506 S Kern Avenue, Los Angeles, California 90022, Los Angeles, 90022 - 0 bed, 0 bath
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Los Angeles, California 90022
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.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 506 S Kern Avenue Subject | $1,195,000* List Price | 0 | 0 | 2,770 | $378 | - |
A 731 Belden Avenue Active | $1,099,000 List Price | 0 | 0 | 2,452 | $448 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
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.
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.
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.
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.
Built in 1962, the property may require more frequent maintenance or capital improvements to major systems compared to newer construction.
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.
506 S Kern Ave presents a rare opportunity to acquire a FULLY VACANT 4-unit multifamily asset in one of Los Angeles' fastest- growing neighborhoods. Upon stabilization, the property is projected to achieve an attractive 7.23% Cap Rate and 9.88 GRM, offering investors strong in-place cash flow potential. Situated on a spacious 6,000+ square foot lot, the property includes four on-site parking spaces, further enhancing its long-term value and tenant appeal. All four units will be delivered fully vacant and move-in ready, allowing a new owner to lease at market rents immediately without the challenges of tenant relocation. Once fully leased, the property is projected to generate over $10,000 in scheduled monthly rental income. Whether for an investor seeking strong cash flow or an owner- user looking to occupy a unit while maximizing rental income from the remaining units, 506 S Kern Ave offers exceptional flexibility and upside. Ideally located in a rapidly appreciating submarket, the property is within close proximity to major employment and educational centers, including the USC Keck School of Medicine and the East Los Angeles Civic Center, as well as a growing collection of popular restaurants, cafés, and neighborhood amenities, including Sofreh.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 5.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 2,770 | 2,250 |
| Lot Size | 6,400 | 5,864 |
| Price | $1.20M | $826.7K |
| Price per sq ft | $431 | $395 |
| Built year | 1962 | 1925 |
| HOA | $0 | $0 |
| Days on market | 3 | 83 |
Jul 21, 2026
$1,195,000
Initial Listing
Nov 3, 2025
$820,000
Public Record