1108 S Sherbourne Drive Los Angeles, CA 90035
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 $342, 857per unit and $380 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.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site57 Days
- MLS StatusActive
- MLS ID Number24418331
- Home Size Source N/A
- Year Built1955
- Lot Size0.1469 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Covered
- Parking Spaces 0
- Number of Stories Multi/Split2
- Acreage 0.1469
- Zoning LAR3
- Listing Conditions Standard
Interior Features
- Cooling None
- Heating None
Community Features
- Senior Community No
- MLS Area C19 - Beverly Center-Miracle Mile