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1537 South Shenandoah Street

$9,750,000

1537 South Shenandoah Street, Los Angeles, CA 90035

Active
Last Updated: 08/31/2023

3.2

Cap Rate

3.2

Pro Forma Cap Rate

Details:
Cap Rate:    3.2%
Pro Forma Cap Rate :    3.2%
Cash-on-Cash:    4.3%
NOI:    $449,294
Building Size:    20,290 sqft
Lot Area:    13,000 sqft
Occupancy:    100%
Class:    A
Units:    17
Price Per Sqft:    $443.57
Price Per Unit:    $529,411
Year Built:    1990
Floors:    6
Parking Spots:    32
Year Last Renovated:    2022
Parking Ratio:    2
Number of Elevators:    2
Investment Strategy:    Opportunistic
Highlights:
  • WITH NEW UPGRADES WE WERE ABLE TO INCREASE RENTS ON 3 NEWLY UPGRADED 2 BEDROOM. 2 BATH UNITS BY $800 & $1,000 A MONTH. AN ADDITIONAL $4,000 A MONTH WAS ADDED BY UPGRADING AND RENTING THE 3 BEDROOM, 2 BATH NEVER BEFORE RENTED OWNERS UNIT. A TOTAL OF $79.600 YEARLY INCREASE IN RENTS. PROVEN FUTURE EARNINGS POTENTIAL. THESE 2 BUILDINGS ARE VERY ATTRACTIVE TO UPWARDLY MOBILE, MOTIVATED RENTERS. IMAGINE WHAT YOU CAN REALIZE!
Description:

Two Newly Updated Apartment Buildings In Los Angeles!
1537 & 1539 South Shenandoah Street, La, Ca 90035
17 Condo Quality Units Plus Street Level Security Garages.
Close To Beverly Hills & Century City.
With New Upgrades We Were Able To Increase
Rents On 3 Newly Upgraded 2 Bedroom.
2 Bath Units By $800 & $1,000 A Month.
An Additional $4,000 A Month Was Added
By Upgrading And Renting The 3 Bedroom,
2 Bath Never Before Rented Owners Unit.
A Total Of $72.600 Yearly Increase In Rents.
Proven Future Earnings Potential.
These 2 Buildings Are Very Attractive To
Upwardly Mobile, Motivated Renters. Note:
Another Apartment Is Soon To Be Vacated.
Wecan Add $1,000 A Month Rent Thus Adding
An Additional $12,000 A Year To The $72, 600
Making It $84,600 Yearly On Five Apartments Alone.
Imagine What You Can Realize!

Map:
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