1534 S Shenandoah Street
Los Angeles, CA 90035
- – beds
- – baths
- – sqft
- 13,006 sqft lot
- 1964 build
- – on site
The property being offered boasts strong in-place financials, highlighted by an attractive CAP rate of 5.33%. The diligent maintenance and upgrades carried out by the owners have consistently increased rents and enhanced the property's income. Their exceptional care and style in turning units as tenants moved out have demonstrated significant potential for further growth through similar strategies. Additionally, the costly and complex earthquake soft-story retrofit and the addition of four ADUs have further enhanced the property's appeal. A new owner can continue to capitalize on the utility bill-back potential as units are turned. Currently, 13 out of 20 units (65%) are on this program, which allows for a fair distribution of utility expenses among tenants based on usage. This beneficial strategy can help transfer utility costs to tenants, thereby increasing the NOI and cash flow over time. The property features a desirable unit mix, comprising eleven 1+1 units, four 2+2 units, one 2+1.5 unit, three 1+1 ADUs, and one Studio+1 ADU. This variety diversifies risk, appeals to a broader range of tenants, and enhances the property's long-term value, ensuring a more stable and profitable investment. Located at 1534 Shenandoah, the property is in the highly desirable Pico-Robertson neighborhood. It offers central access to the Westside, with proximity to major employment centers in Century City and Santa Monica, and is just a 1-mile drive from downtown Culver City, known for its vibrant entertainment and dining options. Ample parking is available, with space for up to 24 vehicles. The front of the property accommodates up to 16 vehicles, including eight tandem spots, while the side of the property provides room for seven more cars, comprising three tandem spaces and one single space. The property is situated in an affluent area with great demographics. The average household income within a 1-mile radius is $131,284, and within a 3-mile radius, it is $133,795. These strong financials, strategic utility management, desirable unit mix, prime location, ample parking, and favorable demographics make this property a highly attractive investment opportunity.
Last checked:
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Last updated Nov 8, 2024
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MLS# 24422107 —
The Building
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Year Built:1964
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New Construction:No
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Building Area Total:15326.00
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# of Buildings:1
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Total Number Of Units:20
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Stories Total:1
Interior
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Levels:Two
Location
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Directions:Near cross streets S Shenandoah and Pickford St.
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Latitude:34.05067100
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Longitude:-118.38178200
The Property
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Property Type:Residential Income
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Zoning:LAR3
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Lot Size Area:13006.0000
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Lot Size Acres:0.2986
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Lot Size SqFt:13006.00
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:4303012041
Heating & Cooling
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Heating:None
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Cooling:No
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Cooling:None
Appliances
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Included:Yes
The Community
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Senior Community:No
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Association:No
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Assessments:No
Parking
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Parking:No
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Parking:None
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Parking Spaces:24.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
10/1/24
Oct 1, 2024
|
Price Changed | CRMLS_CA | $6,300,000 | -3.1% |
|
8/23/24
Aug 23, 2024
|
Price Changed | CRMLS_CA | $6,500,000 | -3.0% |
|
8/2/24
Aug 2, 2024
|
Listed / Active | CRMLS_CA | $6,700,000 | 34.8% (10.3% / YR) |
