1421 S Shenandoah St, Los Angeles CA 90035

OFFERING PRICE: $2,900,000

SELLER MAY CARRY THE FINANCING! MVP Commercial Investment Real Estate of KW Commercial is pleased to present the Shenandoah Apartments – a six (6) unit multifamily investment opportunity located in the highly sought after Pico-Robertson District. Known for its distinct community feel and positioning amongst affluent neighborhoods, the Pico-Robertson neighborhood has become one of the most
desirable real estate markets in Los Angeles. Nestled between Beverly Hills, Culver City, and Beverlywood, the small and tight-knight community has become a millennial magnet. This wood frame stucco building, built in 1956, consists of 5,894 SF of living area and is situated on a 6,499 SF lot zoned [Q]R3-1-O located in a Tier 3 TOC zone, which a Developer could build on now or in the future.

The subject property presents an incredible value-add opportunity (49% in potential rental upside) for an investor to renovate the units and bring rents up to market value. The Shenandoah Apartments boast a phenomenal unit mix of Two (2) One Bedroom / One Bath units, One (1) Two Bedroom / One Bath unit, One (1) Two Bedroom / One and a Half Bath unit, One (1) Two Bedroom / Two Bath unit, and One (1) Three Bedroom / Two Bath unit. In addition to providing tenants with Twelve (12) parking spaces, the building also has an on-site laundry room with Seller owned washer and dryer units.

The current owner has taken great care of the property and each unit comes with newer appliances, a dish washer, hard wood and tile flooring, and self cleaning ovens. In addition to its high rental desirability, the building also has gated entry and a communal BBQ area for the tenant’s enjoyment.

With one of the largest concentrations of places of worship in the city, and as the home of important institutions like the Simon Wiesenthal Center and the Museum of Tolerance, Pico-Robertson continues to play a central role in the diversification of Los Angeles. The Shenandoah Apartments are surrounded by some of the city’s major boulevards, including Robertson and Pico, Olympic, Venice, and La Cienega. With exceptional location in the Pico-Robertson neighborhood, a highly desirable area in Los Angeles that is located closely to the Beverly Grove, Sunset Strip, and Beverly Hills,
a strategic investor will have no problem leasing the units in a high rental demand area and will enjoy a pride of ownership property that will run at maximum potential.

INVESTMENT HIGHLIGHTS

  • SELLER MAY CARRY FINANCING
  • Exceptional Unit Mix: One (3BR + 2BA), One (2BR + 2BA), One (2BR + 1.5BA), Two (1BR +1 BA)
  • Incredible Value-Add Opportunity | 49% Potential Rental Upside
  • Owned On-Site Laundry | Gated Entry | Communal BBQ Area
  • Twelve (12) Parking Spaces
  • Dishwasher in Each Unit | Hardwood & Tile Floors | Self-Cleaning Ovens

LOCATION HIGHLIGHTS

  • Prime Pico-Robertson District Location
  • A Walkers Paradise – Boasts a Walk Score of 93!
  • Located in a Tier 3 TOC Zone
  • High Rental Demand Area | Average Household Income of $117,000
  • Large Concentration of Walkable Places of Worship
  • Close Proximity to Beverly Grove, Rancho Park, West Hollywood & Beverly Hills

MVP Commercial Investment Real Estate does not guarantee the accuracy of square footage, lot size or other information concerning the condition or features of the property provided by the seller or obtained from public records or other sources and the buyer is advised to independently verify the accuracy of that information through personal inspection with appropriate licensed professionals. If your home is currently listed with another broker, this is not intended to solicit that listing. CalBRE 01816119, 01483131.

MVP2015