2516 Kent Street, Los Angeles, CA 90026

About this property

2516 Kent Street is a sixteen-unit apartment community in Los Angeles. The offering provides investors a unique opportunity to purchase a premium asset with strong income metrics in one of the strongest rental markets in Los Angeles. The location is in the middle of the heavily sought-after Silver Lake and Echo Park sub-markets. Silver Lake and Echo Park attract young and diverse residents that appreciate all the unique experiences, hippest restaurants, and destinations in the immediate area. 2516 Kent Street is a short walk from many happening coffee shops and dining options and a short drive from the City's primary employers in Hollywood and Downtown Los Angeles. It features an attractive unit composition of eight (8) One- Bedroom | One-Bathroom units and eight (8) generously sized Studio Lofts. Fifteen of the sixteen (94%) apartment homes have been dramatically restyled and renovated throughout and include new gleaming wood floors and sleek, designer kitchens featuring new cabinetry, butcher block countertops, and updated appliances. The new baths feature new cutting-edge fixtures and flooring throughout. These updated units have proven to attract and satisfy today's intelligent, urban Silver Lake renter and sustain some of the strongest rents in the market. Additional features throughout the property include 1) Gated/secured entry 2) Stylish bucolic outdoor gathering space featuring BBQ/dining area/seating area 3) Tasteful exterior paint job and color palette 4) Attractive streetscape and landscaping 5) Updated common areas with updated design and doors, lighting, locks, and fixtures, and 7) Rooftop energy efficient air conditioning/heating units. Considering the scope and quality of improvements to the asset, 2516 Kent Street is perfectly poised to continue to capture the area's best residents and strongest rents and exhibit below-market operating expenses well into the future. 2516 Kent Street is located in a residential area, so parking is easy for tenants.

Listing description from the August 2023 sale, as reported to CRMLS.

Sale history

$4,205,000

Sold August 2023 · listed $4,475,000, on market March 2023 · MLS #23253983 · Source: CRMLS

Listing Agent: Nick Astrupgaard · Listing Office: KW Commercial Studio City · Contact: 818-432-1500 · Bought with: Laura Silver · Realty Source Incorporated

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