1050 S Berendo Street, Los Angeles, California 90006, Los Angeles, 90006 - bed, bath
ACTIVE$1,199,999
1050 S Berendo Street, Los Angeles, California 90006
0Bed
0Bath
2,784Sqft
5,906Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Koreatown Location: Located in the heart of Koreatown, a rapidly growing neighborhood with excellent walkability to amenities like markets, schools, and public transportation, ensuring high tenant demand.
Top Cons:
Historic Property Age: Built in 1895, the property is over a century old, which may necessitate significant capital expenditures for system upgrades, deferred maintenance, or unforeseen repairs.
Compared to the nearby listings
Price:$1.20M vs avg $1.14M (+$59,999.5)50%
Size:2,784 sqft vs avg 3,174 sqft50%
Price/sqft:$431 vs avg $36750%
More Insights
Built in 1895 (130 years old).
Condition: Built in 1895, this multi-unit property is 129 years old with no evidence of major renovations in the last 30-50 years. The exterior shows significant deferred maintenance with peeling paint and worn siding. Interiors feature very basic, dated finishes, including old light fixtures, wall heaters, and window AC units, indicating a complete lack of central HVAC. While currently occupied, the property requires substantial repairs and rehabilitation to its major components and systems to meet modern living standards, aligning with the 'Poor' condition criteria.
Year Built
1895
Close
-
List price
$1.2M
Original List price
$1.2M
Price/Sqft
$431
HOA
-
Days on market
-
Sold On
-
MLS number
MB25165321
Home ConditionPoor
Features
Deck
Patio
View-
About this home
Located in the heart of Korea Town this Charming 5 -unit Commercial complex features a great mix of residential properties amongst three separate structures on a High Density R-4-1 Zone with Upside potential . Four Bungalow style homes approximately 450 sq ft each and a Large 2 bedroom 1 bath Craftsman house at rear boasting approximately 1,128 sq ft of living space . Amenities include a large basement at rear that owner uses as a rumpus room /Office and work shed , plenty of common area for tenants and low maintenance on landscaping . These units are Fully occupied providing immediate rental income for the savvy investor . Property boast a competitive cap rate of 5.5% reflecting a strong income potential and investment viability in a rapidly growing neighborhood. Half a block south of Olympic blvd. within walking distance of Hannam chain market , Berendo Highschool and public transportation just to name a few
Nearby schools
/10
Mariposa-Nabi Primary Center
Public,•K-2•0.3mi
3/10
Leo Politi Elementary School
Public,•K-5•0.4mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•0.5mi
3/10
Magnolia Avenue Elementary School
Public,•K-6•0.6mi
8/10
Hoover Street Elementary School
Public,•K-5•0.6mi
3/10
Hobart Boulevard Elementary School
Public,•K-5•0.7mi
3/10
Los Angeles Elementary School
Public,•K-5•0.7mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•0.9mi
2/10
Tenth Street Elementary School
Public,•K-5•1.2mi
4/10
Norwood Street Elementary School
Public,•K-5•1.4mi
5/10
Vermont Avenue Elementary School
Public,•K-5•1.4mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.5mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•1.7mi
3/10
Berendo Middle School
Public,•6-8•0.1mi
3/10
John H. Liechty Middle School
Public,•6-8•1.4mi
5/10
Pio Pico Middle School
Public,•6-8•1.5mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•2.0mi
4/10
John Adams Middle School
Public,•6-8•2.3mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•0.6mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•0.6mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•0.6mi
4/10
West Adams Preparatory High School
Public,•9-12•0.8mi
3/10
Belmont Senior High School
Public,•9-12•1.9mi
5/10
Foshay Learning Center
Public,•K-12•2.3mi
5/10
Santee Education Complex
Public,•9-12•2.4mi
3/10
Nava College Preparatory Academy
Public,•9-12•3.8mi
Price History
Date
Event
Price
03/12/08
Sold
$550,000
Condition Rating
Poor
Built in 1895, this multi-unit property is 129 years old with no evidence of major renovations in the last 30-50 years. The exterior shows significant deferred maintenance with peeling paint and worn siding. Interiors feature very basic, dated finishes, including old light fixtures, wall heaters, and window AC units, indicating a complete lack of central HVAC. While currently occupied, the property requires substantial repairs and rehabilitation to its major components and systems to meet modern living standards, aligning with the 'Poor' condition criteria.
Pros & Cons
Pros
Prime Koreatown Location: Located in the heart of Koreatown, a rapidly growing neighborhood with excellent walkability to amenities like markets, schools, and public transportation, ensuring high tenant demand.
Strong Income-Generating Asset: A fully occupied 5-unit complex providing immediate rental income with a competitive 5.5% cap rate, indicating robust investment viability.
High-Density R-4-1 Zoning: The R-4-1 zoning offers significant upside potential for future development or expansion, enhancing long-term value and flexibility.
Diverse Unit Mix: Comprising four bungalow-style units and a larger 2-bedroom Craftsman house, the property offers a diversified income stream and caters to a broader tenant base.
Functional On-Site Amenities: Includes a large basement used as a rumpus room/office/work shed and ample common area, adding value and convenience for tenants.
Cons
Historic Property Age: Built in 1895, the property is over a century old, which may necessitate significant capital expenditures for system upgrades, deferred maintenance, or unforeseen repairs.
Small Unit Footprints: Four of the five units are small bungalow-style homes (approx. 450 sq ft), potentially limiting the tenant pool or achievable rental rates compared to larger units.
Mixed-Use Complexity: Described as a 'Commercial complex' with residential units, this mixed-use nature might introduce specific commercial regulations, financing challenges, or management complexities not typically associated with purely residential investments.