1184 N Berendo Street, Los Angeles, California 90029, Los Angeles, 90029 - bed, bath
ACTIVE$2,600,000
1184 N Berendo Street, Los Angeles, California 90029
0Bed
0Bath
7,864Sqft
7,815Lot
Year Built
1958
Close
-
List price
$2.6M
Original List price
$2.75M
Price/Sqft
$331
HOA
-
Days on market
-
Sold On
-
MLS number
AR24248488
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $2.60M(50th), sqft - 7864(50th), beds - undefined(50th), baths - undefined(50th).
PRICE IMOPROVEMENT!!! SELLER MOTIVATED TO SELL! Prime Corner Lot Investment Opportunity – 1184 N Berendo Street, Los Angeles. Exceptional 10-unit apartment building in East Hollywood, just two blocks from Sunset Blvd. With a proforma CAP rate of 8.5%+, this value-add opportunity features 7,864 SF of living space on a 7,815 SF corner lot. The unit mix includes (8) 1B+1B, (1) 2B+1B, and (1) 2B+2B, with one vacancy and nine parking spaces. Centrally located near Larchmont Village, Koreatown, and Downtown LA, this property benefits from its proximity to top employers (Netflix, Kaiser, Paramount) and major retailers (Ralphs, Starbucks). Easy freeway access and strong rental demand make it a standout investment in a highly desirable area. SELLER WILL LISTEN TO ALL REASONABLE OFFERS!
Nearby schools
/10
Lexington Avenue Primary Center
Public,•K-2•0.3mi
3/10
Ramona Elementary School
Public,•K-6•0.4mi
4/10
Lockwood Avenue Elementary School
Public,•K-6•0.4mi
5/10
Kingsley Elementary School
Public,•K-5•0.5mi
7/10
Los Feliz STEMM Magnet
Public,•K-6•0.6mi
6/10
Dayton Heights Elementary School
Public,•K-5•0.8mi
4/10
Alexandria Avenue Elementary School
Public,•K-5•1.1mi
4/10
Grant Elementary School
Public,•K-6•1.2mi
3/10
Harvard Elementary School
Public,•K-5•1.3mi
7/10
Dr. Sammy Lee Medical And Health Science Magnet Elementary
Public,•K-5•1.4mi
4/10
Frank Del Olmo Elementary School
Public,•K-6•1.4mi
6/10
Van Ness Avenue Elementary School
Public,•K-5•1.6mi
5/10
Cahuenga Elementary School
Public,•K-5•1.7mi
6/10
Charles H. Kim Elementary School
Public,•K-5•1.8mi
6/10
Thomas Starr King Middle School
Public,•6-8•0.8mi
5/10
Virgil Middle School
Public,•6-8•1.3mi
3/10
Joseph Le Conte Middle School
Public,•6-8•1.4mi
4/10
Young Oak Kim Academy
Public,•6-8•2.1mi
7/10
John Burroughs Middle School
Public,•6-8•3.2mi
4/10
Helen Bernstein High School
Public,•9-12•1.2mi
8/10
John Marshall Senior High School
Public,•9-12•1.4mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•2.3mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•2.3mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•2.3mi
6/10
Hollywood Senior High School
Public,•9-12•2.6mi
3/10
Belmont Senior High School
Public,•9-12•2.8mi
7/10
Fairfax Senior High School
Public,•9-12•3.9mi
Price History
Date
Event
Price
11/25/25
Price Change
$2,600,000
12/30/24
Listing
$2,750,000
02/18/22
Sold
$2,000,000
Condition Rating
Poor
Built in 1958, this property is explicitly marketed as a 'value-add opportunity' requiring 'significant capital expenditure on renovations, system upgrades, and deferred maintenance,' as well as 'substantial investment in unit modernizations.' The exterior images show an aged building with dated features and wear. While no interior photos are provided, the description strongly implies that kitchens, bathrooms, and other interior components are outdated and require extensive rehabilitation to meet current standards and achieve the projected proforma CAP rate. This aligns with the 'poor' condition criteria, indicating substantial repairs and rehabilitation are needed.
Pros & Cons
Pros
Prime East Hollywood Location: Strategically situated on a corner lot, two blocks from Sunset Blvd, offering excellent access to major employment hubs (Netflix, Kaiser, Paramount), retail, and vibrant neighborhoods like Larchmont Village and Koreatown, driving strong rental demand.
High Proforma CAP Rate & Value-Add Potential: An attractive proforma CAP rate of 8.5%+ highlights significant upside for investors through strategic renovations and rent optimization, positioning it as a strong value-add opportunity.
Motivated Seller & Price Improvement: The recent price reduction and explicit seller motivation ('SELLER MOTIVATED TO SELL!', 'SELLER WILL LISTEN TO ALL REASONABLE OFFERS!') create a favorable negotiation environment for potential buyers.
Ample On-Site Parking: The provision of nine parking spaces for a 10-unit building is a substantial asset in a dense urban market like Los Angeles, enhancing tenant appeal and retention.
Diverse Unit Mix: The property features a practical unit mix of (8) 1B+1B, (1) 2B+1B, and (1) 2B+2B, appealing to a broad range of renters and offering flexibility in rental strategies.
Cons
Age and Implied Condition: Built in 1958, the property's age, coupled with its 'value-add opportunity' designation, strongly suggests the need for significant capital expenditure on renovations, system upgrades, and deferred maintenance to achieve its full potential.
Current Vacancy & Immediate Income Loss: One vacant unit represents immediate lost income and requires the new owner to either fill it quickly or undertake renovations before re-tenanting, impacting initial cash flow and requiring upfront investment.
Potential for High Renovation Costs: Realizing the advertised proforma CAP rate will likely necessitate substantial investment in unit modernizations and common area improvements, which could entail significant upfront costs and project management complexities for the buyer.