1184 N Berendo St · Los Angeles, CA 90029

$2,300,000

None bd · 110.0 ba · 7,864 sqft · MultiFamily · 538 Days on market

Built 1958 Excellent condition 7,815 sqft lot $292/sqft · 11% above area Est $2066k · 11% over ↓ 18% since listing

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.4/30.0
• DSCR +5.1/10.0
• Condition / age +4.8/5.0
• 1% rule +4.5/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• ARV discount +2.4/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

PRICE IMPROVEMENT!!! Price Reduced to $2,300,000, this 10-unit property offers strong upside potential for investors. Don’t miss your chance to acquire a multi-unit asset at an improved price—ideal for income growth and long-term appreciation. This 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!

Key facts

• Living space
• Parking spaces
• Easy freeway access

Tags

• CORNER LOT
• 10 UNIT APARTMENT BUILDING
• LIVING SPACE
• PARKING SPACES
• PROXIMITY TO TOP EMPLOYERS
• EASY FREEWAY ACCESS

What this means for you Summary

Snapshot

• This is a 8×1bd/1ba + 1×2bd/1ba + 1×2bd/2ba units multifamily listed at $2.30M. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $130/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.18M (5.3% below list).
• Recommended offer: $2.02M (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 2.1% in Los Angeles — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#273 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B; Watch: health & safety C-, schools D+, crime F.
• Los Angeles Unified (urban): math 29% / reading 54% proficiency, ranked #223 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 77 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $21,771/mo this rent would consume 432% of the median local household income ($60k/yr) (locally 3614% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $16k of loan paydown is wiped out by about $69k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 538 days — a 12% lower offer ($2.02M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $450k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,024,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 538 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
11. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.43%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

• ARV (median comp): $2,065,520
• List price: $2,300,000
• Delta: 11.35%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4886 Lexington Ave	0.12mi	8/8.0	7,740 (-2%)	16mo	$1,410,000	$182	58
4038 Marathon St	0.69mi	8/10.0	7,767 (-1%)	3mo	$1,500,000	$193	44
954 N Kingsley Dr	0.65mi	21/21.0	8,278 (+5%)	8mo	$3,725,000	$450	34
966 Sanborn Ave	0.72mi	12/10.0	7,821 (-0%)	15mo	$3,925,000	$502	33
646 N Madison Ave	0.75mi	16/10.0	7,134 (-9%)	1mo	$2,300,000	$322	29
5322 Virginia Ave	0.69mi	—/99.0	7,459 (-5%)	14mo	$1,975,000	$265	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.19% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.46×
• Total profit: $-349,172
• Equity at exit: $342,937

10-year hold

• IRR: -13.0%
• Equity multiple: 0.34×
• Total profit: $-428,005
• Equity at exit: $198,862

Cash invested: $644,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Los Angeles: 0 Strongly Tenant-Friendly · D+22

LARSO + JCEO 2023; relocation for substantial remodel evictions.

Methodology + full state rankings →

ZIP-level market 90029

• Rents YoY: 0.2%
• Active inventory: 77
• Price-to-rent: 89.9×

Monthly cashflow live

• Estimated rent: $21,771 high
• Mortgage (P&I): −$12,061
• Tax est. 1.5%: −$2,875 /mo · $34,500/yr
• Insurance: −$958
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,572
• Net cashflow: $1,304

Break-even live

Break-even rent $20,120

Max offer price $2,300,000

Occupancy floor 89%

Sensitivity live

Price	-10% $2,894	-5% $2,099	+0% $1,304	+5% $510	+10% $-285
Rent	-10% $-416	-5% $444	+0% $1,304	+5% $2,164	+10% $3,024
Rate	-1.0pp $2,463	-0.5pp $1,889	base $1,304	+0.5pp $708	+1.0pp $102

10-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 8× units	1	1	$17,048
1× unit	2	1	$2,362
1× unit	2	2	$2,362
Total (10 units)			$21,771

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $575,000
• Closing costs: $69,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1626 N Kingsley Dr Unit 6 Los Angeles, CA	2.0	1.0	6128	$2,350	$0.38	44d	1	0.74mi
5654 La Mirada Ave Los Angeles, CA	1.0	1.0	9424	$1,250	$0.13	25d	1	1.08mi
4826 Rosewood Ave Unit 5 Los Angeles, CA	2.0	2.0	9200	$2,300	$0.25	25d	1	1.34mi

