743 S Berendo St, Los Angeles, CA 90005
- $2,900,000
- 11
- BD
- 16
- BA
- 9,955
- SqFt
- List Price
- $2,900,000
- MLS#
- 26937237
- Year Built
- 1950
- Bedrooms
- 11
- Bathrooms
- 16
- Living Sq. Ft
- 9,955
- Lot Size
- 12,001
- Lot Location
- City
- Days on Market
- 12
- Property Type
- Multifamily
- Style
- Mid-Century
Property Description
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 $2,900,000, the property is currently priced at a 7.63% cap rate and 98.37 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 6.0% interest rate and a healthy 1.52 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 8.07% pro forma cap rate and 7.70 GRM, offering meaningful upside while maintaining operational stability
Additional Information
- Lot Description
- Single Lot, Lot Shape-Rectangular, Exterior Security Lights, Fenced, Alley Paved
- Other Buildings
- None
- Pool Description
- None
- Heat
- Wall
- Cooling
- Wall/Window
- View
- City
- Exterior Construction
- Stucco
- Number of Cars in Garage
- Assigned, Uncovered
- Water
- Public
Mortgage Calculator
Courtesy of Lyon Stahl Investment Real Estate, Inc., William James - CA DRE#01734419
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