1108 S Sherbourne DR Active

Los Angeles,CA 90035

$ 2400000

0 Bed

0 Bath

6310 SqFt


Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,310 sqft

Price per Sqft $380

MLS Listing ID 24418331

HOA Y/N No

Year Built 1955

Lot Size 6,398 Sqft

Property Description

1108 S Sherbourne Dr is located in the highly coveted PicoRobertson submarket. This premier Los Angeles neighborhood attracts highendrenters with a consistently low vacancy rate and steady rent growth.The property consists of seven units, including four one-bedrooms and threetwo-bedrooms, all with parking. The soft story retrofit has been completed.This is a true value-add opportunity, with most rents below market levels. Theproperty is offered at $342,857per unit and $380 PSF, with over 27% rentalupside. The property has been well maintained throughout the years, fourunits have been renovated with new kitchen countertops, backsplash, andstainless-steel sinks; mini split AC units have been installed in most of theapartments; value can be added with further interior renovations thatcould enhance rents including recessed lighting, updated bathrooms,new appliances, and high-quality vinyl flooring. The neighborhoodexhibits a significant affordability gap between renting and homeownership, with median home values exceeding $1 million and averagehousehold incomes of $124,520 within a two-mile radius. Pico-Robertson is an established Los Angeles community known for itswalkability, offering numerous amenities within a half-mile radius,including high-end retail options. The property has a walk score of86 and is conveniently located near S La Cienega, W Pico, and WOlympic Blvd.

Location

State CA

County Los Angeles

Area C19 - Beverly Center-Miracle Mile

Zoning LAR3

Interior

Heating None

Cooling None

Fireplace No

Exterior

Parking Features Covered

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 4332023002

Special Listing Condition Standard

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