1534 South Shenandoah Street

Los Angeles, CA 90035

$6,500,000
Price
24
Beds
24
Baths
15,326 Sq. Ft.
$424 / Sq. Ft.
15,326
Sq. Ft.
$424
per Sq. Ft.

Description

The property being offered boasts strong in-place financials, highlighted by an attractive CAP rate of 5.13%. 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 5.13%. 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.
  1. Listed by Saadia 'Sam' Liberow • DRE #01933858 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1534 South Shenandoah Street

Zoning
LAR3
Parcel Number
4303012041
Total Units
20.0
Living Area
15326
Source Living Area
Assessor
Area
Beverlywood Vicinity (C09)
Vacancy Rate
15571
Lot Size Area
13006
LISTING UPDATED: 08/23/2024 03:06 PM

Property Details for 1534 South Shenandoah Street

StatusActive
MLS #24-422107
Days on Market48
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.30 AC / 13,006 SF
CountyLos 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

Community / Development
Community / Development
  • Number Of Units: 20
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 1
  • Type Of Units: Standard
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $514,978
  • Net Operating Income: $333,347.00
  • Gross Income: $503,458
  • Cap Rate: 5.13%
  • Gross Rent Multiplier: $12.52
  • Actual Annual Gross Rent: $519,029.00
  • Vacancy Allow Dollar: $15,571.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 181631
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2986
  • Lot Size Square Feet: 13006
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 24
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Two
  • 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: 08-02-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,000.00
  • Unit Actual Rent: $2,000.00
  • Unit Projected Rent: $2,000.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,930.00
  • Unit Actual Rent: $21,234.00
  • Unit Projected Rent: $27,500.00
  • Like Units: 11
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,200.00
  • Unit Actual Rent: $6,600.00
  • Unit Projected Rent: $6,600.00
  • Like Units: 3
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,865.00
  • Unit Actual Rent: $2,865.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,638.00
  • Unit Actual Rent: $10,554.00
  • Unit Projected Rent: $13,700.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,552,797.00
  • Assessed Improvement Percent: 30.0
  • Assessed Land Value: $3,623,193.00
  • Assessed Land Percent: 70
  • Assessed Total Value: $5,175,990.00

Property History for 1534 South Shenandoah Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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 Record2023$64,098 ($5,342 / 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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1534 South Shenandoah Street is a multi-family home for sale in Los Angeles, CA 90035. This property was listed for sale on August 2, 2024 by Marcus & Millichap, it's currently listed at $6,500,000. It has been on the market for a total of 48 days and was last sold on March 23, 2021. This listing's school district is Los Angeles Unified School District. Nearby schools include Canfield Avenue Elementary School, Daniel Webster Middle School and Alexander Hamilton Senior High School. 1534 South Shenandoah Street is a 24-bed, 24-bath, 15,326 sqft multi-family home built in 1964.

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, Saadia 'Sam' Liberow, DRE #01933858

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.