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11/30/16
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In a recent apartment sale comp from Los Angeles’ Pico-Robertson neighborhood, an eight-unit building sold for $4 mil, or $500k per unit, in an off-market deal. The property, located at 1030 South Shenandoah St, east of Robertson and south of Olympic Blvd, is comprised of town-home style units with dual levels. It boasts roof-top patios with views of the city.
The property was purchased by the seller 80 years ago and had remained in the same family until this sale. The original property was a duplex, however, in 1989 the property was redeveloped and the existing eight-unit building was constructed.
Adam Zunder & David Weinberger of KW Commercial represented the buyer, who is expected to renovate and remodel the building to realize unrealized income potential.
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