
Los Angeles, California 90004
This four-unit Strong Value Opportunity is a Residential Income Asset listed at $2,100,000—positioned well below the $2,212,405 Fair Market Value by 5%. This valuation gap offers $112,405 in Instant Equity. With a Condition Rating of 5, the property features two fully renovated units and two unfinished units, providing significant upside through completion and RSO-compliant lease-up. The LAR3 Zoning and 7,140 SF Lot offer excellent potential for ADU development. This is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 144 S Kenmore Avenue Subject | $2,100,000* List Price | 11 | 8 | 4,660 | $475 | - |
A 148 S Normandie Avenue Active | $1,750,000 List Price | 0 | 0 | 3,559 | $492 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
While two units have been recently renovated to an excellent standard with modern kitchens, baths, and new electrical/plumbing, the property as a whole is in a partially completed state. Two units remain unfinished with exposed studs and insulation, and the exterior is currently boarded up. Per the criteria, the 1923 structure requires significant rehab to reach full occupancy and functional status.
The property is delivered without existing tenancies, providing a rare opportunity for the buyer to establish initial market-rate rents for all units despite being subject to the Los Angeles Rent Stabilization Ordinance.
With LAR3 zoning and a spacious 7,140 SF lot, the property offers multiple avenues for value creation, including the completion of unfinished units and the potential to add one or more ADUs.
Two units have already undergone extensive, permitted renovations—including updated plumbing, electrical, kitchens, and bathrooms—reducing the immediate capital expenditure and construction timeline for the new owner.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6969, other record lot size in square feet = 7142. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 11, other record bedroom count = 4.
The property was recently sold within the past year on 2025-10-10. The sold price is $2,400,000.00.
The property is sold in 'as-is' condition with two units remaining unfinished, requiring the buyer to navigate the costs, permitting, and management of active construction before the asset can be fully stabilized.
Excellent value-add opportunity in a prime Los Angeles location. 144 S Kenmore Ave is a four-unit residential income property offering approximately 4,660 SF of building area on an approximately 7,140 SF LAR3 lot, with substantial renovation already completed and potential for one or possibly more ADUs or other future development opportunities, subject to buyer investigation and City approval. The property is in a partially completed renovation condition, with two units fully renovated and two additional units remaining unfinished. The two completed units underwent extensive renovations, including new plumbing and electrical, kitchens, bathrooms, flooring, windows, recessed lighting, cabinetry and fixtures. Seller states the completed renovation work was performed with permits. The two unfinished units are currently configured for completion as 3-bedroom/3-bath units. The planned final configuration is approximately one 2-bedroom/2-bath unit and three 3-bedroom/3-bath units, subject to buyer verification of final legal bedroom/bathroom counts, plans and permits. The property is being offered without existing tenant leases, giving the next owner flexibility to evaluate the existing improvements, complete the remaining work according to their own plans and establish new tenancies upon lawful occupancy. The approximately 7,140 SF LAR3 lot, rear parking/garage area and overall site configuration may also offer potential for one or possibly more ADUs or other future development opportunities, subject to buyer investigation, zoning, permitting and City approval. Conveniently located near Koreatown, Larchmont Village, Virgil Village, shopping, dining, transit and major employment centers. A rare opportunity to acquire a fourplex with substantial improvements already completed, additional upside through completion and lease-up, and multiple avenues for future value creation. Please note: The property was built prior to 1978 and is subject to the Los Angeles Rent Stabilization Ordinance (RSO). Because the asset is being delivered without existing tenancies, incoming buyers may have an opportunity to establish initial lease rates. Given the partially completed renovation and unfinished units, the property is being sold in its current physical condition ("as-is, where-is") with no warranties or representations made by the seller, agent or broker regarding future rental values, municipal compliance timelines, or the cost to complete construction. Buyers are advised to conduct their own independent investigations—and consult with their own legal, architectural, and financial advisors—regarding all RSO guidelines, LAHD requirements, permitting, and potential return on investment.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 11.0 | 4.6 |
| Baths | 8.0 | 3.0 |
| Square foot | 4,660 | 2,187.451 |
| Lot Size | 6,969.6 | 5,841.385 |
| Price | $2.10M | $841.5K |
| Price per sq ft | $451 | $385 |
| Built year | 1923 | 1928 |
| HOA | $0 | $0 |
| Days on market | 11 | 85 |
Aug 29, 2026
$2,100,000
Initial Listing
Oct 10, 2025
$2,400,000
Public Record
Jun 10, 2024
$1,360,000
Public Record