property is in a partially completed renovation condition, with two units fully renovated and two additional units remaining unfinished. The two completed units underwent extensive renovations, including new plumbing and electrical, kitchens, bathrooms, flooring, windows, recessed lighting, cabinetry and fixtures. Seller states the completed renovation work was performed with permits. The two unfinished units are currently configured for completion as 3-bedroom/3-bath units. The planned final configuration is approximately one 2-bedroom/2-bath unit and three 3-bedroom/3-bath units, subject to buyer verification of final legal bedroom/bathroom counts, plans and permits. The property is being offered without existing tenant leases, giving the next owner flexibility to evaluate the existing improvements, complete the remaining work according to their own plans and establish new tenancies upon lawful occupancy. The approximately 7,140 SF LAR3 lot, rear parking/garage area and overall site configuration may also offer potential for one or possibly more ADUs or other future development opportunities, subject to buyer investigation, zoning, permitting and City approval. Conveniently located near Koreatown, Larchmont Village, Virgil Village, shopping, dining, transit and major employment centers. A rare opportunity to acquire a fourplex with substantial improvements already completed, additional upside through completion and lease-up, and multiple avenues for future value creation. Please note: The property was built prior to 1978 and is subject to the Los Angeles Rent Stabilization Ordinance (RSO). Because the asset is being delivered without existing tenancies, incoming buyers may have an opportunity to establish initial lease rates. Given the partially completed renovation and unfinished units, the property is being sold in its current physical condition ("as-is, where-is") with no warranties or representations made by the seller, agent or broker regarding future rental values, municipal compliance timelines, or the cost to complete construction. Buyers are advised to conduct their own independent investigations"”and consult with their own legal, architectural, and financial advisors"”regarding all RSO guidelines, LAHD requirements, permitting, and potential return on investment.