1427 S SHENANDOAH ST, Los Angeles, CA, 90035

CALL FOR OFFERS Deadline - 5PM, Wednesday, May 25th, 2022. We are pleased to present 1427 S Shenandoah St -- a multifamily development opportunity located in the highly sought after Pico-Robertson District. This property allows a future investor to build up to 15 units utilizing the TOC Tier 2program or 8 units by right! This wood frame stucco building, built in 1930, consists of 2,694 SF of living area and is situated on a 6,499 SF lot zonedLAR3. Known for its distinct community feel, with shops and restaurants within easy walking distance, the Pico-Robertson neighborhood has become one of the most desirable real estate markets in Los Angeles. The subject property presents an incredible value-add opportunity for a savvy investor to renovate the units and bring rents up to market value or construct a new luxury apartment building. The Shenandoah Apartments boast a great unit mix of Two (2) Two Bedroom / One Bath units. In addition to providing tenants with Six (6) parking spaces (3 garage and 3 in the driveway), the building also has a washer and dryer upstairs with washer and dryer hookups downstairs. The current owner installed a beautiful oak wood staircase that connects the 2 units, turning this duplex into one large unit; however, a door separating the spaces allows a Buyer to rent the 2 units separately as well(Buyer to verify). In addition, the building's electrical systems were completely redone with two (2) separate panels. Lastly, a central HVAC, security system, and gated entry were also installed. With one of the largest concentrations of synagogues in the city, and as the home of important institutions like the Simon Wiesenthal Center and the Museum of Tolerance, Pico-Robertson continues to play a central role in the diversification of Los Angeles. With exceptional location in the Pico-Robertson neighborhood, a highly desirable area in Los Angeles that is located closely to the Beverly Grove, Sunset Strip, and Beverly Hills, a strategic investor will have no problem leasing the units or building a luxury apartment building in a high rental demand area.