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6.16% Cap Multi-Family Investment 1939 N Kenmore Ave 18 Unit Apartment Building $6,000,000 ($333,333/Unit) 6.16% Cap Rate Los Angeles, CA 90027
Investment Highlights
- Prime Los Feliz Neighborhood 18-Unit Apartment Building For Sale
- 2-Street Frontage: Kenmore Ave & Palmerston Pl
- Close to the Greek Theater and Griffith Observatory
- 100% Leased Investment: Actual $369,605 NOI | 6.16% Cap Rate
- Between Los Feliz Blvd and Franklin Ave Just West of Hillhurst Ave
Executive Summary
This exceptional 18-unit apartment community presents a rare investment opportunity in the highly desirable Los Feliz neighborhood of Los Angeles. Situated on an approximately 11,500-square-foot lot and encompassing 18,317 square feet of improvements, the property is 100% leased and generates an actual annual net operating income of $369,605, representing an attractive 6.16% cap rate. Zoned LAR2, the asset benefits from unique block-to-block frontage between Kenmore Avenue and Palmerston Place, providing excellent access and visibility. Ideally located between Los Feliz Boulevard and Franklin Avenue, just five blocks west of Vermont Avenue and eight blocks west of Hillhurst Avenue, the property is surrounded by some of Los Angeles’ most sought-after dining, retail, and entertainment destinations. Residents enjoy close proximity to Griffith Park, with the Greek Theatre and Griffith Observatory less than one mile away, making this a premier, stabilized investment in one of the city's most vibrant and enduring rental markets.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$596,568
|
$20.88
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$596,568
|
$20.88
|
| Taxes |
$75,000
|
$2.63
|
| Operating Expenses |
$151,963
|
$5.32
|
| Total Expenses |
$226,963
|
$7.95
|
| Net Operating Income |
$369,605
|
$12.94
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $596,568 |
| Annual Per SF | $20.88 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $596,568 |
| Annual Per SF | $20.88 |
| Taxes | |
|---|---|
| Annual | $75,000 |
| Annual Per SF | $2.63 |
| Operating Expenses | |
|---|---|
| Annual | $151,963 |
| Annual Per SF | $5.32 |
| Total Expenses | |
|---|---|
| Annual | $226,963 |
| Annual Per SF | $7.95 |
| Net Operating Income | |
|---|---|
| Annual | $369,605 |
| Annual Per SF | $12.94 |
Property Facts
| Price | $6,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $333,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.26 AC |
| Cap Rate | 6.16% | Building Size | 18,317 SF |
| No. Units | 18 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1929 |
| Zoning | LAR2 - Multiple Dwelling | ||
| Price | $6,000,000 |
| Price Per Unit | $333,333 |
| Sale Type | Investment |
| Cap Rate | 6.16% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 18,317 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1929 |
| Zoning | LAR2 - Multiple Dwelling |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5589-017-040 | Total Assessment | $378,991 |
| Land Assessment | $101,956 | Annual Taxes | $75,000 ($4.09/SF) |
| Improvements Assessment | $277,035 | Tax Year | 2025 |
Property Taxes
Parcel Number
5589-017-040
Land Assessment
$101,956
Improvements Assessment
$277,035
Total Assessment
$378,991
Annual Taxes
$75,000 ($4.09/SF)
Tax Year
2025
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6.16% Cap Multi-Family Investment | 1939 N Kenmore Ave
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