140 N Kenmore Ave · Los Angeles, CA 90004

$1,195,000

8 bd · 4.0 ba · 5,544 sqft · MultiFamily public records · 75 Days on market

Built 1924 7,127 sqft lot $216/sqft · 20% below area Est $1487k · 20% under

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.7/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Attention investors - priced to sell and packed with upside potential. This prime 5,544 SF fourplex is ideally located in the highly desirable Koreatown / Hancock Park adjacent neighborhood, one of Los Angeles' most dynamic rental markets. With stable in-place income, strong tenant demand, and significant opportunity for future rental growth and value enhancement, this property presents an outstanding chance to capitalize on long-term appreciation potential. The two-story Spanish Colonial Revival style property features four spacious 2-bedroom, 1-bathroom units, with functional floorplans including formal living room, family room, large kitchen, inside laundry area. Located just minutes from Downtown Los Angeles and near Wilshire Boulevard, placing it within a vibrant, high-density corridor known for its diverse dining, shopping, and everyday conveniences. Residents benefit from convenient access to Metro lines and major transit routes, enhancing connectivity and overall desirability. The area continues to experience strong tenant demand, supporting consistent occupancy and long-term rental growth. With a clear value-add component, investors have the opportunity to increase rents to market levels as units turn over, significantly boosting cash flow, overall returns and strong future appreciation. Sold as-is, where-is, with tenants in place. Drive by only, do not disturb tenants.

Key facts

• 7,127 sq ft lot
• Garage
• Built 1924

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $462/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.16M (2.9% below list).
• Recommended offer: $1.12M (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.1% in Los Angeles — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#273 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B; Watch: health & safety C-, crime F, cost of living F.
• Los Angeles Unified (urban): math 29% / reading 54% proficiency, ranked #223 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Frank Del Olmo Elementary (509 students, 98% FRL); Virgil Middle (1,017 students, 97% FRL); Ramon C. Cortines School of Visual And Performing Arts (math 18% / reading 62%, grade F, #514 of 1,170 statewide, top 44%, 1,171 students, 69% FRL) — zoned schools average 88% FRL vs 67% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.7%/yr); 142 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $11,602/mo this rent would consume 215% of the median local household income ($65k/yr) (locally 6512% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $36k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($1.12M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 30y ago; this cycle's ask has dropped $255k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $325k; list at $1.20M implies a 268% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,123,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 8.15%
• Cash-on-cash: 6.62%
• DSCR: 1.29
• GRM: 8.6

CMA / ARV

• ARV (median comp): $1,487,095
• List price: $1,195,000
• Delta: -19.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
137 N Kenmore Ave	0.04mi	8/4.0	5,752 (+4%)	2mo	$1,630,000	$283	90
102 N Oxford Ave	0.65mi	8/4.0	5,517 (-0%)	2mo	$1,143,000	$207	67
143 N Commonwealth	0.60mi	8/—	5,258 (-5%)	5mo	$1,425,000	$271	59
537 N Kenmore Ave	0.44mi	8/4.5	5,844 (+5%)	19mo	$1,507,500	$258	53
601 N Normandie Ave	0.61mi	9/9.0 (+1)	5,724 (+3%)	3mo	$2,425,000	$424	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.67×
• Total profit: $-110,408
• Equity at exit: $178,178

10-year hold

• IRR: -4.0%
• Equity multiple: 0.77×
• Total profit: $-77,700
• Equity at exit: $103,322

Cash invested: $334,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Los Angeles: 0 Strongly Tenant-Friendly · D+22

LARSO + JCEO 2023; relocation for substantial remodel evictions.

Methodology + full state rankings →

ZIP-level market 90004

• Rents YoY: -1.7%
• Active inventory: 142
• Price-to-rent: 34.3×

Monthly cashflow live

• Estimated rent: $11,602 high
• Mortgage (P&I): −$6,267
• Tax from tax record: −$554 /mo · $6,647/yr
• Insurance: −$498
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,436
• Net cashflow: $1,847

Break-even live

Break-even rent $9,264

Max offer price $1,195,000

Occupancy floor 79%

Sensitivity live

Price	-10% $2,523	-5% $2,185	+0% $1,847	+5% $1,509	+10% $1,171
Rent	-10% $930	-5% $1,389	+0% $1,847	+5% $2,305	+10% $2,764
Rate	-1.0pp $2,449	-0.5pp $2,151	base $1,847	+0.5pp $1,537	+1.0pp $1,222

