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Berendo Apartments 743 S Berendo St 16 Unit Apartment Building $2,950,000 ($184,375/Unit) 7.51% Cap Rate Los Angeles, CA 90005
Investment Highlights
- Located in Prime Koreatown, two blocks from the Wilshire/Vermont metro station and walking distance to Koreatown hotspots
- Offered at an attractive 8.5 GRM and 7.7% Cap Rate
- Located along LA metro's D Line(Purple Line). The location boasts a 96 walk score "walker's paradise"
- Efficient unit mix consisting of (10) one bedroom, (1) two bedroom and (5) studio units
- The property offers open on-site parking for 9 vehicles located at the rear of the property via alley access
Executive Summary
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 $2,950,000, the property is currently priced at a 7.7% cap rate and 8.5 GRM, providing solid going-in returns in one of Los Angeles’ most supply-constrained rental markets.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,950,000 | Building Class | C |
| Price Per Unit | $184,375 | Lot Size | 0.28 AC |
| Sale Type | Investment | Building Size | 9,955 SF |
| Cap Rate | 7.51% | Average Occupancy | 94% |
| Gross Rent Multiplier | 9.29 | No. Stories | 2 |
| No. Units | 16 | Year Built | 1950 |
| Property Type | Multifamily | Parking Ratio | 0.9/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R4, Los Angeles | ||
| Price | $2,950,000 |
| Price Per Unit | $184,375 |
| Sale Type | Investment |
| Cap Rate | 7.51% |
| Gross Rent Multiplier | 9.29 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 9,955 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1950 |
| Parking Ratio | 0.9/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4, Los Angeles |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $2,100 | 650 - 690 |
| Studios | 5 | $1,600 | 450 - 800 |
| 2+1 | 1 | $2,400 | 800 |
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Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5094-009-017 | Improvements Assessment | $593,811 |
| Land Assessment | $724,158 | Total Assessment | $1,317,969 |
Property Taxes
Parcel Number
5094-009-017
Land Assessment
$724,158
Improvements Assessment
$593,811
Total Assessment
$1,317,969
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