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1042 S Sherbourne Dr

Los Angeles, CA 90035
  • $2,688,888
  • STATUS: Active
  • ON SITE: 47 Days
  • MLS #: 21-795208
Price Reduced
UPDATED: 65 min ago
$2,688,888
  • 9
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,312
    SQFT
  • $506
    $/SQFT
Type:
Multi-Family
Built:
1954
County:

School Ratings & Info

Description

We are 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.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-01T06:43:04.25. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.haciendagroupinc.com/homes/122371650
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1042 S Sherbourne Dr Los Angeles, CA 90035

  • Price: $2,688,888
  • Status: Active
  • On Site: 47 Days
  • Updated: 65 min ago
  • MLS #: 21-795208
9
Beds
0
Baths
0
½ Baths
0.16
Acres
5,312
SQFT
$506
$/SQFT
1954
Built
Neighborhood:
Beverly Center-Miracle Mile
County:
Los Angeles
Area:
Beverly Center-Miracle Mile
Property Description
We are 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.
Exterior Features

Covered Parking 6 Lot Size Area 6875 Other Structures None Parking Garage Covered Parking Total Parking 6 View Description None View YN No

Interior Features

Baths Total 6.00 Cooking Appliances Convection Oven Cooling Wall Unit(S) Equipment None Flooring Wood Heating Central Laundry Laundry Area

Property Features

Assessed Total Value 445259 Gross Income 162156 Gross Operating Income 158001 Like Units1 3 Like Units2 3 Net Operating Income 99664.00 Number Of Buildings 1 Number Of Units 6 Owner Pays Water Sale Type Standard Security Features None Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Tenant Pays GasElectricity Total Annual Expense 58357 Type Of Units Market Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of Saadia 'Sam' Liberow DRE#01933858 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-01T06:43:04.25. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Hacienda Agency Inc
77935 Calle Tampico # 201
La Quinta CA, 92253