743 S. Berendo Street represents an opportunity to acquire a stabilized, well-performing multifamily asset in Prime Koreatown, ideally located one block south of Wilshire Boulevard and just two blocks from the Wilshire/Vermont Metro Station. The property benefits from a 94 Walk Score (“Walker’s Paradise”), offering residents exceptional walkability to neighborhood retail, dining, and transit, key drivers of sustained rental demand in this submarket. Offered at an asking price of $2,950,000, the property is currently priced at a 7.70% cap rate and 8.50 GRM, providing solid going-in returns in one of Los Angeles’ most supply-constrained rental markets. The asset supports favorable financing assumptions, including approximately 70% loan-to-value at an estimated 6.00% interest rate and a healthy 1.2 debt coverage ratio, resulting in approximately 8.88% cash-on-cash return on current operations. With continued rent growth to market levels, the property projects to an 8.14% pro forma cap rate and 7.83 GRM, offering meaningful upside while maintaining operational stability.
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