Proudly presents 1184 N Berendo St, a PRIME Value-Add Investment opportunity just two blocks from Sunset Blvd. Offering a HIGH Proforma CAP rate of 8.5%+, investors have an excellent opportunity to acquire an undervalued 10-Unit Apartment Building with one vacancy! Being at the Heart of East Hollywood, it is centrally located in the highly desirable opportunity zone and just minutes away from Larchmont Village, Hollywood, Koreatown, Silverlake & Downtown Los Angeles.
Built-in 1958, the building of 10 exceptional units totaling 7,864 SF of living area on a sizeable 7,815 SF lot. All while offering a unique & strong unit mix of (8) 1B+1B, (1) 2B+1B, and (1) 2B+2B to ensure strong rents & consistent cash flow for the owner. The Property also offers nine parking spaces in a highly condensed area with little to no parking nearby, making it stand out and highly desirable for prospective tenants. The buildings also offer laundry hook-ups to create a community laundry room & increase the cash flow of the property for the next owner. Being individually metered for Gas & Electrical, the owner only covers items such as Water, Trash & Maintenance.
Close to Sunset Blvd & Vermont Ave, located within 5-8 Minutes away from Koreatown, Central Los Angeles, The Larchmont Village, Melrose Hill, Hollywood, Historic Filipino Town, Angelino Heights, Echo Park, and Silver Lake. 1184 N Berendo St is in perfect adjacency to many of Los Angeles’s trendiest boutique restaurants, coffee shops, and upscale balls. While Its location provides easy access to many of the city’s largest & strongest employers and major retailers. Some employers include Netflix, Paramount Studios, Sunset Gower, LACMA, Los Angeles City College, American Career College, Koreatown Plaza, Kaiser Sunset, and The Los Angeles Children’s Hospital. Some major retailers include Ralphs, Vons, Starbucks, Mcdonald’s, California Donuts, Rite Aid, and many more.
All these great amenities while providing excellent access to the 101 and 110 Freeway, 15 minutes away from L.A Live Crypto Arena (Home of the Lakers and LA Kings), and Walt Disney Concert Hall (Home of the LA Phil). It is ideally located at the heart of East Hollywood. Its locations & amenities locate in one of the strongest submarkets of Los Angeles, California.