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1427 S Shenandoah St

Los Angeles, CA 90035
  • $1,700,000
  • STATUS: Active
  • ON SITE: 5 Days
  • MLS #: 22-156215
New On Site 5 Days Ago
UPDATED: 28 min ago
$1,700,000
  • 4
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,694
    SQFT
  • $631
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1930
County:

School Ratings & Info

Description

We are pleased to present 1427 S Shenandoah St -- a multifamily development opportunity located in the highly sought after Pico-Robertson District. This property allows a future investor to build up to 15 units utilizing the TOC Tier 2program or 8 units by right! This wood frame stucco building, built in 1930, consists of 2,694 SF of living area and is situated on a 6,499 SF lot zonedLAR3. Known for its distinct community feel, with shops and restaurants within easy walking distance, the Pico-Robertson neighborhood has become one of the most desirable real estate markets in Los Angeles. The subject property presents an incredible value-add opportunity for a savvy investor to renovate the units and bring rents up to market value or construct a new luxury apartment building. The Shenandoah Apartments boast a great unit mix of Two (2) Two Bedroom / One Bath units. In addition to providing tenants with Six (6) parking spaces (3 garage and 3 in the driveway), the building also has a washer and dryer upstairs with washer and dryer hookups downstairs. The current owner installed a beautiful oak wood staircase that connects the 2 units, turning this duplex into one large unit; however, a door separating the spaces allows a Buyer to rent the 2 units separately as well(Buyer to verify). In addition, the building's electrical systems were completely redone with two (2) separate panels. Lastly, a central HVAC, security system, and gated entry were also installed. With one of the largest concentrations of synagogues 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. 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 or building a luxury apartment building in a high rental demand area.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-18T21:42:57.743. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchdesertrealestate.com/homes/128657247
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1427 S Shenandoah St Los Angeles, CA 90035

  • Price: $1,700,000
  • Status: Active
  • On Site: 5 Days
  • Updated: 28 min ago
  • MLS #: 22-156215
4
Beds
0
Baths
0
½ Baths
0.15
Acres
2,694
SQFT
$631
$/SQFT
1930
Built
Neighborhood:
Beverlywood Vicinity
County:
Los Angeles
Area:
Beverlywood Vicinity
Property Description
We are pleased to present 1427 S Shenandoah St -- a multifamily development opportunity located in the highly sought after Pico-Robertson District. This property allows a future investor to build up to 15 units utilizing the TOC Tier 2program or 8 units by right! This wood frame stucco building, built in 1930, consists of 2,694 SF of living area and is situated on a 6,499 SF lot zonedLAR3. Known for its distinct community feel, with shops and restaurants within easy walking distance, the Pico-Robertson neighborhood has become one of the most desirable real estate markets in Los Angeles. The subject property presents an incredible value-add opportunity for a savvy investor to renovate the units and bring rents up to market value or construct a new luxury apartment building. The Shenandoah Apartments boast a great unit mix of Two (2) Two Bedroom / One Bath units. In addition to providing tenants with Six (6) parking spaces (3 garage and 3 in the driveway), the building also has a washer and dryer upstairs with washer and dryer hookups downstairs. The current owner installed a beautiful oak wood staircase that connects the 2 units, turning this duplex into one large unit; however, a door separating the spaces allows a Buyer to rent the 2 units separately as well(Buyer to verify). In addition, the building's electrical systems were completely redone with two (2) separate panels. Lastly, a central HVAC, security system, and gated entry were also installed. With one of the largest concentrations of synagogues 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. 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 or building a luxury apartment building in a high rental demand area.
Exterior Features

Lot Size Area 6499 Other Structures Other Parking Garage Garage - 3 CarDriveway Total Parking 6

Interior Features

Baths Total 2.00 Cooling Central Equipment Stackable W/D HookupWasherDryer Heating Central Laundry In Unit

Property Features

Assessed Total Value 809497 Gross Income 96000 Gross Operating Income 93120 Like Units1 1 Like Units2 1 Net Operating Income 58505.00 Number Of Buildings 1 Number Of Units 2 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 34615 Type Of Units 2+1 Year Built Source Assessor Zoning Lar3

Listing provided courtesy of Derrick Vartanian DRE#01816119 of Kw Advisors.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-18T21:42:57.743. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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74996 Highway 111
Indian Wells CA, 92210