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$11,600
Total (4 units)			$11,602

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $298,750
• Closing costs: $35,850
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-17
   pricedays on market $1,195,000 Active 75 DOM
2. 2026-06-08
   days on market $1,190,000 Active 74 DOM
3. 2026-06-07
   days on market $1,190,000 Active 73 DOM
4. 2026-06-04
   days on market $1,190,000 Active 70 DOM
5. 2026-06-03
   days on market $1,190,000 Active 69 DOM
6. 2026-06-02
   days on market $1,190,000 Active 68 DOM
7. 2026-06-01
   days on market $1,190,000 Active 67 DOM
8. 2026-05-31
   days on market $1,190,000 Active 66 DOM
9. 2026-05-18
   price $1,190,000 1402-char remark

   Show marketing remark (1402 chars)

   Attention investors - priced to sell and packed with upside potential. This prime 5,544 SF fourplex is ideally located in the highly desirable Koreatown / Hancock Park adjacent neighborhood, one of Los Angeles' most dynamic rental markets. With stable in-place income, strong tenant demand, and significant opportunity for future rental growth and value enhancement, this property presents an outstanding chance to capitalize on long-term appreciation potential. The two-story Spanish Colonial Revival style property features four spacious 2-bedroom, 1-bathroom units, with functional floorplans including formal living room, family room, large kitchen, inside laundry area. Located just minutes from Downtown Los Angeles and near Wilshire Boulevard, placing it within a vibrant, high-density corridor known for its diverse dining, shopping, and everyday conveniences. Residents benefit from convenient access to Metro lines and major transit routes, enhancing connectivity and overall desirability. The area continues to experience strong tenant demand, supporting consistent occupancy and long-term rental growth. With a clear value-add component, investors have the opportunity to increase rents to market levels as units turn over, significantly boosting cash flow, overall returns and strong future appreciation. Sold as-is, where-is, with tenants in place. Drive by only, do not disturb tenants.

10. 2026-04-10
    price $1,300,000 1402-char remark

    Show marketing remark (1402 chars)

    Attention investors - priced to sell and packed with upside potential. This prime 5,544 SF fourplex is ideally located in the highly desirable Koreatown / Hancock Park adjacent neighborhood, one of Los Angeles' most dynamic rental markets. With stable in-place income, strong tenant demand, and significant opportunity for future rental growth and value enhancement, this property presents an outstanding chance to capitalize on long-term appreciation potential. The two-story Spanish Colonial Revival style property features four spacious 2-bedroom, 1-bathroom units, with functional floorplans including formal living room, family room, large kitchen, inside laundry area. Located just minutes from Downtown Los Angeles and near Wilshire Boulevard, placing it within a vibrant, high-density corridor known for its diverse dining, shopping, and everyday conveniences. Residents benefit from convenient access to Metro lines and major transit routes, enhancing connectivity and overall desirability. The area continues to experience strong tenant demand, supporting consistent occupancy and long-term rental growth. With a clear value-add component, investors have the opportunity to increase rents to market levels as units turn over, significantly boosting cash flow, overall returns and strong future appreciation. Sold as-is, where-is, with tenants in place. Drive by only, do not disturb tenants.

11. 2026-03-31
    price $1,350,000 1402-char remark

    Show marketing remark (1402 chars)

    Attention investors - priced to sell and packed with upside potential. This prime 5,544 SF fourplex is ideally located in the highly desirable Koreatown / Hancock Park adjacent neighborhood, one of Los Angeles' most dynamic rental markets. With stable in-place income, strong tenant demand, and significant opportunity for future rental growth and value enhancement, this property presents an outstanding chance to capitalize on long-term appreciation potential. The two-story Spanish Colonial Revival style property features four spacious 2-bedroom, 1-bathroom units, with functional floorplans including formal living room, family room, large kitchen, inside laundry area. Located just minutes from Downtown Los Angeles and near Wilshire Boulevard, placing it within a vibrant, high-density corridor known for its diverse dining, shopping, and everyday conveniences. Residents benefit from convenient access to Metro lines and major transit routes, enhancing connectivity and overall desirability. The area continues to experience strong tenant demand, supporting consistent occupancy and long-term rental growth. With a clear value-add component, investors have the opportunity to increase rents to market levels as units turn over, significantly boosting cash flow, overall returns and strong future appreciation. Sold as-is, where-is, with tenants in place. Drive by only, do not disturb tenants.

