743 S Berendo Street, Los Angeles, CA 90005

$3,200,000 Approx. USD 12 beds, 16 baths
9,955 sqft

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Brochure

Photo of Ed Solorzano

Marketed By Ed Solorzano REALTOR® - Sales Associate 310-990-6252 m
310-777-2863 o
Lic#: 01276829
NRDS ID: 175511657
solorzanorealtor@gmail.com Beverly Hills Office
131 South Rodeo Drive, Ste. 100
Beverly Hills, CA 90212
Phone: 310-777-7800
Fax: 310-858-1295

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Agent Remarks

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 $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.

Listing Details

Property type: (Multi-Family)

Status: Active

MLS# 26633191

Price: $3,200,000

Beds: 12

Baths: 16

None fireplaces

Built in 1950

9,955 sqft

0.28 acres

Lot size: 0.2755