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    1020 S Sherbourne Drive

    Los Angeles (City), CA 90035
    • $8,000,000
    • STATUS: Active Under Contract
    • ON SITE: 37 days
    • ID#: 21715682
    Under Contract
    $8,000,000
    • 0
      BEDS
    • 0.38
      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 California Regional Multiple Listing Service, Inc. as of 2021-05-14T00:35:14.603. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Zutila, Inc.. Licensed in the State of California, USA.
    www.myorangecountyhomesearcher.com/homes/115816928
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    1020 S Sherbourne Drive Los Angeles (City), CA 90035

    • Price: $8,000,000
    • Status: Active Under Contract
    • ID#: 21715682
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.38
    Acres
    22,913
    SQFT
    $349
    $/SQFT
    1964
    Built
    Neighborhood:
    C19 - Beverly Center-Miracle Mile
    County:
    Los Angeles
    Area:
    C19 - 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

    Carport YN Yes Parking Features Attached Carport Pool Features FencedIn Ground Pool Private YN No

    Property Features

    Additional Parcels YN No Gross Income 425224 Laundry Features Laundry Room Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 204839 Rent Control YN Yes Senior Community YN No Special Listing Conditions Standard Zoning Lar3

    Listing provided courtesy of Jonathan Taksa of Remax Commercial And Investment Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-14T00:35:14.603. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Zutila, Inc.. Licensed in the State of California, USA.
     
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