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810 S Berendo St 17 Unit Apartment Building $4,500,000 ($264,706/Unit) 5.26% Cap Rate Los Angeles, CA 90005
Investment Highlights
- Built in 1991. No L.A. RSO. Rents can be immediately raised.
- Value-add opportunity to increase NOI by 54%.
- Superb Koreatown location two blocks from Wilshire Blvd.
- 33% Loss to Lease.
- Great unit mix of (13) 2B/2BA and (4) 1B/1BA with central A/C.
- Ability to purchase with the adjacent shopping center.
Executive Summary
Built in 1991, the property is not subject to the City of Los Angeles Rent Stabilization Ordinance (RSO) and offers investors immediate rental upside through AB 1482. The property consists of (13) 2-bedroom/2-bath units and (4) 1-bedroom/1-bath units, totaling approximately 12,747 square feet on a 7,252 square foot LAR4-zoned lot. Amenities include 24 subterranean parking spaces, central air conditioning and heating in every unit, controlled access, and an on-site laundry. Property being sold with adjacent shopping center. Can be purchased individually or as a portfolio.
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 | $4,500,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $264,706 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.26% | Building Size | 12,747 SF |
| Gross Rent Multiplier | 11.22 | No. Stories | 4 |
| No. Units | 17 | Year Built | 1991 |
| Property Type | Multifamily | Parking Ratio | 1.1/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LAR4 - High-rise residential | ||
| Price | $4,500,000 |
| Price Per Unit | $264,706 |
| Sale Type | Investment |
| Cap Rate | 5.26% |
| Gross Rent Multiplier | 11.22 |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 12,747 SF |
| No. Stories | 4 |
| Year Built | 1991 |
| Parking Ratio | 1.1/1,000 SF |
| Zoning | LAR4 - High-rise residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,245 | 550 |
| 2+2 | 13 | $2,187 | 800 |
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5094-013-020 | Improvements Assessment | $1,889,228 |
| Land Assessment | $108,920 | Total Assessment | $1,998,148 |
Property Taxes
Parcel Number
5094-013-020
Land Assessment
$108,920
Improvements Assessment
$1,889,228
Total Assessment
$1,998,148
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