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Property Details

Year Built: 1925
Units: 8
Price / Unit: $237,500
Price / SqFt: $239
CAP: 5.05%
GRM: 12.37

Executive Summary

Marcus & Millichap is pleased to present 211 S Berendo St, in Los Angeles, CA. Built in 1925, this 8-unit property is located on 9,387 SF lot in the Wilshire Center- Koreatown neighborhood. The two-story building features spacious one-bedroom units, many with dual entrances.

This offering presents an investor the opportunity to capture the 21% rental upside through renovations when the units turn as well as the possibility of converting into two bedrooms* (contact broker for additional details). Five of the units will be delivered vacant at the close of escrow. Additionally, the subject property has 8 total parking spaces, very rare for the neighborhood. The property is being offered at a low price per SF of $239.

The Wilshire Center- Koreatown neighborhood continues to grow at a rapid pace and attracts high-end residents with the unparalleled access to employment opportunities and entertainment amenities. The subject property has a walk score of 89 and the location allows for a quick commute to both Hollywood and Downtown Los Angeles. The immediate area surrounding the subject property has a population of over 640,000 within a three-mile radius.

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