101 N Kenmore Ave is an 8-unit multifamily property located in Melrose Hill, positioned between the 6th Street corridor, Koreatown, and Larchmont Village.

The property sits approximately 0.6 miles from Chapman Market and about 1.5 miles from Wilshire and Western, placing tenants within reach of multiple established retail and dining corridors. This part of Central Los Angeles continues to see consistent rental demand driven by its proximity to Koreatown, Mid-City, and surrounding employment centers.

Built in 1925, 101 N Kenmore Ave stands out with a Spanish-style exterior that differs from more typical product in the area. The façade, parapet detailing, and gated courtyard entry give the property a distinct street presence that continues to attract renters in this submarket.

A Central Location Between Established Corridors

101 N Kenmore Ave benefits from access to several active corridors rather than relying on a single pocket. The 6th Street corridor near Chapman Market, Wilshire Boulevard through Koreatown, and Larchmont Village all sit within a short drive.

This overlap creates flexibility for tenants. Dining, retail, and nightlife are not concentrated in one location, and that tends to support steady leasing across different renter profiles. The surrounding area is already built out, with a mix of neighborhood retail, restaurants, and service uses that continue to anchor demand.

A Smaller Asset With Character and Manageable Scale

At 8 units, the property provides a manageable unit count for ownership. The layout is straightforward, with a central courtyard entry and efficient access to each unit. Amenities include on-site parking and a community laundry room. The building appears well maintained and supports day-to-day operations without unnecessary complexity.

The Spanish-style architecture adds a level of character that is increasingly limited in this part of Los Angeles, particularly at this price point.

Financials Aligned With the Market

101 N Kenmore Ave is offered at $1,700,000, equating to $212,500 per unit and $221 per SF. The property operates at a 6.44% CAP and 9.82 GRM on current rents. Based on rental comparables in the surrounding submarket, the property offers approximately 25% rental upside, with projected stabilization at an 8.95% CAP and 7.84 GRM.

Pricing aligns with recent multifamily sales throughout Melrose Hill and nearby Larchmont-adjacent neighborhoods, placing the asset in line with current market activity while leaving room for value creation.

Additional Upside Through Garage and ADU Potential

The property includes a detached garage at the rear of the lot, which presents potential for an ADU, subject to buyer verification. This introduces an additional layer of upside beyond interior unit improvements. Combined with the existing rental upside, the path to improved performance remains straightforward and tied to typical operational execution.

Conclusion

101 N Kenmore Ave offers 8 units in a central Melrose Hill location with access to Koreatown, the 6th Street corridor, and Larchmont Village. The combination of in-place income, approximately 25% rental upside, and potential ADU opportunity positions the property as a clear value-add acquisition in a submarket where demand is driven by location and accessibility.

For buyers evaluating Central Los Angeles multifamily opportunities near Koreatown and Larchmont, our current listings can be viewed here.