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… Read More 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. Read Less
Courtesy of Marcus & Millichap 818-212-2700
Listing Snapshot
Days Online
2
Last Updated
Property Type
Other
Beds
21
Square Ft.
15,326
Lot Size
0.3 Acres
Year Built
1964
MLS Number
26661085
30 Days Snapshot Of 90035
$1.82M
-4%
(avg) sold price
3
0%
homes sold
37
-67%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
15,326 sq ft, Built in 1964, Levels: Two
Cooling
Wall Unit(s)
Disclosures
None
Garage
Assigned, Uncovered, Tandem
Heating
None
Lot
LotAcreage: 0.2986, LotSizeArea: 13,006
Parking
TotalParking: 22
Property
NumberOfUnits: 20, Zoning: LAR3
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