- The Neema Group of Marcus & Millichap is pleased to present a four-unit investment opportunity located at 11837 Berendo Ave in the West Athens neighborhood of Los Angeles, a centralized location for tenants to commute easily to the South Bay, Mid-Cities and Downtown Los Angeles.
- The subject property features one two-bedroom and three three-bedroom units with parking located at the rear of the property.
- Stabilized investment opportunity with strong in-place current income with a 5.88% CAP rate and 11.78 GRM at the asking price.
- Strong cash flow and little deferred maintenance; ideal for an investor seeking a passive income from a high quality building in a highly gentrifying submarket.
- All units have new hardwood floors, paint, wood cabinetry, modern appliances, tile bathrooms, and new windows
- The property is only an eight-minute walk from the Metro Green at the Vermont / Athens station
- Located in the West Athens area just off 105/110 in Los Angeles with parks and shopping nearby
- Across the street from West Athens elementary
Strategically Located Near 105 Freeway Located about 12 miles south of downtown Los Angeles, West Athens has an urban atmosphere and a tight-knit community. Most of the neighborhood features apartment buildings and single-story houses. When residents want to get active, they go to Hellen Keller Park or the Chester Washington Golf Course, which also has an event space available. Those interested in taking a class or watching college sports can check out Los Angeles Southwest College.
West Athens delivers a casual dining scene of small local eateries, including Tacos La Perla and Steven’s Burgers, a neighborhood staple that has been around for decades. The nightlife consists of friendly, laid-back bars, such as Rigo’s Place Bar, where you can also shoot some pool. The area sits right along both Interstate 105 and 110, keeping you connected to the rest of the city.
The neighboring city of Gardena
The City of Gardena an “All-America City” is a small, highly urbanized community of 5.9 square miles (15 km2) within the South Bay Basin of Los Angeles County, 13 miles (21 km) from Downtown Los Angeles. Gardena, California is a city of 61,000 inhabitants. Nearly 40% of adults age 25 and older have four years or more of college, including men and women with a wide variety of job capabilities, from entry level to the specialized technical, supervisory and management level.