Listing history 22 events

1. 2026-06-21
   days on market $2,300,000 Active 538 DOM
2. 2026-06-18
   days on market $2,300,000 Active 535 DOM
3. 2026-06-17
   days on market $2,300,000 Active 534 DOM
4. 2026-06-16
   days on market $2,300,000 Active 533 DOM
5. 2026-06-15
   days on market $2,300,000 Active 532 DOM
6. 2026-06-13
   days on market $2,300,000 Active 530 DOM
7. 2026-06-09
   days on market $2,300,000 Active 526 DOM
8. 2026-06-08
   days on market $2,300,000 Active 525 DOM
9. 2026-06-07
   days on market $2,300,000 Active 524 DOM
10. 2026-06-04
    days on market $2,300,000 Active 521 DOM
11. 2026-06-03
    days on market $2,300,000 Active 520 DOM
12. 2026-06-02
    days on market $2,300,000 Active 519 DOM
13. 2026-06-01
    days on market $2,300,000 Active 518 DOM
14. 2026-05-31
    days on market $2,300,000 Active 517 DOM
15. 2026-04-15
    price $2,300,000 922-char remark

    Show marketing remark (922 chars)

    PRICE IMPROVEMENT!!! Price Reduced to $2,300,000, this 10-unit property offers strong upside potential for investors. Don’t miss your chance to acquire a multi-unit asset at an improved price—ideal for income growth and long-term appreciation. This 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!

16. 2025-01-22
    price $2,600,000 922-char remark

    Show marketing remark (922 chars)

    PRICE IMPROVEMENT!!! Price Reduced to $2,300,000, this 10-unit property offers strong upside potential for investors. Don’t miss your chance to acquire a multi-unit asset at an improved price—ideal for income growth and long-term appreciation. This 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!

17. 2024-12-30
    listed $2,750,000 Active 922-char remark

    Show marketing remark (922 chars)

    PRICE IMPROVEMENT!!! Price Reduced to $2,300,000, this 10-unit property offers strong upside potential for investors. Don’t miss your chance to acquire a multi-unit asset at an improved price—ideal for income growth and long-term appreciation. This 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!

18. 2024-04-03
    historical
19. 2024-02-29
    listed $2,950,000 Active
20. 2023-12-15
    historical
21. 2023-08-17
    price $2,400,000
22. 2023-07-14
    listed $2,800,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 56% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥92°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $261,252
• − Mortgage interest: −$128,836
• − Property taxes: −$34,500
• − Insurance: −$11,500
• − Repairs & maintenance: −$20,900
• − Management: −$20,900
• − Depreciation: −$66,909
• Taxable loss: −$22,293
• Est. tax savings @ 24.0%: +$5,350
• After-tax cash flow: $21,002/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 1 photo

Excellent 95/100 None rehab

This 10-unit multi-family property in East Hollywood is in excellent condition with a well-maintained exterior and interior. It offers strong upside potential for investors looking to capitalize on its location and unit mix.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the property's aesthetic and appeal to potential buyers and renters.
• Both Interior updates to common areas — Improves the overall look and feel of the property, attracting more tenants and buyers.
• Both Painting and minor repairs to units — Maintains the property's appearance and ensures a move-in ready condition for tenants and buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the property's aesthetic and appeal to potential buyers and renters. ↑
• Both Interior updates to common areas — Improves the overall look and feel of the property, attracting more tenants and buyers. ↑
• Both Painting and minor repairs to units — Maintains the property's appearance and ensures a move-in ready condition for tenants and buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Los Angeles Unified
• NCES district ID: 0622710
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 54% ▲ 10.00%
• Median HH income: $50,403
• Composite: 35.67/100
• National rank: #4875
• State rank: #223 of 517 in CA

Livability — Los Angeles

• Score: 68/100
• State rank: #273
• US rank: #9237

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B Housing B- Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Angeles, CA
• County: Los Angeles County · 9,444,647 people
• City population: 3,838,149
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 33,303
• Household income: $60,440
• Rent vs Own: 89.7% rent · 10.3% own
• Severe rent burden: 3614.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 49% White 27% Asian 17% Two or more races 10% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Scotch-Irish 1% Romanian 1% Slovak 1%
• Foreign-born: 49% · Canada, China, South Korea
• Languages at home: 33% English-only · Spanish 45% Tagalog/Filipino 9% Other Indo-European 6%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -292.27%
• Current HPI: 451.0593
• Rent YoY: ▲ 0.19%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

-17.9% since first listed

8 events — show timeline

• 2026-04-15 Price Changed $2,300,000 CRMLS
• 2025-01-22 Price Changed $2,600,000 CRMLS
• 2024-12-30 Listed $2,750,000 CRMLS
• 2024-04-03 Listing Removed — CRMLS
• 2024-02-29 Listed $2,950,000 CRMLS
• 2023-12-15 Listing Removed — CRMLS
• 2023-08-17 Price Changed $2,400,000 CRMLS
• 2023-07-14 Listed $2,800,000 CRMLS