1020 South Sherbourne Drive

Los Angeles, CA 90035

$7,200,000
Last Sold Price
42
Beds
36
Baths
22,913 Sq. Ft.
$314 / Sq. Ft.
22,913
Sq. Ft.
$314
per Sq. Ft.

Description

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)...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.
  1. Listed by Jonathan Taksa • DRE #01366169 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty

Property Details for 1020 South Sherbourne Drive

Zoning
LAR3
Parcel Number
4332024030
Total Units
21.0
Living Area
22913
Source Living Area
Vendor Enhanced
Area
Beverly Center-Miracle Mile (C19)
Vacancy Rate
3%
Lot Size Area
16862

Location

Listing Courtesy of Remax Commercial and Investment Realty, Jonathan Taksa, DRE #01366169

Sold By Remax Commercial and Investment Realty, Jonathan Taksa, DRE #01366169

Add your commute
LISTING UPDATED: 09/08/2021 01:09 PM

Property Details for 1020 South Sherbourne Drive

StatusSold
MLS #21-715682
Days on Market30
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.39 AC / 16,862 SF
CountyLos Angeles County

Location

Listing Courtesy of Remax Commercial and Investment Realty, Jonathan Taksa, DRE #01366169

Sold By Remax Commercial and Investment Realty, Jonathan Taksa, DRE #01366169

Add your commute

Building Information for 1020 South Sherbourne Drive

Stories3Residences-Year Built1964Building Size-Lot Size0.39 AC / 16,862 SF

Payment Calculator

$46,908 per month

30 year fixed, 7.25% Interest

Principal and Interest

$39,293

Property Taxes

$7,615

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1020 South Sherbourne Drive

Community / Development
Community / Development
  • Number Of Units: 21
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: 1,2,3
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $426,292
  • Net Operating Income: $204,839.00
  • Gross Income: $425,224
  • Gross Rent Multiplier: $18.25
  • Total Annual Expense: 221454
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Lot Acreage: 0.3871
  • Lot Size Square Feet: 16862
Parking Details
Parking Details
  • Parking Garage: Carport Attached
  • Total Parking: 27
  • Parking Features: Attached Carport
Interior Features
Interior Features
  • Cooling Type: Window Unit(s)
  • Heating Type: Wall Gas
  • Equipment: Other
  • Laundry: Room
Exterior Features
Exterior Features
  • Pool: Yes
  • Private Pool: No
  • Pool Description: In Ground, Fenced
  • Pool Features: In Ground, Fenced
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-06-2021
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,604.00
  • Unit Actual Rent: $9,624.00
  • Unit Projected Rent: $12,000.00
  • Like Units: 6
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,671.00
  • Unit Actual Rent: $15,037.00
  • Unit Projected Rent: $23,400.00
  • Like Units: 9
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,978.00
  • Unit Actual Rent: $11,871.00
  • Unit Projected Rent: $19,800.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $697,208.00
  • Assessed Improvement Percent: 70.36
  • Assessed Land Value: $293,664.00
  • Assessed Land Percent: 29.64
  • Assessed Total Value: $990,872.00

Property History for 1020 South Sherbourne Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1020 South Sherbourne Drive

Taxable ValueLand$4,717,500Additions$2,626,500Total$7,344,000
Tax Record2023$91,375 ($7,615 / month)
Home Facts
Total Finished SqFt22,913 SqFtAbove Grade Finished SqFt22,913 SqFtLot Size16,862 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningLAR3CountyLOS ANGELESAPN4332-024-030

Schools near 1020 South Sherbourne Drive

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
Carthay Center Elementary
PublicK to 5

Emerson Community Charter School
Charter6 to 8

Fairfax Senior High School
Public9 to 12

Los Angeles Center For Enriched Studies
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Remax Commercial and Investment Realty, Jonathan Taksa, DRE #01366169

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.