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    1020 S Sherbourne Dr

    Los Angeles, CA 90035
    • $8,000,000
    • STATUS: Active Under Contract
    • ON SITE: 40 days
    • MLS #: 21-715682
    Under Contract
    UPDATED: 54 min ago
    $8,000,000
    • 42
      BEDS
    • 0.39
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 22,913
      SQFT
    • $349
      $/SQFT
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    1020 S. Sherbourne Drive is a multifamily asset ideally located in the coveted Westside enclave of Beverlywood. Owned and operated by the Seller for over 40 years, the property offers a dynamite unit mix consisting of large 1, 2 and 3 bedroom units, all offering significant rental upside. Built in 1964, the property features a large lobby opening to a beautiful central courtyard with a sparkling pool. There is on-site parking for 27 cars and an on-site laundry facility. The unit mix includes (6) 1-bed, 1-bath units, (9) 2-bed, 2-bath units, and (6) 3-bed, 2-bath units. There are also 3 vacant units (a three bedroom and 2 one bedroom), which allow a buyer to immediately renovate and capture a higher rent. Overall, current rents hover significantly below market providing the astute investor with a long-term blueprint to add value and increase income. With a Walkscore of 90, 1020 S. Sherbourne is truly a walkers paradise.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-17T15:42:57.52. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.markwiseproperties.com/homes/115815395
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    1020 S Sherbourne Dr Los Angeles, CA 90035

    • Price: $8,000,000
    • Status: Active Under Contract
    • Updated: 54 min ago
    • MLS #: 21-715682
    42
    Beds
    0
    Baths
    0
    ½ Baths
    0.39
    Acres
    22,913
    SQFT
    $349
    $/SQFT
    1964
    Built
    Neighborhood:
    Beverly Center-Miracle Mile
    County:
    Los Angeles
    Area:
    Beverly Center-Miracle Mile
    Property Description
    1020 S. Sherbourne Drive is a multifamily asset ideally located in the coveted Westside enclave of Beverlywood. Owned and operated by the Seller for over 40 years, the property offers a dynamite unit mix consisting of large 1, 2 and 3 bedroom units, all offering significant rental upside. Built in 1964, the property features a large lobby opening to a beautiful central courtyard with a sparkling pool. There is on-site parking for 27 cars and an on-site laundry facility. The unit mix includes (6) 1-bed, 1-bath units, (9) 2-bed, 2-bath units, and (6) 3-bed, 2-bath units. There are also 3 vacant units (a three bedroom and 2 one bedroom), which allow a buyer to immediately renovate and capture a higher rent. Overall, current rents hover significantly below market providing the astute investor with a long-term blueprint to add value and increase income. With a Walkscore of 90, 1020 S. Sherbourne is truly a walkers paradise.
    Exterior Features

    Lot Size Area 16862 Other Structures None Parking Garage Carport Attached Pool Description In GroundFenced Pool YN Yes Total Parking 27

    Interior Features

    Baths Total 36.00 Cooling Window Unit(S) Equipment Other Heating Wall Gas Laundry Room

    Property Features

    Assessed Total Value 990872 Gross Income 425224 Gross Operating Income 426292 Like Units1 6 Like Units2 9 Like Units3 6 Net Operating Income 204839.00 Number Of Buildings 1 Number Of Units 21 Rent Control YN Yes Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 221454 Type Of Units 123 Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lar3

    Listing provided courtesy of Jonathan Taksa DRE#01366169 of Remax Commercial And Investment Realty.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-17T15:42:57.52. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Mark Wise | Bennion Deville Homes
    71691 Highway 111
    Rancho Mirage CA, 92270