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Listed by Lauren Cearley • Myunits.com Inc.
$2,550,000
Est. payment /mo
6,422 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 6,422 sqft
Price per Sqft $397
MLS Listing ID BB-26091845
Year Built 2021
Lot Size 6,216 Sqft
Property Sub-Type Quadruplex
Source California Regional Multiple Listing Service (CRMLS)
Property Description
1121 N Berendo St is a 2021-built fourplex in Virgil Village (Silver Lake adj.), East Hollywood offering a strong 5.52% cap rate, four years of proven rental history, and a 100% stabilized income stream. The property features a desirable mix of three 3 bedroom units and one 2 bedroom unit, all separately metered with private balconies, in-unit laundry, and modern, easy-to-maintain finishes. Floor plans are noticeably larger than typical brand new construction in the area, with kitchen islands, generous living rooms, and oversized bedrooms and massive walk-in closets that support long-term tenant retention and consistently low vacancy. While many newer builds squeeze in extra bedrooms at the expense of livability, these layouts offer real space and comfort, contributing to strong performance over the last four years. This is a straightforward, low-expense rental asset in one of LA's fastest-growing Eastside submarkets minutes from Silver Lake and Los Feliz. Current market rents are $3,995, $3,995, $3,800, and $3,500 (2 bed) monthly. Strong occupancy since 2021 reinforces the property's reliability for long-term income. Surrounded by Michelin Guide recognized restaurants including Saffy's, Found Oyster, Budonoki, and Courage Bagels, and just moments from Erewhon and Silver Lake, 1121 N Berendo sits in a highly walkable, supply-constrained rental pocket. Its proximity to Hollywood, Los Feliz, and major job hubs such as Netflix HQ,Paramount Studios, Kaiser Hospital, and Sunset & Gower Studios attracts a stable renter base seeking newer construction with top Eastside amenities and nightlife. With its proven operating history, desirable unit mix, larger and more functional layouts, and prime Virgil Village (SilverLake adj.) location, 1121 N Berendo offers a rare opportunity to secure a dependable, income-producing asset in one of Los Angeles's most in-demand rental markets!
Location
State CA
County Los Angeles
Area C20 - Hollywood
Interior
Heating Central
Fireplaces Type None
Laundry Dryer Included, Electric Dryer Hookup, Inside, Washer Hookup, Washer Included
Exterior
Garage Spaces 2.0
Pool None
Community Features Sidewalks, Street Lights
Building
Lot Description Landscaped, Back Yard
Sewer Public Sewer
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Nearby Locations
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900