743 S Berendo Street, Los Angeles, CA 90005
- $2,900,000
- 11
- BD
- 16
- BA
- 9,955
- SqFt
Listing courtesy of Listing Agent: William James (will@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..
- List Price
- $2,900,000
- Status
- ACTIVE
- Days on Market
- 10
- MLS#
- 26937237
- Subtype
- Residential Income
- Style
- Mid-Century Modern
- Year Built
- 1950
- Bedrooms
- 11
- Bathrooms
- 16
- Living Area
- 9,955
- Lot Size
- 12,001
- Acres
- 0.28
- MLS Area Major
- Mid-Wilshire (C17)
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
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Additional Information
- Property Description
- Mid-Century Modern
- Zoning
- LAR4
- Appliances
- Refrigerator, Dryer, Washer
- Heating
- Wall Furnace
- Air Conditioning
- Yes
- Exterior Construction
- Stucco
- Stories
- Multi Level
- Levels
- Multi/Split
- Roof
- Composition, Shingle
- Pool Type
- None
- Parking Features
- Assigned, Uncovered
- View
- City Lights
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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, 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.