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749 S Berendo St
Los Angeles, CA 90005
Multifamily Property For Sale
·
10 Units
Investment Highlights
- Approximately 35% upside in rents
- Separately metered for gas and electric. Individual water heaters
- 14 parking spaces with new automatic gate
- Two 1 BR and Eight very large single units
- Pitched built up roof, raised foundation, gated
- Well maintained property. Professionally managed.
Executive Summary
The Berendo property currently consists of ten multifamily units zoned LAR4-2, high density offering solid redevelopment potential. LAR4-2 zoning in Los Angeles permits high-density residential development, including apartment houses, multiple dwellings, and mixed-use projects. The "LAR4" portion allows for 1 dwelling unit per 400 sq. ft. of lot area, while the "2" indicates a Height District 2 designation, generally allowing for unlimited height.
Property Facts
| Price Per Unit | $139,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 5.20% | Building Size | 17,680 SF |
| Gross Rent Multiplier | 10.32 | Average Occupancy | 80% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 0.57/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R5-4, Los Angeles | ||
| Price Per Unit | $139,500 |
| Sale Type | Investment |
| Cap Rate | 5.20% |
| Gross Rent Multiplier | 10.32 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 17,680 SF |
| Average Occupancy | 80% |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 0.57/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R5-4, Los Angeles |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | $10,111 | 540 |
| 1+1 | 2 | $2,714 | 687 |
Property Taxes
| Parcel Number | 5094-009-018 | Improvements Assessment | $72,210 |
| Land Assessment | $263,701 | Total Assessment | $335,911 |
Property Taxes
Parcel Number
5094-009-018
Land Assessment
$263,701
Improvements Assessment
$72,210
Total Assessment
$335,911
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