Property Detail

Description

Situated south of Beverly Boulevard between Normandie Avenue and Vermont Avenue, the property benefits from a premier infill location characterized by strong rental demand, walkability, and convenient access to public transportation and neighborhood amenities. The property features a diverse unit mix consisting of a spacious fully renovated 3-bedroom/2-bath front house with a charming garden area, four singles, four bachelor units, and a newly constructed 1-bedroom/1-bath ADU that is currently vacant. The ADU was thoughtfully converted from the on-site garage, providing immediate income potential or the flexibility for an owner-user component. The front house is individually metered, offering operational efficiency and expense controladvantages.122 S Berendo Street boasts a Walk Score of 92 ("Walker's Paradise"), allowing residents to accomplish daily errands without a vehicle. The property is approximately a nine minute walk to the Vermont/Beverly Station serving the Metro B Line (Red Line), providing convenient connectivity to Downtown Los Angeles, Hollywood, and the greater metropolitan area. Nearby recreational amenities include Shatto Recreation Center, Lafayette Park, and the South Serrano Avenue Historic District, further enhancing the property's residential appeal. From an investment perspective, the asset presents significant rental upside in a supply-constrained and high-demand submarket. As units turn over, an investor has the opportunity to reposition rents to market levels and further enhance cash flow. Additionally, ownership has begun implementing a Utility Reimbursement Program(RUBS), with over 60% tenant enrollment to date, creating the ability to recapture a meaningful portion of rising utility expenses and improve operating margins.122 S Berendo Street represents a compelling value add opportunity for investors seeking a well-located multifamily asset with immediate upside potential, operational efficiencies, and long-term appreciation prospects in one of Los Angeles' most dynamic rental markets