532 N Berendo Street, Los Angeles, California 90004, Los Angeles, 90004 - bed, bath
ACTIVE$1,689,000
532 N Berendo Street, Los Angeles, California 90004
0Bed
0Bath
3,428Sqft
7,505Lot
Year Built
1908
Close
-
List price
$1.69M
Original List price
$1.75M
Price/Sqft
$493
HOA
-
Days on market
-
Sold On
-
MLS number
SR24220787
Home ConditionExcellent
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.69M(67th), sqft - 3428(50th), beds - undefined(50th), baths - undefined(50th).
INVESTORS DREAM with a MOTIVATED SELLER and THREE out for 4 UNITS ARE BEING DELIVERED VACANT!!! This is a 4 fully remodeled units w about 10 parking spots. It has been used and rented always with long term tenants thanks to the nearby school and hospital with many travel nurses as an AIRBNB with an income of average $3500/ month per unit. This is the best deal in town with motivated seller and any reasonable offer will be considered. SO SUBMIT YOUR OFFER TODAY!
Price History
Date
Event
Price
06/06/17
Sold
$825,000
11/06/97
Sold
$150,000
Condition Rating
Excellent
Despite the 1908 build year, the listing explicitly states '4 fully remodeled units,' and the images strongly support this claim. The kitchens feature modern flat-panel or shaker-style cabinets, new stainless steel appliances (refrigerator, gas range, microwave, dishwasher), contemporary countertops, and stylish backsplashes. Bathrooms are equally updated with modern vanities, fixtures, and clean shower enclosures. Throughout the units, there is consistent luxury vinyl plank (LVP) flooring and recessed lighting, indicating a comprehensive and recent renovation. While one unit shows a window AC unit, which is not ideal, the overall quality, style, and newness of the interior components in all visible areas meet current standards and appear to have been renovated within the last 5 years, qualifying the units as excellent in condition.
Pros & Cons
Pros
Significant Income Potential: The property is marketed as an 'INVESTORS DREAM' with an average Airbnb income of $3500/month per unit, indicating strong cash flow potential.
Immediate Vacancy & Flexibility: Three out of four units are being delivered vacant, offering immediate opportunities for owner-occupancy, re-tenanting at market rates, or continued short-term rental operations.
Fully Remodeled Units: All four units have been fully remodeled, reducing immediate capital expenditure for a new owner and enhancing tenant appeal.
Ample Off-Street Parking: The property includes approximately 10 parking spots, a significant advantage in a dense urban area like Los Angeles, adding value and convenience for tenants.
Strategic Location & Tenant Pool: Proximity to a nearby school and hospital ensures a consistent demand from long-term tenants and travel nurses, ideal for both traditional and short-term rentals.
Cons
Age of Property: Built in 1908, despite being remodeled, the property's age suggests potential for underlying infrastructure issues (e.g., plumbing, electrical, foundation) that may not have been fully addressed.
Lack of Detailed Renovation Scope: While 'fully remodeled' is stated, the description lacks specifics on the extent of renovations (e.g., structural, electrical, plumbing upgrades), which could lead to unforeseen future expenses.
Airbnb Regulatory Risk: High reliance on Airbnb income carries risk due to evolving short-term rental regulations in Los Angeles, which could impact future profitability and operational flexibility.