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Multifamily

320 S Sherbourne Dr

320 S Sherbourne Dr, Los Angeles, CA 90048

Listing Price: $3,195,000

Cap Rate
3.27%
Number of Units
8
Occupancy
100.0%
Price/Unit
$399,375
Price/Gross SF
$592.11
Gross SF
5,396

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale 320 S. Sherbourne Drive. This rare offering has been owned by the same family trust for over 50 years. 320 S. Sherbourne Drive is located in one of the best parts of Los Angeles. The building is steps from Cedars Sinai, The Beverly Center, 8500 Burton Way as well as all of the exciting destination shops and restaurants on 3rd Street, Robertson and La Cienega Boulevards. The property features eight one bedroom, one bath units, 9 parking spaces and on-site laundry. The seismic retrofit has already been completed and the building received a new roof within the last 10 years. 320 S. Sherbourne Drive represents the rate opportunity to purchase 8 income producing units with significant upside potential in one of the very best, most desirable rental pockets in all of Los Angeles!

Investment Highlights

  • 1st Time on Market in 50+ Years
  • Seismic Retrofit Has Been Completed
  • 3 of 8 Units Have Been Remodeled - $15-$18k spent per unit
  • Electrical Panels Have Been Updated in Units & Laundry Room
  • 25 Year Roof Installed 10 Years Ago
  • 9 Covered Parking Spaces
  • Situated on an R3 Lot

Exclusively Listed By

Financing By

Listing Price: $3,195,000

Cap Rate
3.27%
Number of Units
8
Occupancy
100.0%
Price/Unit
$399,375
Price/Gross SF
$592.11
Gross SF
5,396

Investment Highlights

  • 1st Time on Market in 50+ Years
  • Seismic Retrofit Has Been Completed
  • 3 of 8 Units Have Been Remodeled - $15-$18k spent per unit
  • Electrical Panels Have Been Updated in Units & Laundry Room
  • 25 Year Roof Installed 10 Years Ago
  • 9 Covered Parking Spaces
  • Situated on an R3 Lot

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale 320 S. Sherbourne Drive. This rare offering has been owned by the same family trust for over 50 years. 320 S. Sherbourne Drive is located in one of the best parts of Los Angeles. The building is steps from Cedars Sinai, The Beverly Center, 8500 Burton Way as well as all of the exciting destination shops and restaurants on 3rd Street, Robertson and La Cienega Boulevards. The property features eight one bedroom, one bath units, 9 parking spaces and on-site laundry. The seismic retrofit has already been completed and the building received a new roof within the last 10 years. 320 S. Sherbourne Drive represents the rate opportunity to purchase 8 income producing units with significant upside potential in one of the very best, most desirable rental pockets in all of Los Angeles!

Exclusively Listed By

Financing By

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