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    207 S Berendo Street

    Los Angeles (City), CA 90004
    • $4,300,000
    • STATUS: Active
    • ON SITE: 66 days
    • ID#: SB21151640
    UPDATED: 199 min ago
    $4,300,000
    • 0
      BEDS
    • 0.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1924
    County:

    School Ratings & Info

    Description

    This is the first time that this very well located 24 unit apartment building has been on the market since the early 1960s! With billions of new retail/office/hotel and apartment building developments being built within several blocks of this asset, we expect 207 S. Berendo to sell very quickly! The Walk Score for the property is 96, which means that all daily needs are within walking distance. Transit lines are also a very short walk from the property. The property is offered at a very attractive price of $4.3M, which is only $179,167 per unit, and should yield an investor a solid return on their investment. The property was built in 1924. The units are very well laid out. The unit mix consists of 4-1bd/1ba units and 20-studios. The units are separately metered for electricity and master metered for gas and water. There is approximately 40% of rent upside. The roof looks like it is in very good condition. Most of the windows have been replaced. The property has a laundry room in the basement. The water heater looks like it is in very good condition. In general, the property has been well maintained over the years by the long term owner. Pride of ownership shows with this asset! Offering Memorandum included as a Supplement to this listing.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-17T00:28:42.52. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The DeBonis Team | Realty Masters & Associates. Licensed in the State of California, USA.
    www.debonishomes.com/homes/119237320
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    207 S Berendo Street Los Angeles (City), CA 90004

    • Price: $4,300,000
    • Status: Active
    • Updated: 199 min ago
    • ID#: SB21151640
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.21
    Acres
    1924
    Built
    Neighborhood:
    KREA - Koreatown
    County:
    Los Angeles
    Area:
    KREA - Koreatown
    Property Description
    This is the first time that this very well located 24 unit apartment building has been on the market since the early 1960s! With billions of new retail/office/hotel and apartment building developments being built within several blocks of this asset, we expect 207 S. Berendo to sell very quickly! The Walk Score for the property is 96, which means that all daily needs are within walking distance. Transit lines are also a very short walk from the property. The property is offered at a very attractive price of $4.3M, which is only $179,167 per unit, and should yield an investor a solid return on their investment. The property was built in 1924. The units are very well laid out. The unit mix consists of 4-1bd/1ba units and 20-studios. The units are separately metered for electricity and master metered for gas and water. There is approximately 40% of rent upside. The roof looks like it is in very good condition. Most of the windows have been replaced. The property has a laundry room in the basement. The water heater looks like it is in very good condition. In general, the property has been well maintained over the years by the long term owner. Pride of ownership shows with this asset! Offering Memorandum included as a Supplement to this listing.
    Exterior Features

    Lot Features 21-25 Units/Acre Number Of Separate Electric Meters 24 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Common Walls 1 Common Wall

    Property Features

    Additional Parcels YN No Common Interest None Community Features Urban Electric Expense 1478 Fuel Expense 6895 Garage YN No Gross Income 302969 Gross Scheduled Income 302969 Insurance Expense 6040 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 Exchange Net Operating Income 162995 New Construction YN No New Taxes Expense 53800 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 21 Operating Expense 130885 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 8258 Vacancy Allowance Rate 3 Water Sewer Expense 23104 Water Source Public Zoning Lar3

    Listing provided courtesy of Martin Ensbury of Keller Williams Beach Cities and Nicholas Ensbury of Keller Williams Beach Cities


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-17T00:28:42.52. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The DeBonis Team | Realty Masters & Associates. Licensed in the State of California, USA.
     
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