927 S Berendo St, Los Angeles, CA 90006

Description

See OM in DOCS section. We are pleased to present the opportunity to acquire 927 S Berendo St., a seven-unit multifamily investment property located in the Koreatown neighborhood of Los Angeles. Built in 1987,the 5,294 square foot building sits on a 7,748 square-foot lot and is comprised entirely of two-bedroom, one-bath units. Two of the seven units are vacant and available to lease at market today. Because the building was constructed in 1987, the property is exempt from the Los Angeles Rent Stabilization Ordinance and is governed instead by the statewide cap under AB 1482. UNIT DETAILS Unit features include large bedrooms, large full bathrooms, large kitchens, separate spacious living room areas andample closet and storage space. The units have seen various updates to kitchens, bathrooms and flooring over time. Due to ample available space, investors can explore the possibility of adding washer/dryers in each unit. COMMON AREA DETAILS The property is a garden-style walk up with exterior access to each unit. There is a laundry room on site that contains a washer and dryer for tenant use. All units are separately metered for electricity and gas and have their own individual water heaters and the landlord pays for water and trash. Parking is included with nine total spaces, comprised of one tandem space in the front, two side-by-side spaces in a rear tuck-under area and 5 side-by-side spaces in a rear freestanding carport. The main electrical and subpanels are all Siemens brand. ADU OPPORTUNITIES The property contains both a large tuck-under parking area in the rear of the main building and a freestanding carport area. Buyers may want to explore the opportunity add ADUs in these area.