101 N Kenmore Ave is an 8-unit multifamily property located in Melrose Hill, positioned between the 6th St corridor, Koreatown, and Larchmont Village. The property is priced at $195,000 per unit and $203 per SF, with current rents operating at a 5.99% CAP rate and 9.01 GRM.
This part of Central LA continues to lease well because tenants have access to several active neighborhood pockets from one location. Residents are close to Chapman Market and the 6th St corridor, the Wilshire Blvd spine of Koreatown, and the restaurants, retail, and daily services around Larchmont Village. That kind of access gives the property more than one source of renter demand.
Originally built in 1925, 101 N Kenmore Ave has the kind of Spanish-style character that still matters in Melrose Hill. The stucco exterior, decorative parapet lines, and centered entry give the building a clear street presence without feeling overdone.
The gated front courtyard adds separation from the street and gives the property a more residential feel. For tenants who want Central LA access but do not want to live in a larger, more anonymous building, that balance still carries weight.
The building’s scale is also easy to understand. At 8 units, the property is large enough to provide meaningful income, but still small enough to feel manageable from an ownership standpoint.
Recent capital improvements at 101 N Kenmore Ave include vertical plumbing upgrades in select units, sewer line replacement and connection work, copper plumbing upgrades, roof repair and waterproofing, and common area improvements. Additional work includes window screen replacements, exterior painting, and select system updates.
That work matters because it reduces some of the immediate building-system questions that often come with older properties. The next phase is more focused on interior improvements, rent alignment, and day-to-day management.
For owners, that is a practical distinction. A building with major systems already addressed is easier to evaluate than one where the plan depends on handling infrastructure and unit upgrades at the same time.
101 N Kenmore Ave is priced at $195,000 per unit and $203 per SF, with current rents reflecting a 5.99% CAP rate and 9.01 GRM.
Based on renovated units nearby, the property offers approx. 25% rental upside. At projected market rents, performance trends toward an estimated 9.15% CAP rate and 7.22 GRM.
The upside is tied to interiors and current rent positioning, not a complicated redevelopment plan. The path is straightforward: improve units as they turn, bring interiors closer to what tenants are already paying for nearby, and continue benefiting from a location that pulls from Melrose Hill, Koreatown, and Larchmont-adjacent demand.
101 N Kenmore Ave is located approx. 0.6 miles from the 6th St corridor around Chapman Market, approx. 1.5 miles from Wilshire and Western, and within close reach of Larchmont Village.
This is not a property dependent on one single street or one single neighborhood draw. Tenants can access 6th St, Koreatown, Melrose Hill, Larchmont Village, and nearby employment corridors from the same central base. For smaller Central LA buildings, that flexibility helps support steady renter demand across different tenant profiles.
101 N Kenmore Ave brings together Spanish-style character, a gated courtyard entry, current income, completed system work, and approx. 25% rental upside in a central Los Angeles location.
At $195,000 per unit and $203 per SF, the property gives buyers a practical price point in Melrose Hill with a clear improvement plan already in place. The appeal is simple: existing income, building character, completed system work, and room to improve rents in a location that continues to connect tenants to several established parts of Central LA.
8 Units
$195,000
7,680 SF
$203
7,711 SF
1925
5.99%
9.01
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