743 S Berendo Street,Los Angeles, CA 90005
Los Angeles, CA 90005
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
Details
| MLS # | 26937237 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1950 |
| Days On Site | 17 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. | William James |
Features
| Bed(s) | 11 |
|---|---|
| Bath(s) | 16 |
| SQ Feet | 9,955 |
| Units | 16 |
| Building(s) | 1 |
| Zoning | LAR4 |
| Acreage | 0.28 |
| Property View | Yes |
Interior
| Cooling | Wall Window Units |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Appliances | Refrigerator, Dryer, Washer |
| Fireplace Yes / No | No |
Exterior
| Roof | Composition, Shingle |
|---|---|
| Construction Materials | Stucco |
| Lot Features | Rectangular Lot |
Parking
| Parking Features | Assigned, Uncovered |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90005 |
| Area | C17 Mid Wilshire |
| Listing VS Median (in 90005) | |
Price: $2,900,000 low | high Med: $2,900,000 sqft: 9,955 low | high Med: 7,472 $ / sqft: $291 low | high Med: $388 On site: 17 low | high Med: 156 | |
Market Activity 90005
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90005 |
| Area | C17 Mid Wilshire |
| Listing VS Median (in 90005) | |
Price: $2,900,000 low | high Med: $2,900,000 sqft: 9,955 low | high Med: 7,472 $ / sqft: $291 low | high Med: $388 On site: 17 low | high Med: 156 | |
