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Multifamily

1042 S Sherbourne Dr

1042 S Sherbourne Dr, Los Angeles, CA 90035

Listing Price: $2,788,888

Cap Rate
3.61%
Number of Units
6
GRM
17.00
Occupancy
97.0%
Price/Unit
$464,815
Price/Gross SF
$525.02
Gross SF
5,312

Investment Overview

Marcus & Millichap is pleased to present 1042 S. Sherbourne Drive, a 6-unit apartment building located in the heart of Pico-Robertson, one of the strongest rental submarkets in Los Angeles.

Situated on a 6,875 SF lot, this two-story building consists of 5,312 rentable SF and includes three (3) one-bedroom/one-bath units and three (3) two-bedroom/one-bath units. On-site amenities include a laundry facility and six (6) off-street parking spaces.

The property has been owned, operated, and well maintained by current ownership for over 40 years, and will be delivered with two vacant units at the close of escrow, presenting a perfect opportunity for buyers looking to increase rental income through renovations.

Pico-Robertson is a high-density rental market adjacent to Beverly Hills, Century City, Beverlywood, Miracle Mile, Carthay Square, Mid-City, and West Hollywood. These surrounding areas include major employment centers for residents in the Pico-Robertson area. The property itself is within walking distance to Pico Boulevard, which hosts a diversity of restaurants, grocery stores, bars, synagogues, and schools.

This asset offers investors a great opportunity to acquire a well-maintained apartment building in the heart of Pico-Robertson, with significant upside potential.

Investment Highlights

  • First Time on The Market in 40 Years
  • Seismic Retrofit: This property is not on the Los Angeles City soft-story list.
  • A+ Pico-Robertson Neighborhood

Exclusively Listed By

Listing Price: $2,788,888

Cap Rate
3.61%
Number of Units
6
GRM
17.00
Occupancy
97.0%
Price/Unit
$464,815
Price/Gross SF
$525.02
Gross SF
5,312

Investment Highlights

  • First Time on The Market in 40 Years
  • Seismic Retrofit: This property is not on the Los Angeles City soft-story list.
  • A+ Pico-Robertson Neighborhood

Investment Overview

Marcus & Millichap is pleased to present 1042 S. Sherbourne Drive, a 6-unit apartment building located in the heart of Pico-Robertson, one of the strongest rental submarkets in Los Angeles.

Situated on a 6,875 SF lot, this two-story building consists of 5,312 rentable SF and includes three (3) one-bedroom/one-bath units and three (3) two-bedroom/one-bath units. On-site amenities include a laundry facility and six (6) off-street parking spaces.

The property has been owned, operated, and well maintained by current ownership for over 40 years, and will be delivered with two vacant units at the close of escrow, presenting a perfect opportunity for buyers looking to increase rental income through renovations.

Pico-Robertson is a high-density rental market adjacent to Beverly Hills, Century City, Beverlywood, Miracle Mile, Carthay Square, Mid-City, and West Hollywood. These surrounding areas include major employment centers for residents in the Pico-Robertson area. The property itself is within walking distance to Pico Boulevard, which hosts a diversity of restaurants, grocery stores, bars, synagogues, and schools.

This asset offers investors a great opportunity to acquire a well-maintained apartment building in the heart of Pico-Robertson, with significant upside potential.

Exclusively Listed By

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