1534 S Shenandoah Street, Los Angeles, CA 90035

$5,995,000 Approx. USD 21 beds, 24 baths
15,326 sqft

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Photo of Jimmy Rashid

Marketed By Jimmy Rashid REALTOR® - Sales Associate 424-209-9129 m
818-223-9100 o
Lic#: 02130355
NRDS ID: 175534418
Jimmy@JimmyRashid.com Calabasas Office
23925 Park Sorrento
Calabasas, CA 91302
Phone: 818-223-9100
Fax: 818-876-3100

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Agent Remarks

1534 Shenandoah presents a well-maintained Westside asset with strong in-place financials and clear upside potential. The property offers an attractive 5.76% going-in cap rate, supported by ownership's consistent track record of raising rents and executing tasteful unit renovations upon turnover. A new owner can continue this proven strategy to further enhance income. Additional NOI growth is available through the continued rollout of a utility bill-back program, currently implemented in 13 of the 20 units (65%), allowing for the gradual transfer of utility costs to tenants as units turn. The property also benefits from a highly desirable and diversified unit mix of eleven 1-bedroom/1-bath units, five 2-bedroom/2-bath units, three 1-bedroom/1-bath ADUs, and one 0-bedroom/1-bathroom ADU appealing to a broad tenant base and helping stabilize long-term occupancy. Ideally located in the heart of Pico-Robertson, the asset offers central Westside access to major employment hubs including Century City and Santa Monica, while being just one mile from the dining, entertainment, and walkable amenities of Downtown Culver City. The property is further enhanced by convenient on-site parking at the front of the building, a highly desirable amenity for tenants in this dense urban submarket. Please note, the property square footage includes the additional square footage from the four (4) ADU units (Buyer to verify all details related to actual building square footage). The property consists of sixteen (16) regular units and four (4) ADU units.

Listing Details

Property type: (Multi-Family)

Status: Pending

MLS# 26661085

Price: $5,995,000

Beds: 21

Baths: 24

Built in 1964

15,326 sqft

2 stories

0.30 acres

Lot size: 0.2986