743 S Berendo St - Apartments FOR SALE


Los Angeles, CA 90005- Koreatown
$3,200,000 USD
310-467-7581
743 S Berendo St, Los Angeles, CA for Sale
$3,200,000 USD
Apartments - FOR SALE
1/10
null | 6.92% Cap Rate

743 S Berendo St
Los Angeles, CA 90005
Koreatown


HIGHLIGHTS

  • Located in Prime Koreatown, two blocks from the Wilshire/Vermont metro station and walking distance to Koreatown hotspots
  • Efficient unit mix consisting of (10) one bedroom, (1) two bedroom and (5) studio units
  • Current rents are below market leaving approximately $32,000 in additional upside
  • The property offers open on-site parking for 9 vehicles located at the rear of the property via alley access
  • Located along LA metro's D Line(Purple Line). The location boasts a 96 walk score "walker's paradise"

OVERVIEW

743 S. Berendo Street represents an opportunity to acquire a stabilized, well-performing multifamily asset in Prime Koreatown, ideally located one block south of Wilshire Boulevard and just two blocks from the Wilshire/Vermont Metro Station. The property benefits from a 94 Walk Score (“Walker’s Paradise”), offering residents exceptional walkability to neighborhood retail, dining, and transit, key drivers of sustained rental demand in this submarket. Offered at an asking price of $3,200,000, the property is currently priced at a 6.82% cap rate and 9.29 GRM, providing solid going-in returns in one of Los Angeles’ most supply-constrained rental markets. The asset supports favorable financing assumptions, including approximately 70% loan-to-value at an estimated 5.65% interest rate and a healthy 1.39 debt coverage ratio, resulting in approximately 6.30% cash-on-cash return on current operations. With continued rent growth to market levels, the property projects to a 7.31% pro forma cap rate and 8.49 GRM, offering meaningful upside while maintaining operational stability.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$321 USD /SF

# OF UNITS

16

PRICE/UNIT

$200,000

CAP RATE

6.92%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Berendo Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,197 SF

ZONING

R4, Los Angeles

APN/PARCEL ID

5094-009-017

ASK ABOUT THIS PROPERTY

Peter JamesLyon Stahl Investment Real EstateMore Info
310-467-7581

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Peter JamesLyon Stahl Investment Real EstateMore Info
310-467-7581

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