101 N Kenmore Ave is an 8-unit Melrose Hill multifamily asset 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 and 9.01 GRM. The revised basis places the asset in line with recent Melrose Hill sales while offering stronger in-place income and approx. 25% rental upside supported by renovated units nearby.

Originally constructed in 1925, 101 N Kenmore Ave combines Spanish-style architecture, a gated front courtyard, completed system upgrades, and a central location that continues to appeal to renters seeking access to multiple established Central LA corridors.

Pricing That Now Fits the Melrose Hill Conversation

At $195,000 per unit and $203 per SF, 101 N Kenmore Ave now sits at a basis that is easier to underwrite against recent sales in the immediate area. In today’s market, that matters. Buyers are being more selective, and pricing has to hold up against actual trades, not older expectations. The current metrics give buyers a clear starting point: a 5.99% CAP and 9.01 GRM on in-place rents, with room to improve income as units turn over.

Current Income With a Clear 25% Rent Growth Path

Based on renovated rental comps in the surrounding submarket, 101 N Kenmore Ave offers approx. 25% rental upside. At projected market rents, the property is expected to stabilize at a 9.15% CAP and 7.22 GRM.

The path to improved performance is tied to standard execution: interior improvements, rent alignment over time, and continued focus on the larger Central LA renter base that supports Melrose Hill, Koreatown, and Larchmont-adjacent properties.

Spanish Character and Courtyard Entry That Still Stand Out

Built in 1925, 101 N Kenmore Ave has the kind of character that continues to matter in Melrose Hill. The Spanish-style exterior, stucco facade, decorative parapet lines, and centered entry create a distinct street presence compared to more ordinary apartment stock in the area. The gated front courtyard adds separation from the street and gives the building a more residential feel. That combination of scale, privacy, and character remains appealing to tenants who want Central LA access without living in a larger, more anonymous building.

System Work Already Handled Before the Next Turnover Phase

Major building systems have already been addressed at 101 N Kenmore Ave. Recent capital improvements 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. This matters because it reduces immediate building system concerns and allows future ownership to focus more directly on interior turnover, rent growth, and day-to-day operations.

A Central Position Between 6th St, Koreatown, and Larchmont Village

101 N Kenmore Ave is located approx. 0.6 miles from the 6th St corridor surrounding Chapman Market, approx. 1.5 miles from Wilshire and Western, and within close reach of Larchmont Village. The property also sits near the Wilshire Blvd spine of Koreatown, placing residents near multiple dining, retail, and employment pockets.

This is not a location dependent on one single corridor. Tenants can access Melrose Hill, Koreatown, the 6th St corridor, and Larchmont Village from the same central base. That flexibility continues to support steady rental demand across different tenant profiles.

Conclusion

101 N Kenmore Ave offers an 8-unit Melrose Hill asset where pricing, current income, building character, system improvements, and upside are all clearly defined. At $195,000 per unit and $203 per SF, with a 5.99% CAP and 9.01 GRM on current rents, the property gives buyers a practical entry point into a central Los Angeles rental pocket with approx. 25% rental upside.

For buyers looking at Melrose Hill multifamily with existing income, completed system work, Spanish-style character, and a location positioned between the 6th St corridor, Koreatown, and Larchmont Village, 101 N Kenmore Ave presents a grounded value-add opportunity at a revised basis that now fits the current market.