1108 South Sherbourne Drive

Los Angeles, CA 90035

$2,600,000
Price
5
Beds
3.5
Baths
6,310 Sq. Ft.
$412 / Sq. Ft.
6,310
Sq. Ft.
$412
per Sq. Ft.

Description

1108 S Sherbourne Dr is located in the highly coveted PicoRobertson submarket. This premier Los Angeles neighborhood attracts highendrenters with a consistently low vacancy rate and steady rent growth. The property consists of seven units, including four one-bedrooms and threetwo-bedrooms, all with parking. The soft story retrofit has been completed. This is a true value-add opportunity, with most rents below market levels. Theproperty is offered at $371,429 per unit and $412 PSF, with over 27% rentalupside....1108 S Sherbourne Dr is located in the highly coveted PicoRobertson submarket. This premier Los Angeles neighborhood attracts highendrenters with a consistently low vacancy rate and steady rent growth. The property consists of seven units, including four one-bedrooms and threetwo-bedrooms, all with parking. The soft story retrofit has been completed. This is a true value-add opportunity, with most rents below market levels. Theproperty is offered at $371,429 per unit and $412 PSF, with over 27% rentalupside. The property has been well maintained throughout the years, fourunits have been renovated with new kitchen countertops, backsplash, andstainless-steel sinks; mini split AC units have been installed in most of theapartments; value can be added with further interior renovations thatcould enhance rents including recessed lighting, updated bathrooms,new appliances, and high-quality vinyl flooring. The neighborhoodexhibits a significant affordability gap between renting and homeownership, with median home values exceeding $1 million and averagehousehold incomes of $124,520 within a two-mile radius. Pico-Robertson is an established Los Angeles community known for itswalkability, offering numerous amenities within a half-mile radius,including high-end retail options. The property has a walk score of86 and is conveniently located near S La Cienega, W Pico, and WOlympic Blvd.
  1. Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1108 South Sherbourne Drive

Zoning
LAR3
Parcel Number
4332023002
Total Units
7.0
Living Area
6310
Source Living Area
Vendor Enhanced
Area
Beverly Center-Miracle Mile (C19)
Vacancy Rate
0
Lot Size Area
6400
LISTING UPDATED: 07/27/2024 12:01 AM

Property Details for 1108 South Sherbourne Drive

StatusActive
MLS #24-418331
Days on Market50
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1955
Lot Size0.15 AC / 6,400 SF
CountyLos Angeles County

Building Information for 1108 South Sherbourne Drive

Stories2Residences-Year Built1955Building Size-Lot Size0.15 AC / 6,400 SF

Property Information for 1108 South Sherbourne Drive

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 1+1
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $164,263
  • Net Operating Income: $101,063.00
  • Gross Income: $172,908
  • Gross Rent Multiplier: $15.04
  • Total Annual Expense: 63199
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1469
  • Lot Size Square Feet: 6400
Parking Details
Parking Details
  • Parking Garage: Covered Parking
  • Total Parking: 0
  • Parking Features: Covered
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-22-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,979.00
  • Unit Actual Rent: $7,914.00
  • Unit Projected Rent: $8,800.00
  • Like Units: 4
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,432.00
  • Unit Actual Rent: $1,432.00
  • Unit Projected Rent: $3,100.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,464.00
  • Unit Actual Rent: $4,927.00
  • Unit Projected Rent: $6,400.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $172,117.00
  • Assessed Improvement Percent: 57.58
  • Assessed Land Value: $126,816.00
  • Assessed Land Percent: 42.42
  • Assessed Total Value: $298,933.00

Property History for 1108 South Sherbourne Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1108 South Sherbourne Drive

Taxable ValueLand$126,816Additions$172,317Total$299,133
Tax Record2023$40,324 ($3,360 / month)
Home Facts
Total Finished SqFt6,310 SqFtAbove Grade Finished SqFt6,310 SqFtLot Size6,398 SqFtStyleMulti-Family Res (5+ Units)Year Built1955ZoningLAR3CountyLOS ANGELESAPN4332-023-002

Schools near 1108 South Sherbourne Drive

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
Carthay Center Elementary
PublicK to 5

Emerson Community Charter School
Charter6 to 8

Fairfax Senior High School
Public9 to 12

Los Angeles Center For Enriched Studies
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1108 South Sherbourne Drive is a multi-family home for sale in Los Angeles, CA 90035. This property was listed for sale on July 19, 2024 by Marcus & Millichap, it's currently listed at $2,600,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Carthay Center Elementary, Emerson Community Charter School and Fairfax Senior High School. 1108 South Sherbourne Drive is a 5-bed, 3.5-bath, 6,310 sqft multi-family home built in 1955.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.