Est. cap rate

3.7%

Assumed rent, all units

$9,800/mo

Units

4

Price per unit

$398,750

Est. annual NOI

$58,800

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Quadruplex

Bedrooms

4

Building size

5,276 sqft

Lot size

9,602 sqft

Year built

1922

Stories

2

Garage spaces

0

Pool

None

Status

Active

Days on market

3

MLS #

247270197

About this property

Rare opportunity to acquire a large fourplex with substantial rental upside in a highly central Los Angeles location with potential Development Opportunity. The property consists of four spacious 2-bedroom, 1-bathroom units totaling approximately 5,276 square feet on a 9,602-square-foot lot. Two units have recently been extensively renovated and leased at market rents, while the remaining two units are approximately 90% below their potential market rents, creating significant future income upside. The property is currenlty operating at 5.1% CAP with proforma CAP rate of 7.4%. The renovated residences feature updated kitchens and bathrooms, new flooring, stainless steel appliances, in-unit laundry and bright, oversized living spaces while preserving the property's classic architectural details. Each unit averages approximately 1,300 square feet, providing unusually spacious floor plans for the area. The property further benefits from 8 garage parking spaces, separate gas and electric meters, and a large lot. An excellent opportunity for an investor seeking a combination of strong in-place income, proven market rents and substantial remaining value-add potential in one of Los Angeles' most centrally located rental markets. Development Opportunity: Situated on an approximately 9,602 SF LAR3-zoned lot, the property offers significant future redevelopment potential. Based on the underlying R3 density of one dwelling unit per 800 SF of lot area, the site may accommodate approximately 12 units before applicable density bonuses and housing incentives. The property may also benefit from additional density, FAR, height and parking incentives available through City and State affordable-housing programs.

Location

548 N Kenmore

Los Angeles, Los Angeles, CA, 90004