Investment Overview

Strong In-Place Financials The property is being offered at an attractive CAP rate of 5.13%. The owners have diligently maintained and upgraded the property over the years, regularly increasing rents and turning units with exceptional care and style as tenants moved out. Their efforts have notably enhanced the property's income, demonstrating the potential for further growth through similar strategies. Additionally, the sellers have undertaken the costly and complex earthquake soft-story retro?t and added four ADUs to the property, further enhancing its appeal. Utility Bill-Back Potential A new owner can continue implementing utility bill back as units are turned. Currently, 13/20 units are on this program (65%). This approach allows for a fair distribution of utility expenses among tenants based on their usage patterns. By continuing this bene?cial strategy, a new owner can continue to transfer the costs of utilities to the tenants and further increase the NOI & cash ?ow over time. Desirable Unit Mix The property contains an attractive unit mix consisting of eleven 1+1’s, four 2+2’s, one 2+1.5, and three 1+1 ADU’s, and one Studio+1 ADU. This variety lends itself well to a savvy investor because it diversi?es risk, appeals to a wider range of tenants, and enhances the property's long-term value, ensuring a more stable and pro?table investment. Well-Located Property 1534 Shenandoah is an exceptionally well-located property in the Pico-Robertson neighborhood. Its location is central to everything on the Westside, offering convenient access to major employment centers in Century City and Santa Monica, as well as a short, 1-mile drive to downtown Culver City and all of the wonderful entertainment & dining options the vibrant neighborhood has to offer. Ample Parking The property offers ample parking, with up to 24 spaces available throughout the property. The front of the property features convenient parking for up to 16 vehicles, including eight tandem spots that stretch across the lot. Additionally, there is room for 7 more cars along the side of the property, consisting of 3 tandem spaces and 1 single space. In total, the property can comfortably accommodate up to 24 vehicles.   Great Demographics The property is located in a very affluent area as it relates to demographics. The average household income (HHI) within a 1-mile radius is an extremely healthy $131,284. Within a 3-mile radius, that ?gure is even higher, checking in at $133,795.