Exclusive Listings

12-Unit prime value-add deal located near to Koreatown, High CAP rate & Cash-on-Cash Returns!

Address:
210 N Kenmore
Los Angeles, California 90004
Price:
$3,200,000
Status:
Available
Type:
Apartment
# Units:
12
Year Built:
1924
Building Size:
6,792
Lot Size:
7,125
CAP Rate:
4.72%
GRM:
15.09x
Price/Unit:
$266,700
Price/SqFt:

Executive Summary

Growth Investment Group is proud to present 210 N Kenmore, a very well-maintained 12-unit apartment at the heart of a culturally vibrant neighborhood of Oakwood, East Hollywood. This HIGH CAP Rate and value-add investment offering provides investors an excellent opportunity to buy with a low down payment and high Cash-on-cash return. The deal offers a current CAP Rate of close to 5% and an estimated Proforma CAP Rate of close to 6%. It is centrally located in the highly desirable opportunity zone, just minutes away from Larchmont Village, Paramount Studios, Los Angeles City College & MacArthur Park.

Built-in 1924 this building consists of 12 exceptional units totaling 6,792 SF of living area on a sizeable 7,125 SF lot. The property is an easily maintained two-story building, with a simple unit mix of 12-Studios. Each unit is spacious (average size is ±450sf-±500sf – buyer to verify), functional, and bright with hardwood flooring, large full kitchens & bathroom with closet space. These units also include wall heating & wall A/C. Each unit is separately metered for electrical.

Majority of rents are close to market price, making it an exceptional opportunity for an investor looking for a high cash flowing property in a strong submarket. 210 Kenmore is a very well-maintained building, tenants pay for trash & electrical while the landlord pays for Gas & Water. The landlord is also the owner of the washer & dryer in the laundry room where the property earns additional income. 

Can be purchased with 515 N Mariposa for a total of 20-Units at a 5.13% CAP Rate.



Investment Highlights

  • 12-Unit Prime Value-Add Opportunity
  • Priced to sell! HIGH CAP RATE 4.72% & 15.09 GRM
  • Proforma Cap Rate 5.72% & Market 13.07 GRM with a total of 21% Upside
  • Low down payment of ±35% and High Cash-on-cash return of ±5.85%!
  • Opportunity Zone (OZ) investment!
  • Steady and consistent tenants who have paid rent through the pandemic
  • Strong submarket with high market rents and demand
  • Low Maintenance Property with owner covering Water & Gas only
  • Tenants pay for Trash & Electrical  

Property Highlights

  • Perfectly adjacent to Koreatown, East Hollywood, Larchmont Village, Westlake-Rampart and Echo Park.
  • Strong cash flowing property in one of the strongest submarkets in Los Angeles
  • In perfect adjacency to many shopping centers & entertainments while being surrounded by many strong employers & major retailers
  • Major Employers: Netflix, Paramount Studios, Sunset Gower, LACMA, Los Angeles City College, American Career College, Kaiser Sunset & Los Angeles Children Hospital.
  • Major Retailers: Target, Ralphs, Vons, Starbucks, McDonalds, California Donuts, Rite Aid and many more.

Marketing Files


Due Diligence


Broker Contact

Han Widjaja-Chen
Direct: 626.594.4900
han.chen@growthinvestmentgroup.com

Marc Schwartz
Direct: 213.362.8500
marc.schwartz@growthinvestmentgroup.com

Abel Benitez
Direct: 626.898.9740
abel@growthinvestmentgroup.com

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Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
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