12. 2026-03-26
    listed $1,450,000 Active 1402-char remark

    Show marketing remark (1402 chars)

    Attention investors - priced to sell and packed with upside potential. This prime 5,544 SF fourplex is ideally located in the highly desirable Koreatown / Hancock Park adjacent neighborhood, one of Los Angeles' most dynamic rental markets. With stable in-place income, strong tenant demand, and significant opportunity for future rental growth and value enhancement, this property presents an outstanding chance to capitalize on long-term appreciation potential. The two-story Spanish Colonial Revival style property features four spacious 2-bedroom, 1-bathroom units, with functional floorplans including formal living room, family room, large kitchen, inside laundry area. Located just minutes from Downtown Los Angeles and near Wilshire Boulevard, placing it within a vibrant, high-density corridor known for its diverse dining, shopping, and everyday conveniences. Residents benefit from convenient access to Metro lines and major transit routes, enhancing connectivity and overall desirability. The area continues to experience strong tenant demand, supporting consistent occupancy and long-term rental growth. With a clear value-add component, investors have the opportunity to increase rents to market levels as units turn over, significantly boosting cash flow, overall returns and strong future appreciation. Sold as-is, where-is, with tenants in place. Drive by only, do not disturb tenants.

13. 2000-12-31
    historical
14. 2000-10-04
    soldstatus $325,000
15. 2000-08-03
    historical
16. 2000-04-14
    listed
17. 2000-04-14
    listed $339,000
18. 1996-06-19
    soldstatus $210,000
19. 1996-06-13
    soldstatus $210,000
20. 1996-03-23
    historical
21. 1996-02-13
    listed $219,990

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $6,647 · $554/mo
• Projected year-2 tax: $9,082 · $757/mo
• Expected delta: +$2,435/yr (+$203/mo · 36.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥92°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $139,224
• − Mortgage interest: −$66,939
• − Property taxes: −$6,647
• − Insurance: −$5,975
• − Repairs & maintenance: −$11,138
• − Management: −$11,138
• − Depreciation: −$34,764
• Taxable income: $2,624
• Est. tax owed @ 24.0%: −$630
• After-tax cash flow: $21,534/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Los Angeles Unified
• NCES district ID: 0622710
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 54% ▲ 10.00%
• Median HH income: $50,403
• Composite: 35.67/100
• National rank: #4875
• State rank: #223 of 517 in CA

Livability — Los Angeles

• Score: 68/100
• State rank: #273
• US rank: #9237

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B Housing B- Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Angeles, CA
• County: Los Angeles County · 9,444,647 people
• City population: 3,838,149
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 58,484
• Household income: $64,826
• Rent vs Own: 83.8% rent · 16.2% own
• Severe rent burden: 6512.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 46% Asian 25% White 21% Two or more races 11% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 1% Romanian 1% Scotch-Irish 1%
• Foreign-born: 47% · Canada, South Korea, China
• Languages at home: 34% English-only · Spanish 40% Korean 10% Tagalog/Filipino 8%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -896.52%
• Current HPI: 421.3689
• Rent YoY: ▼ -1.71%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+440.9% since first listed

13 events — show timeline

• 2026-05-18 Price Changed $1,190,000 TheMLS
• 2026-04-10 Price Changed $1,300,000 TheMLS
• 2026-03-31 Price Changed $1,350,000 TheMLS
• 2026-03-26 Listed $1,450,000 TheMLS
• 2000-12-31 Listing Removed — SDMLS
• 2000-10-04 Sold (Public Records) $325,000 Public Records
• 2000-08-03 Delisted — TheMLS
• 2000-04-14 Listed $339,000 SDMLS
• 2000-04-14 Listed — TheMLS
• 1996-06-19 Sold (MLS) $210,000 TheMLS
• 1996-06-13 Sold (Public Records) $210,000 Public Records
• 1996-03-23 Delisted — TheMLS
• 1996-02-13 Listed $219,990 TheMLS

Property tax history

+1.7%/yr

Latest (2025): $6,647 · +2.2% YoY. Source: county tax records.