15-Bedroom Residential Income - 12003 Berendo Avenue, Los Angeles, CA

Description

We are pleased to offer for sale 12003 Berendo Avenue, a seven-unit apartment community located in the West Athens neighborhood of Los Angeles, one block west of Vermont Avenue at 120th Street.Built in 1963, the property comprises 4,901 square feet of improvements on a 7,828-square-foot parcel, with a unit mix of six two-bedroom units and one three-bedroom unit. There is approximately 14% rental upside remaining, capturable through ordinary turnover. The offering is priced at an 8.47 GRM on scheduled income, below the average of the recent comparable sales in the surrounding submarket.Vermont/Athens Station sits a half-mile north, where the Metro C Line meets the southern terminus of the planned Vermont Transit Corridor a 12.4-mile bus rapid transit line Metro approved in 2025 to run the length of Vermont Avenue into Hollywood. The 105 Freeway runs just north of the property, reaching LAX in about six miles and the 110 in one, while Martin Luther King, Jr. Community Hospital anchors employment three miles due east along 120th Street.12003 Berendo Avenue offers investors an opportunity to acquire a value-add asset in one of the better-connected transit pockets of South Los Angeles.PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.

Property details

Location

12003 Berendo Avenue • Los Angeles, CA 90044

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Listed by

Sean Rosenzweig · Marcus & Millichap