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1119 N Berendo St 4 Unit Apartment Building $2,550,000 ($637,500/Unit) 5.50% Cap Rate Los Angeles, CA 90029
INVESTMENT HIGHLIGHTS
- One 3 bedroom can delivered vacant or occupied - allowing for owner occupancy financing.
- Walkable Virgil Village location steps to Michelin dining, Erewhon, and Silver Lake.
- Turnkey 1031 exchange opportunity — ready to close now!
- Larger floorplans that outperform typical new construction.
- Property management services can easily be transferd to new owner - hassle free and income generating on day 1!
- 2021-built fourplex with four years of proven rental history.
EXECUTIVE SUMMARY
The 2-4 Unit Specialists are pleased to present 1119 N Berendo, a 2021-built fourplex in Virgil Village (Silver Lake adj.), East Hollywood offering a strong 5.50% cap rate, four years of proven rental history, and a 75% stabilized income stream.
The property features a desirable mix of three 3 bedroom units (one deliverable vacant or occupied) and one 2 bedroom unit, all separately metered with private balconies, in-unit laundry, and modern, easy-to-maintain finishes. Floorplans are noticeably larger than typical brand new construction in the area, with kitchen islands, generous living rooms, and oversized bedrooms and massive walk-in closets that support long-term tenant retention and consistently low vacancy. While many newer builds squeeze in extra bedrooms at the expense of livability, these layouts offer real space and comfort, contributing to strong performance over the last four years. The vacant 3 bedroom also provides a rare opportunity for owner occupancy and attractive owner-occupied financing.
This is a straightforward, low-expense rental asset in one of LA’s fastest-growing Eastside submarkets minutes from Silver Lake and Los Feliz. Current market rents are $3,900, $3,800, and $3,500 (2 bed) monthly, and the vacant 3 bedroom is currently listed at $3,995/mo. Strong occupancy since 2021 reinforces the property’s reliability for long-term income.
Surrounded by Michelin Guide–recognized restaurants including Saffy’s, Found Oyster, Budonoki, and Courage Bagels, and just moments from Erewhon and Silver Lake, 1119 N Berendo sits in a highly walkable, supply-constrained rental pocket. Its proximity to Hollywood, Los Feliz, and major job hubs such as Netflix HQ, Paramount Studios, Kaiser Hospital, and Sunset & Gower Studios attracts a stable renter base seeking newer construction with top Eastside amenities and nightlife.
With its proven operating history, desirable unit mix, larger and more functional layouts, and prime Virgil Village (Silver Lake adj.) location, 1119 N Berendo offers a rare opportunity to secure a dependable, income-producing asset in one of Los Angeles’s most in-demand rental markets.
The property features a desirable mix of three 3 bedroom units (one deliverable vacant or occupied) and one 2 bedroom unit, all separately metered with private balconies, in-unit laundry, and modern, easy-to-maintain finishes. Floorplans are noticeably larger than typical brand new construction in the area, with kitchen islands, generous living rooms, and oversized bedrooms and massive walk-in closets that support long-term tenant retention and consistently low vacancy. While many newer builds squeeze in extra bedrooms at the expense of livability, these layouts offer real space and comfort, contributing to strong performance over the last four years. The vacant 3 bedroom also provides a rare opportunity for owner occupancy and attractive owner-occupied financing.
This is a straightforward, low-expense rental asset in one of LA’s fastest-growing Eastside submarkets minutes from Silver Lake and Los Feliz. Current market rents are $3,900, $3,800, and $3,500 (2 bed) monthly, and the vacant 3 bedroom is currently listed at $3,995/mo. Strong occupancy since 2021 reinforces the property’s reliability for long-term income.
Surrounded by Michelin Guide–recognized restaurants including Saffy’s, Found Oyster, Budonoki, and Courage Bagels, and just moments from Erewhon and Silver Lake, 1119 N Berendo sits in a highly walkable, supply-constrained rental pocket. Its proximity to Hollywood, Los Feliz, and major job hubs such as Netflix HQ, Paramount Studios, Kaiser Hospital, and Sunset & Gower Studios attracts a stable renter base seeking newer construction with top Eastside amenities and nightlife.
With its proven operating history, desirable unit mix, larger and more functional layouts, and prime Virgil Village (Silver Lake adj.) location, 1119 N Berendo offers a rare opportunity to secure a dependable, income-producing asset in one of Los Angeles’s most in-demand rental markets.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$182,340
|
$27.21
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,470
|
$0.82
|
| Effective Gross Income |
$176,870
|
$26.40
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$36,727
|
$5.48
|
| Net Operating Income |
$140,143
|
$20.92
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $182,340 |
| Annual Per SF | $27.21 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $5,470 |
| Annual Per SF | $0.82 |
| Effective Gross Income | |
|---|---|
| Annual | $176,870 |
| Annual Per SF | $26.40 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $36,727 |
| Annual Per SF | $5.48 |
| Net Operating Income | |
|---|---|
| Annual | $140,143 |
| Annual Per SF | $20.92 |
PROPERTY FACTS
| Price | $2,550,000 | Building Class | B |
| Price Per Unit | $637,500 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 6,700 SF |
| Cap Rate | 5.50% | Average Occupancy | 75% |
| Gross Rent Multiplier | 13.98 | No. Stories | 3 |
| No. Units | 4 | Year Built | 2021 |
| Property Type | Multifamily | Parking Ratio | 1.19/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | LARD1.5 | ||
| Price | $2,550,000 |
| Price Per Unit | $637,500 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 13.98 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 6,700 SF |
| Average Occupancy | 75% |
| No. Stories | 3 |
| Year Built | 2021 |
| Parking Ratio | 1.19/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 1 | $3,500 | 1,319 |
| 3+3.5 | 3 | $3,898 | 1,593 - 1,775 |
1 1
Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (71)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 5540-024-013 | Improvements Assessment | $1,120,978 (2025) |
| Land Assessment | $718,400 (2025) | Total Assessment | $1,839,378 (2025) |
PROPERTY TAXES
Parcel Number
5540-024-013
Land Assessment
$718,400 (2025)
Improvements Assessment
$1,120,978 (2025)
Total Assessment
$1,839,378 (2025)
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1119 N Berendo St
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