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Ernie Caponera

ernie@newport-properties.com +1(714) 606-0926

$1,500,000

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 $321

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

Now priced to reflect a short sale opportunity. Sale subject to lender approval. 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. Two units have been fully renovated, and two additional units remain 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 an opportunity to evaluate the existing improvements and complete the remaining work, subject to applicable permitting and occupancy requirements. The rear parking/garage area and overall site configuration may also offer potential for 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. An opportunity to acquire a fourplex with substantial improvements already completed and additional upside through completion and lawful lease-up. The property is subject to the Los Angeles Rent Stabilization Ordinance and is offered as-is in its current, partially renovated condition. Buyers should independently verify permits, lawful occupancy, applicable rental restrictions, development potential and costs to complete the remaining work.

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 Short Sale

Virtual Tour https://www.propertypanorama.com/instaview/crmls/NDP2608150

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

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California 92625, USA

144 S Kenmore AVE Los Angeles, CA 90004