1534 South Shenandoah Street
$6,300,000
24
24
15,326
15,326
$411
Description
The property being offered boasts strong in-place financials, highlighted by an attractive CAP rate of 5.33%. The diligent maintenance and upgrades carried out by the owners have consistently increased rents and enhanced the property's income. Their exceptional care and style in turning units as tenants moved out have demonstrated significant potential for further growth through similar strategies. Additionally, the costly and complex earthquake soft-story retrofit and the addition of four ADUs have...The property being offered boasts strong in-place financials, highlighted by an attractive CAP rate of 5.33%. The diligent maintenance and upgrades carried out by the owners have consistently increased rents and enhanced the property's income. Their exceptional care and style in turning units as tenants moved out have demonstrated significant potential for further growth through similar strategies. Additionally, the costly and complex earthquake soft-story retrofit and the addition of four ADUs have further enhanced the property's appeal. A new owner can continue to capitalize on the utility bill-back potential as units are turned. Currently, 13 out of 20 units (65%) are on this program, which allows for a fair distribution of utility expenses among tenants based on usage. This beneficial strategy can help transfer utility costs to tenants, thereby increasing the NOI and cash flow over time. The property features a desirable unit mix, comprising eleven 1+1 units, four 2+2 units, one 2+1.5 unit, three 1+1 ADUs, and one Studio+1 ADU. This variety diversifies risk, appeals to a broader range of tenants, and enhances the property's long-term value, ensuring a more stable and profitable investment. Located at 1534 Shenandoah, the property is in the highly desirable Pico-Robertson neighborhood. It offers central access to the Westside, with proximity to major employment centers in Century City and Santa Monica, and is just a 1-mile drive from downtown Culver City, known for its vibrant entertainment and dining options. Ample parking is available, with space for up to 24 vehicles. The front of the property accommodates up to 16 vehicles, including eight tandem spots, while the side of the property provides room for seven more cars, comprising three tandem spaces and one single space. The property is situated in an affluent area with great demographics. The average household income within a 1-mile radius is $131,284, and within a 3-mile radius, it is $133,795. These strong financials, strategic utility management, desirable unit mix, prime location, ample parking, and favorable demographics make this property a highly attractive investment opportunity.
- Listed by Saadia 'Sam' Liberow • DRE #01933858 • Brokerage DRE #01238010 • Marcus & Millichap
Property Details for 1534 South Shenandoah Street
Zoning
LAR3
Parcel Number4303012041
Total Units20.0
Living Area15326
Source Living AreaAssessor
AreaBeverlywood Vicinity (C09)
Vacancy Rate15571
Lot Size Area13006
LISTING UPDATED: 11/06/2024 10:53 AM
Property Details for 1534 South Shenandoah Street
Status | Active |
---|---|
MLS # | 24-422107 |
Days on Market | 86 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1964 |
Lot Size | 0.30 AC / 13,006 SF |
County | Los Angeles County |
Building Information for 1534 South Shenandoah Street
Stories1Residences-Year Built1964Building Size-Lot Size0.30 AC / 13,006 SF
Property Information for 1534 South Shenandoah Street
Property History for 1534 South Shenandoah Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1534 South Shenandoah Street
Taxable ValueLand$3,695,656Additions$1,583,852Total$5,279,508
Tax Record2024$65,352 ($5,446 / month)
Home Facts
Total Finished SqFt13,126 SqFtAbove Grade Finished SqFt13,126 SqFtLot Size13,003 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningLAR3CountyLOS ANGELESAPN4303-012-041
Schools near 1534 South Shenandoah Street
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 6 to 12 |
Rating | School | Distance |
---|---|---|
Canfield Avenue Elementary School PublicK to 5 | ||
Daniel Webster Middle School Public6 to 8 | ||
Alexander Hamilton 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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