Hollywood Mixed-Use Development
For Sale
$1,999,900
1108 N Kenmore Ave, Los Angeles, CA 90029
Mixed-use property in prime Hollywood location with development potential.
Property Size2,639 SF
Lot Size0.19 Acres
Days on Market166
Property Features for 1108 N Kenmore Ave
General Information
Standard status
Active
Size
2,639 SF
Lot size
0.19 Acres
Property subtype
Investment
Building Details
Building Size
2,639 SF
Year Built
1919
Stories
1
Units
3
Listing Agency:
Realty Executives Homes
(661) 286-8600
Listed By:
Jim Mangassarian · License #00835836
(661) 286-8600
Source:
Elliman
Added: Mar 11
Changed: Aug 16
Last Checked: Aug 22 at 9:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty Executives Homes
Investment Insights
Based on property information with market context.
Located in the heart of Hollywood, this mixed-use property is surrounded by single-family homes, apartment complexes, and small businesses. The property is situated within a quarter mile of the Santa Monica / Vermont Metro Rail Station, providing convenient access to transportation, shopping, and schools, including Los Angeles City College (LACC), most of which are within walking distance. Zoned C-2 commercial, the property includes a retail storefront at street level and two residential units in the rear. Currently, the storefront and one residential unit are rented on a month-to-month basis, while the owner occupies the other unit, which could also be rented for additional income. The property is located within a State Enterprise Zone. This property presents multiple opportunities: it could suit a family with a small business looking to live in one of the rear units, lease out the other residential unit, and operate their retail business from the storefront. Alternatively, it could be ideal for an investor to lease all three units. The highest and best use may be to develop the property into multi-residential units, offering a great opportunity for developers in this rapidly evolving Hollywood location, which is transitioning from single-family homes to new multi-unit apartment complexes. The surrounding area features numerous new complexes, with approximately 15 such properties within a half-mile radius, including five on the same block and others just a block or two away. There may be the potential to build 12 to 16 units on the property, subject to verification with local city ordinances.
Key Highlights
- Development Opportunity: Potential to build 12‑16 multi‑residential units (subject to city verification) in a rapidly developing area of Hollywood.
- Prime Location: Situated in the heart of Hollywood, close to transportation, shopping, and schools, including Los Angeles City College (LACC).
- C‑2 Commercial Zoning: Allows for a variety of business and residential uses.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$61,244
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,224,880
$1.2M
Cap Rate 7%
$874,914
$874.9K
Cap Rate 9%
$680,489
$680.5K
Market Conditions
NOI Build-Up for 2,639 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$97.5K $36.96/SF
− Vacancy
−$10.0K −$3.81/SF
EGI
$87.5K $33.15/SF
− OpEx
−$26.2K −$9.95/SF
NOI
$61.2K $23.21/SF
Area
Los Angeles, CA
Vacancy
10.30%
Lease Rate
$36.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,224,880
Cap Rate 7%
$874,914
Cap Rate 9%
$680,489
Alternative Uses
Best Use
Retail
$874.9K
$765.6K – $1.02M
NOI $61,244 @ 7.0% cap · market cap 3.06%
Second Best
Mixed Use
$763.4K
$668.0K – $890.7K
NOI $53,440 @ 7.0% cap · market cap 2.67%
Theoretical Best
Multifamily LT 5
$53.46M
$46.78M – $62.38M
NOI $3,742,519 @ 7.0% cap · market cap 187.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,181
Businesses Nearby
Explore this area
Business Placement
Demographics for 90029, CA
34,695
Population
14,465
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
76%
High-School Grad
1.4 sq mi
ZIP Area
24,782
Density / Sq Mi
$60,793
Median Household Income
$35,801
Median Earnings
$1,644
Median Rent
$1,066,200
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property in prime Hollywood location with development potential.
Where is this mixed-use property located?
The property is located at 1108 N Kenmore Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,999,900.
What are key features of this property?
This property features: Development Opportunity: Potential to build 12‑16 multi‑residential units (subject to city verification) in a rapidly developing area of Hollywood.; Prime Location: Situated in the heart of Hollywood, close to transportation, shopping, and schools, including Los Angeles City College (LACC).; C‑2 Commercial Zoning: Allows for a variety of business and residential uses.
