207 S Berendo Street, Los Angeles, CA 90004

Property Description

This is the first time that this very well located 24 unit apartment building has been on the market since the early 1960’s! 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.