11513 Berendo

Description

11513 Berendo Ave presents a rare opportunity to acquire a highyield, value-add multifamily asset with a clear path to a projected10.45% cap rate upon completion.The property consists of (4) spacious 3 Bed / 2 Bath units, with twounits delivered vacant—providing immediate upside throughlease-up while development plans are executed.Situated on a large 11,492 SF lot, the offering includes fully approvedplans for (4) additional 3 Bed / 2 Bath townhome-style ADUsaveraging approximately 1,200 SF each. This allows an investor tosignificantly increase unit count and income, transforming theasset into an 8-unit property with strong economies of scale.Based on the approved ADU development and projected rents, theproperty is expected to achieve a 10.45% cap rate inclusive ofconstruction costs, making it a standout opportunity for investorsseeking both yield and growth in today’s market.In the interim, simply leasing the remaining vacant units stabilizesthe existing asset at a 7.57% cap rate and 10.08 GRM—providingstrong in-place returns while the development upside is realized.Located in South Los Angeles, the property offers convenientaccess to Downtown Los Angeles, USC, and major employmentcorridors, supporting long-term rental demand and futureappreciation.