Sold

2516 Kent Street

Los Angeles CA, 90026

$4,205,000


$451.57 per sqft

Sold

8 Beds

16 Baths

9,312 sqft

Residential

Built in 1929

Listed by Nick Astrupgaard with KW Commercial Studio City 818-432-1500

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.

23253983

MLS ID

March 24, 2023

Listed

March 23, 2024

Updated

Map

2516 Kent Street
Los Angeles CA, 90026

Interior Features

Total Stories

2


Bedrooms

8 Beds


Bathrooms

16 Baths


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.16 Acres

Other Property Details

Area Name

C21 - Silver Lake - Echo Park


Days on Market

139


Garage

No


Parking

None


Parking Total

0


View

No


County

Los Angeles


Pool

No


Zoning

LARD2


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

8/22/2023

Price Change

$4,205,000

-7%

8/22/2023

Sold

$4,205,000

8/14/2023

Pending

Listing Contact: 818-432-1500 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/23/2024 at 1:18 AM UTC

 

Powered byLuxury Presence