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… Read More 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 6.92% 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 6.91% 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. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., William James 310-259-7556
Listing Snapshot
Days Online
8
Last Updated
Beds
12
Square Ft.
9,955
Lot Size
0.28 Acres
Year Built
1950
MLS Number
26633191
Additional Details
Appliances & Equipment
Refrigerator, Dryer, Washer
Building
Built in 1950, Living area: 9955.0, 1 building, Building faces East, 2 stories, Levels: MultiSplit, Entry level: 1, Entry location: Ground Level w/steps, Construction Materials: Stucco
Community
Gated
Cooling
WallWindowUnits
Fireplaces
None
Heating
WallFurnace
Income
Gross Income: $345,968, Net Operating Income: $218,172
Laundry
CommonArea, LaundryRoom
Lot
0.2755 acres, Dimensions: 80x150
Parking
9 open parking spaces, 9 total parking spaces, Assigned, Carport, Uncovered
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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