12003 Berendo Ave - Apartments FOR SALE


Los Angeles, CA 90044- West Athens
$1,250,000 USD
213-943-1897
12003 Berendo Ave, Los Angeles, CA for Sale
$1,250,000 USD
Apartments - FOR SALE
1/9
null | 6.24% Cap Rate

12003 Berendo Ave
Los Angeles, CA 90044
West Athens


HIGHLIGHTS

  • There is approximately 14% rental upside remaining, capturable through ordinary turnover.
  • The property is offered at an 8.47 GRM on scheduled income, below the average of the recent comparable sales in the surrounding submarket.
  • Vermont/Athens Station sits a half-mile north, where the C Line meets the planned southern end of Metro's 12.4-mile Vermont Transit Corridor BRT.
  • The 105 Freeway runs just north of the property, with the 110 roughly a mile east and direct westbound access to the South Bay and LAX.
  • Martin Luther King, Jr. Community Hospital sits about three miles due east along 120th Street, and LAX is about six miles west via the 105.
  • The property offers six two-bedroom units and one three-bedroom unit.

OVERVIEW

The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 12003 Berendo Avenue, a seven-unit apartment community located in the West Athens neighborhood of Los Angeles, one block west of Vermont Avenue at 120th Street. Built in 1963, the property comprises 4,901 square feet of improvements on a 7,828-square-foot parcel, with a unit mix of six two-bedroom units and one three-bedroom unit. There is approximately 14% rental upside remaining, capturable through ordinary turnover. The offering is priced at an 8.47 GRM on scheduled income, below the average of the recent comparable sales in the surrounding submarket. Vermont/Athens Station sits a half-mile north, where the Metro C Line meets the southern terminus of the planned Vermont Transit Corridor — a 12.4-mile bus rapid transit line Metro approved in 2025 to run the length of Vermont Avenue into Hollywood. The 105 Freeway runs just north of the property, reaching LAX in about six miles and the 110 in one, while Martin Luther King, Jr. Community Hospital anchors employment three miles due east along 120th Street. 12003 Berendo Avenue offers investors an opportunity to acquire a value-add asset in one of the better-connected transit pockets of South Los Angeles. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$255 USD /SF

# OF UNITS

7

PRICE/UNIT

$178,571

CAP RATE

6.24%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,828 SF

ZONING

R320U, County

APN/PARCEL ID

6089-003-015

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.