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1427 S Shenandoah Street

Los Angeles (City), CA 90035
  • $1,700,000
  • STATUS: Active
  • ON SITE: 15 Days
  • ID#: 22156215
$1,700,000
  • 0
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1930
County:

School Ratings & Info

Listing Agent(s): Derrick Vartanian of Kw Advisors (310-482-2200) and Jonathan Prakash of Kw Advisors(310-482-2200)


Description

CALL FOR OFFERS Deadline - 5PM, Wednesday, May 25th, 2022. 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 California Regional Multiple Listing Service, Inc. as of 2022-05-28T00:32:21.227. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
www.northsdrealty.com/homes/128658362
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1427 S Shenandoah Street Los Angeles (City), CA 90035

  • Price: $1,700,000
  • Status: Active
  • On Site: 15 Days
  • ID#: 22156215
0
Beds
0
Baths
0
½ Baths
0.15
Acres
1930
Built
Neighborhood:
C09 - Beverlywood Vicinity
County:
Los Angeles
Area:
C09 - Beverlywood Vicinity
Property Description
CALL FOR OFFERS Deadline - 5PM, Wednesday, May 25th, 2022. 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

Parking Features Door-MultiDrivewayGarage Parking Total 6

Interior Features

Appliances DryerWasher Cooling Central Air Cooling YN Yes Heating Central Heating YN Yes

Property Features

Association Fee 0 Garage YN Yes Gross Income 96000 Laundry Features Stacked Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 58505 New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-28T00:32:21.227. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): Derrick Vartanian of Kw Advisors (310-482-2200) and Jonathan Prakash of Kw Advisors(310-482-2200)