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Jessica Panzica

jessica@jessicapanzica.com +1(714) 313-8193

$2,100,000

Est. payment - /mo

11 Beds

8 Baths

4,660 SqFt

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Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 4,660 sqft

Price per Sqft $450

MLS Listing ID NDP2608150

Bedrooms 11

Full Baths 4

Half Baths 4

HOA Y/N No

Year Built 1923

Lot Size 6,969 Sqft

Property Sub-Type Quadruplex

Property Description

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.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning LAR3

Rooms

Main Level Bedrooms 5

Interior

Cooling Central Air

Fireplaces Type None

Fireplace No

Laundry Laundry Closet

Exterior

Carport Spaces 3

Pool None

Community Features Curbs, Sidewalks

View Y/N Yes

View City Lights

Total Parking Spaces 5

Private Pool No

Building

Lot Description Back Yard, Front Yard, Near Public Transit

Story 2

Entry Level Two

Sewer Public Sewer

Level or Stories Two

Schools

School District Los Angeles Unified

Others

Senior Community No

Tax ID 5518020019

Acceptable Financing Cash, 1031 Exchange

Listing Terms Cash, 1031 Exchange

Special Listing Condition Standard

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Listed by John McConnin McConnin & Company Realty 858-367-0230, DRE #01445675

Nearby School & Business

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Jessica Panzica

+1(714) 313-8193

Agent License ID: 01854556

144 S Kenmore AVE Los Angeles, CA 90004

Jessica Panzica

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Nearby School & Business

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