Kenmore Apartments | 205 N Kenmore Ave
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Kenmore Apartments 205 N Kenmore Ave
31 Unit Apartment Building $4,950,000 ($159,677/Unit) 6.37% Cap Rate Los Angeles, CA 90004
Investment Highlights
- Marcus & Millichap is pleased to present 205 N Kenmore Ave, a 31-unit multifamily investment opportunity in the Koreatown neighborhood
- At the asking price, the property is being offered at a 6.37% CAP rate at 9.35 GRM on current income with an additional 13% rental upside
- The building is separately metered for electricity and has an on-site laundry room with three washers and two dryers
- The property features a unit mix of 31 singles
- The property has professional landscaping and a secured, gated entrance with intercom access and security cameras; significant cap ex invested
Executive Summary
Marcus & Millichap is pleased to present 205 N Kenmore Ave, a 31-unit multifamily investment opportunity in the Koreatown neighborhood of Los Angeles located between Beverly Blvd & 1st St.
The property features a unit mix of 31 singles; renovated units include refinished floors, updated appliances, tile bathrooms, new cabinetry, and ceiling fans.
At the asking price, the property is being offered at a 6.37% CAP rate at 9.35 GRM on current income with an additional 13% rental upside achievable as units turn through continued interior renovations. The property has professional landscaping and a secured, gated entrance with intercom access and security cameras; significant cap ex has
been invested by ownership into the systems and common areas including new security camera system, solar thermal panels, storage tank, common area paint, and new intercom.
The building is separately metered for electricity and has an on-site laundry room with three washers and two dryers (lease with Dadson) High Walk Score of 87, the property is walking distance to the Metro Red & Purple Rail Lines, and Metro Local Lines along Beverly Blvd & 1st St. This neighborhood of Koreatown is ideally located with a short commute to Downtown Los Angeles, Hollywood, and Mid-City.
The property features a unit mix of 31 singles; renovated units include refinished floors, updated appliances, tile bathrooms, new cabinetry, and ceiling fans.
At the asking price, the property is being offered at a 6.37% CAP rate at 9.35 GRM on current income with an additional 13% rental upside achievable as units turn through continued interior renovations. The property has professional landscaping and a secured, gated entrance with intercom access and security cameras; significant cap ex has
been invested by ownership into the systems and common areas including new security camera system, solar thermal panels, storage tank, common area paint, and new intercom.
The building is separately metered for electricity and has an on-site laundry room with three washers and two dryers (lease with Dadson) High Walk Score of 87, the property is walking distance to the Metro Red & Purple Rail Lines, and Metro Local Lines along Beverly Blvd & 1st St. This neighborhood of Koreatown is ideally located with a short commute to Downtown Los Angeles, Hollywood, and Mid-City.
Financial Summary (Pro forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$595,200
|
$38.63
|
| Other Income |
$3,588
|
$0.23
|
| Vacancy Loss |
$29,939
|
$1.94
|
| Effective Gross Income |
$568,849
|
$36.92
|
| Taxes |
$59,400
|
$3.86
|
| Operating Expenses |
$130,887
|
$8.49
|
| Total Expenses |
$190,287
|
$12.35
|
| Net Operating Income |
$378,562
|
$24.57
|
Financial Summary (Pro forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $595,200 |
| Annual Per SF | $38.63 |
| Other Income | |
|---|---|
| Annual | $3,588 |
| Annual Per SF | $0.23 |
| Vacancy Loss | |
|---|---|
| Annual | $29,939 |
| Annual Per SF | $1.94 |
| Effective Gross Income | |
|---|---|
| Annual | $568,849 |
| Annual Per SF | $36.92 |
| Taxes | |
|---|---|
| Annual | $59,400 |
| Annual Per SF | $3.86 |
| Operating Expenses | |
|---|---|
| Annual | $130,887 |
| Annual Per SF | $8.49 |
| Total Expenses | |
|---|---|
| Annual | $190,287 |
| Annual Per SF | $12.35 |
| Net Operating Income | |
|---|---|
| Annual | $378,562 |
| Annual Per SF | $24.57 |
Property Facts
| Price | $4,950,000 | Apartment Style | Low Rise |
| Price Per Unit | $159,677 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.37% | Building Size | 15,408 SF |
| Gross Rent Multiplier | 9.35 | No. Stories | 3 |
| No. Units | 31 | Year Built | 1925 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $4,950,000 |
| Price Per Unit | $159,677 |
| Sale Type | Investment |
| Cap Rate | 6.37% |
| Gross Rent Multiplier | 9.35 |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 15,408 SF |
| No. Stories | 3 |
| Year Built | 1925 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 31 | - | 450 |
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Walk Score ®
Very Walkable (87)
Transit Score ®
Excellent Transit (71)
PROPERTY TAXES
| Parcel Number | 5518-017-026 | Total Assessment | $5,546,912 (2024) |
| Land Assessment | $3,868,617 (2024) | Annual Taxes | $59,400 ($3.86/SF) |
| Improvements Assessment | $1,678,295 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
5518-017-026
Land Assessment
$3,868,617 (2024)
Improvements Assessment
$1,678,295 (2024)
Total Assessment
$5,546,912 (2024)
Annual Taxes
$59,400 ($3.86/SF)
Tax Year
2025
zoning
| Zoning Code | R3, Los Angeles |
| R3, Los Angeles |
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Kenmore Apartments | 205 N Kenmore Ave
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