Investment Overview

• The Neema Group of Marcus & Millichap is pleased to present a multifamily investment opportunity at 1108 S Sherbourne Dr in the highly coveted Pico Robertson submarket, located just west of S La Cienega Blvd between W Olympic Blvd and W Pico Blvd, a premier Los Angeles neighborhood that attracts high-end renters with a consistently low vacancy rate and steady rent growth • The property totals seven units made up of four one-bedrooms and three two-bedrooms with 12 parking spaces – four tandem spaces in the front of the building and two tandem spaces in the rear of the property; the soft story retrofit has been completed; one of the one-bedroom units will be delivered vacant at the close of escrow • True value-add opportunity with the majority of rents below market; offered at $342,857 per unit and $380 PSF at the asking price with over 27% rental upside • The property has been well maintained throughout the years, but value can be added with interior renovations that could enhance rents including recessed lighting, updated kitchens and bathrooms, new appliances, and high-quality vinyl flooring • Electricity is separately metered; there is a community laundry room with one washer and one dryer, leased with Dadson • There is a significant affordability gap between renting and home ownership in the neighborhood; within two miles of the subject property, the median home value is over $1 MM; the average household income within two miles of the property is $124,520 • The Pico-Robertson neighborhood is an established Los Angeles community known for being highly walkable, providing an array of amenities within a half-mile radius, the property has a walk score of 86 and is within walking distance to S La Cienega, W Pico, and W Olympic Blvd with high-end retail options for residents