700 S Berendo Street, Los Angeles, CA 90005

$9,700,000
38
BD
38
BA
19,370
SqFt
List Price
$9,700,000
Status
ACTIVE
MLS#
23235617
Year Built
1989
Bedrooms
38
Bathrooms
38
Living Sq. Ft
19,370
Lot Size
8,887
Acres
0.20
Days on Market
4
Property Type
Multifamily

Property Description

Built in 1989, not subject to LA Rent Control. Significant (20%) upside in rents that can be raised up to 10%/year. 14.1 x Gross & 4.4% cap with existing rents. 11.7 x Gross & 5.7% cap with rents at market. Existing loan is $5,500,000 at 3.25% fixed until 8/1/26, payable interest only until 8/1/23, due 8/1/2051. 4% cash on cash return at closing; 7.3% cash on cash with rents at market.

Additional Information

Appliances
Dishwasher
Attached Structure
Detached
Number Of Units Total
27

Listing courtesy of Listing Agent: Hamid Soroudi (hsoroudi@kw.com) from Listing Office: Keller Williams Beverly Hills.

Mortgage Calculator

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Calculator source: Real Geeks

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.