250 S Kenmore Ave, Los Angeles, CA 90004

Property Description

250 S Kenmore Ave is a 40-unit apartment building located in the heart of Koreatown, one of Los Angeles' most desirable and rapidly developing submarkets. Originally built in 1926, this well-maintained, four-story property has undergone significant unit renovations and offers additional value-add potential. The building features a strong unit mix of 34 studio units and 6 one-bedroom, one-bath units.250 S Kenmore provides investors with the chance to enter a high-demand rental market, with potential for further value through additional renovations. Twenty-eight of the forty units have been extensively renovated with high-end finishes which include new stainless-steel appliances, laminate and tile flooring, upgraded kitchens with new cabinets, stone countertops, and tile backsplashes, new fixtures, new paint, new based moldings, and energy efficient LED lighting. The property also offers secure access and on-site laundry facilities for tenant convenience.Beyond the units, the property has seen substantial upgrades, including a new roof installed in 2014, a fully renovated lobby with new paint, tile, and lighting, and refreshed common area hallways with new paint, refinished hardwood floors, and updated lighting fixtures. In 2017, current ownership installed a solar thermal system and a new boiler. Additionally, the property features drought-resistant landscaping, contributing to sustainability and water conservation efforts. While the property has undergone significant renovations, there remains an opportunity for investors to capitalize on the remaining rental upside through a comprehensive interior renovation program. 250 S Kenmore is ideally located in one of Los Angeles' most vibrant and sought-after neighborhoods. The property is a Walker's Paradise, with convenient access to a wide range of nearby amenities, including entertainment venues, restaurants, shopping, hotels, and nightlife. Positioned in an area with substantial economic growth, 250 S Kenmore presents a unique opportunity to acquire a well-maintained asset with strong potential for long-term appreciation and rental growth.