CA > Los Angeles
Los Angeles, CA 90035,1108 S Sherbourne Dr
Los Angeles, CA 90035,1108 S Sherbourne Dr
Los Angeles, CA 90035,1108 S Sherbourne Dr
4
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$2,400,000
Est. payment /mo
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6,310 SqFt
Active

1108 S Sherbourne Dr Los Angeles, CA 90035

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Joshua Shorter

Joshua Shorter

+1(702) 728-0089

UPDATED:

09/04/2024 07:09 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,310 sqft

Price per Sqft $380

MLS Listing ID 24-418331

Year Built 1955

Lot Size 6,400 Sqft

Acres 0.1469

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 Beverly Center-Miracle Mile

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating None

Cooling None

Equipment None

Exterior

Parking Features Covered Parking

Building

Story 2

Level or Stories Multi/Split

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap

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Joshua Shorter

RE.S.0191694

+1(702) 728-0089

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1108 S Sherbourne Dr