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927 S Berendo St
Los Angeles, CA 90006 Koreatown

$1,800,000 USD

Apartments For Sale  •  16,736 SF

Property Details

  • Property Type Apartments
  • Total Building Size 5,294 SF
  • Lot Size 0.18 AC
  • Building Class C
  • Year Built 1987
  • Zoning R4, Los Angeles
90 Transit Score
80 Walk Score

Highlights

EXEMPT FROM THE LA RSO — 1987 construction places the property under CAState AB 1482 allowing more favorable 5% plus CPI annual rent increases.
TWO UNITS DELIVERED VACANT — Units #3 and #7 are currently vacant, allowing a new owner to lease at market rents.
ALL TWO-BEDROOM UNIT MIX — Seven 2Bed+1Bath units averaging 756 square feet across 5,294 square feet of building area
ADU POTENTIAL — The rear of the large lot includes a freestanding carport and the rear of the building has a large tuck-under parking area.
SUPERIOR IN-PLACE RETURN TO COMPARABLES — The offering prices to a 6.71%in-place cap and 9.61 GRM against a comparable average of 5.94% and 10.64
RENTAL UPSIDE — After lease up of vacant units property still allows for almost 10% additional rental upside.

Property Flyers

Public Transportation

Commuter RailDriveWalkDistance
Los Angeles (Coast Starlight - Amtrak, Pacific Surfliner - Amtrak, Sunset Limited - Amtrak, Texas Eagle - Amtrak) 9 min - 4.3 mi
L. A. Union Station Metrolink Station (Metrolink 91-Perris Valley Line - Metrolink Trains, Metrolink Orange County Line - Metrolink Trains, Metrolink Riverside Line - Metrolink Trains, Metrolink San Bernardino Line - Metrolink Trains, Metrolink Ventura County Line - Metrolink Trains) 10 min - 4.7 mi
Transit/SubwayDriveWalkDistance
Wilshire/Vermont Station (Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro), Red Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 14 min 0.8 mi
Wilshire/Normandie Station (Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 16 min 0.9 mi
AirportDriveWalkDistance
Bob Hope 22 min - 13.0 mi
Los Angeles International 23 min - 13.6 mi
Long Beach (Daugherty Field) 32 min - 23.4 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 9
Type: Surface
Included in Rent: Yes
Josh Kaplan 310-795-0903 Equity Union Commercial
Josh Kaplan 310-795-0903 Equity Union Commercial