506 S Kern Avenue, Los Angeles, California 90022, Los Angeles, 90022 - 0 bed, 0 bath
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506 S Kern Avenue
Los Angeles, California 90022
ACTIVE UNDER CONTRACT
CONDITION: FAIR
0Beds
0Baths
2,770Sq Ft
6,400Lot Size
Property Price
LIST PRICE$1,125,000
EST. MARKET VALUE
$1,036,732
8% AboveMARKET VALUE
SUMMARY
This High-Potential Investment Opportunity is a 4-unit multifamily asset listed at $1,195,000. While the list price exceeds the estimated market value, the property offers a projected 7.23% Cap Rate and 9.88 GRM, providing strong cash flow potential. Delivered fully vacant, this Condition Rating 4 asset allows for immediate market-rate leasing. Its strategic location near the USC Keck School of Medicine ensures consistent demand. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to maximize rental income while occupying a unit.
Estimated Market Value
$1,036,732
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 506 S Kern Avenue Subject 0 bd · 0 ba · 2,770 sqft · $374 | $1,125,000* List Price | 0 | 0 | 2,770 | $374 | - |
A 5111 Boswell Sold 0 bd · 0 ba · 2,553 sqft · $390 · 0.9 mi | $995,000 | 0 | 0 | 2,553 | $390 | 0.9 mi |
B 5111 Boswell Sold 6 bd · 4 ba · 2,553 sqft · $390 · 0.9 mi | $995,000 | 6 | 4 | 2,553 | $390 | 0.9 mi |
C 538 S Fetterly Avenue Sold 0 bd · 0 ba · 2,412 sqft · $338 · 0.1 mi | $815,000 | 0 | 0 | 2,412 | $338 | 0.1 mi |
D 5354 Louis Sold 3 bd · 3 ba · 1,831 sqft · $441 · 0.8 mi | $807,000 | 3 | 3 | 1,831 | $441 | 0.8 mi |
E 5240 Via San Delarro Active 0 bd · 0 ba · 2,769 sqft · $433 · 0.7 mi | $1,200,000 List Price | 0 | 0 | 2,769 | $433 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1962, the property has received recent cosmetic updates including new laminate flooring and fresh paint. However, the kitchen and bathrooms remain dated with older scalloped cabinetry and tile countertops. The presence of older wall heaters suggests original or aged systems. While functional and move-in ready for tenants, the core finishes are over 20 years old.
PROSSTRENGTHS & OPPORTUNITIES
- Fully Vacant Delivery
The property is delivered 100% vacant, allowing an investor to immediately lease all units at current market rates without the legal complexities or costs of tenant relocation.
- High Yield Potential
With a projected 7.23% Cap Rate and 9.88 GRM, this asset offers exceptional cash flow potential and a superior return on investment compared to typical Los Angeles multifamily averages.
- Strategic Location
Proximity to major employment and educational hubs like the USC Keck School of Medicine and East LA Civic Center ensures a consistent and high-quality tenant pool.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
Built in 1962, the property may require more frequent maintenance or capital improvements to major systems compared to newer construction.
- Limited Parking Ratio
The 1:1 parking-to-unit ratio may be a constraint for tenants with multiple vehicles, potentially limiting the property's appeal in a car-dependent metropolitan area.
About 506 S Kern Avenue
FULLY VACANT 4PLEX IN EAST LA 506 S Kern is a Fully Vacant 4 Unit Property in one of the fastest growing neighborhoods in Los Angeles. The property consists an ideal unit mix of (3) 2-Bed/1-Bath and (1) 1-Bed/1-Bath units. The property has spacious floorplans and has been upgraded with new floors, paint and kitchens, ensuring ease of management for future tenants. This tenant ready asset comes fully parked with 4 Tandem spots so each unit gets 2 spaces, ensuring maximum potential rent. Once leased, the property will operate at a 7.75% cap rate, making this a one of a kind investment opportunity in East LA. Whether you're an owner/user or an investor, this asset is primed for strong cash flow from day one, in a neighborhood that is hard to find something of this quality. Situated in the heart of East LA, a submarket that is in close proximity to major employment such as USC Keck Medical, East LA Civic Center, Cal State LA as well as neighboring restaurants, including Sofreh, Al & Beas, and others.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1962
- Lot Size
- 6,400 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.5 |
| Baths | 0.0 | 2.9 |
| Square foot | 2,770 | 2,090.331 |
| Lot Size | 6,400 | 5,852.908 |
| Price | $1.12M | $830.9K |
| Price per sq ft | $406 | $394 |
| Built year | 1962 | 1928 |
| HOA | $0 | $0 |
| Days on market | 111 | 87 |
Pricing History
Listed for Sale
Sep 10, 2026
$1,125,000
$1,145,000
-2% Price Drop
Initial Listing
Price Change
Aug 19, 2026
$1,145,000
$1,195,000
-4% Price Drop
Initial Listing
Price Change
Jul 21, 2026
$1,195,000
Initial Listing
Sold
Nov 3, 2025
$820,000
Public Record