417 S Kenmore Avenue

Description

We are proud to present this significant price reduction for these 22-unit apartment building located at 417 South Kenmore Avenue, in the 90020 zip code of Koreatown one of the most up-and-coming rental pockets in the city and within walking distance to many of city's most popular restaurants and social centers such as Sweetgreens, Blue Bottle, HMart, Silverlake Ramen, 7-Eleven, and Quarters Korean Barbecue. The property comes equipped with many high-end energy efficient features such as LED lights, energy efficient A/C units, electric fireplaces, and rooftop solar panels for the water heaters, which help to significantly cut landlords utility costs. A new owner could also explore the possibility of utilizing those solar panels to aid with common area energy expenses or perhaps installing additional ones to do so. The property is 100% leased up and fully renovated. Despite that, there are a couple of different ways that a new owner could potentially add even more value. The largest value-add component that could be realized by the new owner would be by utilizing the new ADU program that was rolled out state-wide in January 2020. Through that program, the new owner has the ability to add up to six (6) additional units to the property depending on the decided upon parking layout, adding over $2 million in value.