749 S Berendo,Los Angeles, CA 90005
Los Angeles, CA 90005
Description
The Berendo property currently consists of a turn-key ten multifamily units zoned LAR4-2, high density offering solid redevelopment potential. LAR4-2 zoning in Los Angeles permits high-density residential development, including apartment houses, multiple dwellings, and mixed use projects. The "LAR4" portion allows for 1 dwelling unit per 400 sq. ft. of lot area, while the "2" indicates a Height District 2 designation, generally allowing for unlimited height. Approximately 28% upside in rents. Separately metered for gas and electric. Individual water heaters. Pitched built up roof, raised foundation, gated. Fourteen parking spaces with new automatic gate. Well maintained property. Professionally managed. Excellent transportation. 96 Walkscore. Most recent single unit rented at $1,475 (June 2026). Newly reconstructed second floor exterior walkway. One block from Robert F. Kennedy Community School. Gated frontage and entry. Low maintenance landscaping. Unit mix consists of two, one bedroom units and eight large singles with kitchens. Can be delivered with two vacancies. Gross Rent Multiplier 9.71 at current rents, 7.54 at market. Capitalization rate 5.71% current, 8.16% at market. $138,400 cost per unit. $212 cost per square foot. Current rent per square foot at $2.03, estimated rent per square foot at market $2.67. Large lot with most parking leased separately.
Details
| MLS # | SR26132353 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1956 |
| Days On Site | 90 |
| Listing Provided By | Hanes Investment Realty, Inc. | Todd Schwartz |
Features
| SQ Feet | 5,720 |
|---|---|
| Story(s) | 2 |
| Units | 10 |
| Building(s) | 1 |
| Zoning | LAR4-2 |
| Acreage | 0.21 |
| Property View | None |
Interior
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
| Fireplace Yes / No | No |
Exterior
| Roof | See Remarks |
|---|---|
| Construction Materials | Frame, Stucco |
| Foundation Details | Raised |
| Lot Features | Thirty Six To Forty Units Acre |
| Fencing | See Remarks |
Parking
| Parking Features | Assigned, Asphalt |
|---|---|
| Garage Yes / No | No |
Utilities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Sewer | Public Sewer |
Location
| Community Features | Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90005 |
| Area | KREA Koreatown |
| Listing VS Median (in 90005) | |
Price: $1,384,000 low | high Med: $595,000 sqft: 5,720 low | high Med: 948 $ / sqft: $242 low | high Med: $628 On site: 90 low | high Med: 84 | |
Market Activity 90005
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90005 |
| Area | KREA Koreatown |
| Listing VS Median (in 90005) | |
Price: $1,384,000 low | high Med: $595,000 sqft: 5,720 low | high Med: 948 $ / sqft: $242 low | high Med: $628 On site: 90 low | high Med: 84 | |
