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1108 S Sherbourne Dr, Los Angeles, CA 90035
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1108 S Sherbourne Dr Los Angeles, CA 90035

$2,400,000
  • 10 Beds
  • 7 Baths
  • 6,310 Sq.Ft.
For Sale
$2,400,000 Get Pre-Qualified
Map preview of 1108 S Sherbourne Dr, Los Angeles, CA 90035

Property Overview: 1108 S Sherbourne Dr Los Angeles, CA has 10 bedrooms, 7 bathrooms, 6,310 living square feet and 6,400 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 1108 S Sherbourne Dr is located in the highly coveted PicoRobertson submarket. This premier Los Angeles neighborhood attracts highendrenters with a consistently low vacancy rate and steady rent growth.The property consists of seven units, including four one-bedrooms and threetwo-bedrooms, all with parking. The soft story retrofit has been completed.This is a true value-add opportunity, with most rents below market levels. Theproperty is offered at $342,857per unit and $380 PSF, with over 27% rentalupside. The property has been well maintained throughout the years, fourunits have been renovated with new kitchen countertops, backsplash, andstainless-steel sinks; mini split AC units have been installed in most of theapartments; value can be added with further interior renovations thatcould enhance rents including recessed lighting, updated bathrooms,new appliances, and high-quality vinyl flooring. The neighborhoodexhibits a significant affordability gap between renting and homeownership, with median home values exceeding $1 million and averagehousehold incomes of $124,520 within a two-mile radius. Pico-Robertson is an established Los Angeles community known for itswalkability, offering numerous amenities within a half-mile radius,including high-end retail options. The property has a walk score of86 and is conveniently located near S La Cienega, W Pico, and WOlympic Blvd.

Listed by Neema Ahadian | BRE #01346750 | Marcus & Millichap
Last checked: 9 minutes ago | Last updated: September 4th, 2024 | Source CRMLS | DOM: 61

Home details

Lot Sq. Ft
6,400
HOA Dues
$0/mo
Year built
1955
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24418331
City
Los Angeles
County
Los Angeles
Time on Site
58 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,979
  • Total Rent: $7,914
  • Pro Forma/Market Rent: $8,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,432
  • Total Rent: $1,432
  • Pro Forma/Market Rent: $3,100
Unit Breakdown 3
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,464
  • Total Rent: $4,927
  • Pro Forma/Market Rent: $6,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 13.88
  • Gross Scheduled Income: --
  • Net Operating Income: $101,063
  • Gross Operating Income: $164,263
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 1108 S Sherbourne Dr

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • No Heating
  • None
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Covered
Property Information
  • Total # of Units: 7
  • Parcel Number: 4332023002
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Located just west of S La Cienega Blvd between W Olympic Blvd and W Pico Blvd.
View more facts & features

Local Los Angeles Agent

Sale History for 1108 S Sherbourne Dr

View property's historical transactions

  • July, 2024

  • Jul 19, 2024

    Date

    Active

    CRMLS: 24418331

    $2,600,000

    Price

Tax History for 1108 S Sherbourne Dr

Assessed Value (2020): $284,583
Year Land Value Improved Value Assessed Value
2020 $120,644 $163,939 $284,583

Home Value Compared to the Market

This property vs the competition

1108 S Sherbourne Dr is listed 100% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $768 and this home is listed at $380.35 per/sqft which puts the price per square foot 50.48% lower than the median price per square foot for the city of Los Angeles.

About 1108 S Sherbourne Dr

Detailed summary of property

1108 S Sherbourne Dr is a multi family located in Los Angeles, CA 90035 and is currently for sale. This multi family property offers 10 bedrooms, 7 bathrooms, roughly 6,310 living square feet, and sits on an approximately 6,400 square foot lot. 1108 S Sherbourne Dr was first listed on ArdentRealEstateGroup.com on July 23, 2024. The homeowner is currently asking $2,400,000 and was originally asking $2,600,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $768. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 100% higher than the median priced home. Local competing homes currently for sale include 6347 Orange St, 1525 S Orange Grove Ave and 6216 W 6th St. While the average home in Los Angeles, CA is selling in 106 days, 1108 S Sherbourne Dr has a days on market of 61 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 1108 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 1108 S Sherbourne Dr

Public county record property details
Beds
--
Baths
--
Year built
1955
Sq. Ft.
6,310
Lot Size
6,398
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
140
APN
4332-023-002

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
$1,375,000
Median List Price/Sq.Ft.
$785
Median Sold Price
$1,699,500
Median Sold Price/Sq.Ft.
$747
Total Inventory
56
Median Sale to List Price %
97.17%
Avg Days on Market
30
Loan Type
Conventional (16.67%), FHA (0%), VA (0%), Cash (0%), Other (8.33%)

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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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