$2,400,000
- Beds
- Unknown
- sq ft
- 6,310
1108 S Sherbourne Dr, Los Angeles, CA 90035
1108 S Sherbourne Dr
Los Angeles, CA 90035
- 59 days on market
- Price drop $200,000↓
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.
Details
Property type
Lot size
6,400 sq ft
Price per sq ft
$381
Year built
1955
HOA
No
Price History
09/04/2024
CLAW #24418331
Price change
$2,400,000
-7.69%
07/19/2024
CLAW #24418331
Listed
$2,600,000
Schools & Community
Neighborhood:
Pico-Robertson
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 09/20/2024 at 9:50 AM
Listing updated: 09/04/2024 at 7:02 PM
Listed by: Neema Ahadian, Marcus & Millichap Phone #: (310) 909-5500
MLS: CLAW #24418331
Recently listed in Los Angeles
$1,249,999|3 bd|2.5 ba|Condo
$1,385,000|5 bd|4.0 ba|House
$2,550,000|3 bd|3.0 ba|House
$1,875,000|3 bd|3.5 ba|House
$850,000|2 bd|2.0 ba|Condo
$3,900,000|3 bd|4.0 ba|House
$795,000|1 bd|1.0 ba|House
$1,499,000|3 bd|1.75 ba|House
$1,850,000|6 bd|6.0 ba|House
$22,950,000|8 bd|15.0 ba|House
Explore top cities in California