1108 S Sherbourne Drive Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90035
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,310 sqft
Price per Sqft $380
MLS Listing ID CL24418331
HOA Y/N No
Year Built 1955
Lot Size 6,400 Sqft
Acres 0.15
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
Location
State CA
County Los Angeles
Area Listing
Zoning LAR3
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Type Covered
Building
New Construction No
Others
Tax ID 4332023002