We are pleased to present this 16 unit offering located on Berendo just a block south of Wilshire Blvd in the heart of Koreatown. The property has an excellent unit mix consisting of (1) 2 Bed / 1 Bath, (10) 1 Bed / 1 Bath, (5) Single / 1 Baths. The subject property is a courtyard style building built in 1950 and has been very well maintained with beautiful landscaping, a secure gated entry and parking in the rear. The units are spread out across 9,955 square feet of gross leasable area and sits on a large 11,998 square foot lot that is zoned LAR4. An investor will benefit from good in place cash flow with upside potential. Attractive assumable financing with loan amount of $2,400,000 at a 3.49% interest rate fixed until 5/1/2027.
Situated in the heart of Koreatown, 743 S Berendo St benefits from its central location and excellent connectivity. The neighborhood is bordered by major thoroughfares such as Wilshire Boulevard to the north and 8th Street to the south, providing convenient access to other parts of Los Angeles. The nearby 101 and 10 freeways offer quick connections to the rest of the city and beyond. Additionally, public transportation options are abundant, with several bus routes and the Wilshire/Western Metro station within walking distance, making it easy to navigate the city without a car. The neighborhood is famous for its fantastic dining scene, with numerous Korean BBQ restaurants, trendy cafes, and night life. Numerous new highrise and commercial developments surround the subject property ensuring long term growth in the area.
