1960 S Sherbourne DR, Los Angeles, CA 90034
1960 S Sherbourne DR, Los Angeles, CA 90034
1960 S Sherbourne DR, Los Angeles, CA 90034
25
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$2,995,000
Est. payment /mo
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13 Beds
12 Baths
7,260 SqFt
New

1960 S Sherbourne DR Los Angeles, CA 90034

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Jerry And Rachel Team Hsieh

Jerry And Rachel Team Hsieh

+1(424) 242-8856

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 7,260 sqft

Price per Sqft $412

MLS Listing ID 26101892

Bedrooms 13

HOA Y/N No

Year Built 1961

Lot Size 6,856 Sqft

Property Description

We are very pleased to exclusively present The Sherbourne Residences, an exceptional opportunity to acquire a beautifully remodeled six-unit apartment building in the highly desirable Crestview enclave, adjacent to the exclusive Beverlywood neighborhood. Offered at $2,995,000, this well-maintained and fully renovated property features an outstanding unit mix of five spacious 2-bedroom, 2-bathroom residences and one expansive 4-bedroom, 2.5-bathroom residence. All six units have been fully remodeled and feature updated kitchens with stainless steel appliances, new countertops, new flooring, and new windows, creating bright, modern living spaces with strong tenant appeal. Five of the six residences feature central heating and air conditioning as well as in-unit laundry, and all six units have their own electric vehicle chargers. The front 2+2 residence also offers a private fenced yard, adding a desirable outdoor amenity to an already excellent list of tenant amenities. The property has completed its seismic retrofit, providing an important capital improvement for the next owner.The investment fundamentals are equally compelling, with approximately $246,168 in annual scheduled rental income, $164,439 in annual net operating income, and a 5.5% current cap rate with projected market rents offering a potential annual NOI of $178,736 and nearly a 6% market cap rate. Ideally situated in fantastic Crestview neighborhood, directly adjacent to Beverlywood and conveniently close to Beverly Hills, Century City, and Culver City, the property offers access to premier Westside employment centers, shopping, dining, and entertainment. The surrounding area combines an established residential setting with convenient access to major commercial corridors and everyday amenities. The Residences at Sherbourne represents the rare opportunity to acquire a highly upgraded six unit multifamily asset featuring spacious two and four bedroom residences, modern kitchens and bathrooms, EV charging throughout, a completed seismic retrofit, strong in-place income, all in an exceptional and highly desired central Westside location.

Location

State CA

County Los Angeles

Area C09 - Beverlywood Vicinity

Zoning LARD2

Interior

Heating Central

Cooling Central Air

Fireplace No

Appliance Dishwasher, Disposal, Microwave, Oven, Range Hood

Laundry Stacked

Exterior

Parking Features Attached Carport

Total Parking Spaces 6

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 4302025019

Acceptable Financing Cash

Listing Terms Cash

Financing Cash

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Dana Brody Dana Brody #01429001

NEARBY SCHOOL & BUSINESS

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Jerry And Rachel Team Hsieh

Jerry And Rachel Team Hsieh

Owner/Director of Sales License ID: 01701809

+1(424) 242-8856

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1960 S Sherbourne DR

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