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1020 S Sherbourne Dr, Los Angeles, CA 90035
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1020 S Sherbourne Dr Los Angeles, CA 90035

$7,200,000 Sold Price as of 09/08/2021
  • 42 Beds
  • 36 Baths
  • 22,913 Sq.Ft.
Sold
$7,200,000 Sold Price as of 09/08/2021 Refinance Your Mortgage
Map preview of 1020 S Sherbourne Dr, Los Angeles, CA 90035

Property Overview: 1020 S Sherbourne Dr Los Angeles, CA has 42 bedrooms, 36 bathrooms, 22,913 living square feet and 16,862 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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.

Listed by Jonathan Taksa | BRE #01366169 | Remax Commercial and Investment Realty
Last checked: 5 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 30

Home details

Lot Sq. Ft
16,862
HOA Dues
$0/mo
Year built
1964
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21715682
City
Los Angeles
County
Los Angeles
Time on Site
1130 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 21
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,604
  • Total Rent: $9,624
  • Pro Forma/Market Rent: $12,000
Unit Breakdown 2
  • # of Units: 9
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,671
  • Total Rent: $15,037
  • Pro Forma/Market Rent: $23,400
Unit Breakdown 3
  • # of Units: 6
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,978
  • Total Rent: $11,871
  • Pro Forma/Market Rent: $19,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 18.25
  • Gross Scheduled Income: --
  • Net Operating Income: $204,839
  • Gross Operating Income: $426,292
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1020 S Sherbourne Dr

Interior Features
Laundry Information
  • Has Laundry
  • Individual Room
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: In Ground, Fenced
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Attached Carport
Property Information
  • Total # of Units: 21
  • Parcel Number: 4332024030
Location / Neighborhood
Location Information
  • Directions: Just south of Olympic Blvd. Three blocks West of La Cienega Blvd. 2 blocks from Beverly Hills.
View more facts & features

Local Los Angeles Agent

Sale History for 1020 S Sherbourne Dr

Last sold for $7,200,000 on September 8th, 2021

  • September, 2021

  • Sep 8, 2021

    Date

    Sold

    CRMLS: 21715682

    $7,200,000

    Price

  • Jun 28, 2021

    Date

    Pending

    CRMLS: 21715682

    $8,000,000

    Price

  • May 6, 2021

    Date

    Active Under Contract

    CRMLS: 21715682

    $8,000,000

    Price

  • Apr 6, 2021

    Date

    Active

    CRMLS: 21715682

    $8,000,000

    Price

  • March, 1974

  • Mar 6, 1974

    Date

    Sold (Public Records)

    Public Records

    $462,004

    Price

Show More

Tax History for 1020 S Sherbourne Dr

Assessed Value (2020): $990,872
Year Land Value Improved Value Assessed Value
2020 $293,664 $697,208 $990,872

Home Value Compared to the Market

This property vs the competition

1020 S Sherbourne Dr sold on September 8, 2021 for 572.27% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $349.15 per/sqft which puts the price per square foot 53.76% lower than the current median sale per square foot for the city of Los Angeles.

About 1020 S Sherbourne Dr

Detailed summary of property

1020 S Sherbourne Dr is a multi family that recently sold in Los Angeles, CA 90035. This multi family property offered 42 bedrooms, 36 bathrooms, roughly 22,913 living square feet, and sits on an approximately 16,862 square foot lot. 1020 S Sherbourne Dr was first listed on ArdentRealEstateGroup.com on April 6, 2021. The homeowner sold the property for $7,200,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 572.27% higher than the current median priced home. Local homes that are currently for sale include 11920 Montana Ave, 4233 Burns Ave and 1651 Redcliff St. While the average home in Los Angeles, CA is selling in 93 days, 1020 S Sherbourne Dr has a days on market of 30 days. There are currently 3618 homes for sale in the Los Angeles real estate market and 2437 of them are single family homes while 1084 of them are condos and 92 are townhomes. For more information on this home for sale at 1020 S Sherbourne Dr Los Angeles, CA 90035 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1020 S Sherbourne Dr

Public county record property details
Beds
--
Baths
--
Year built
1964
Sq. Ft.
22,913
Lot Size
16,861
Stories
--
Type
Apartment House (5+ Units)
Pool
Yes
Spa
No
County
Los Angeles
Lot#
74-76
APN
4332-024-030

The source for these homes facts are from public records.

90035 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,225,000
Median List Price/Sq.Ft.
$784
Median Sold Price
$1,465,000
Median Sold Price/Sq.Ft.
$843
Total Inventory
56
Median Sale to List Price %
104.64%
Avg Days on Market
35
Loan Type
Conventional (15.38%), FHA (0%), VA (0%), Cash (23.08%), Other (7.69%)

Thinking of Selling?

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Recently Sold Homes Near 1020 S Sherbourne Dr

1000 S Sherbourne Dr, Los Angeles, CA 90035
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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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