1960 S Sherbourne Dr, Los Angeles, CA 90034

Property Description

We are very pleased to exclusively present The Sherbourne Residences, an exceptional opportunity to acquire a beautifully remodeled six-unit apartment building in the highly desirable Crestview enclave, adjacent to the exclusive Beverlywood neighborhood. Offered at $2,995,000, this well-maintained and fully renovated property features an outstanding unit mix of five spacious 2-bedroom, 2-bathroom residences and one expansive 4-bedroom, 2.5-bathroom residence. All six units have been fully remodeled and feature updated kitchens with stainless steel appliances, new countertops, new flooring, and new windows, creating bright, modern living spaces with strong tenant appeal. Five of the six residences feature central heating and air conditioning as well as in-unit laundry, and all six units have their own electric vehicle chargers. The front 2+2 residence also offers a private fenced yard, adding a desirable outdoor amenity to an already excellent list of tenant amenities. The property has completed its seismic retrofit, providing an important capital improvement for the next owner.The investment fundamentals are equally compelling, with approximately $246,168 in annual scheduled rental income, $164,439 in annual net operating income, and a 5.5% current cap rate with projected market rents offering a potential annual NOI of $178,736 and nearly a 6% market cap rate. Ideally situated in fantastic Crestview neighborhood, directly adjacent to Beverlywood and conveniently close to Beverly Hills, Century City, and Culver City, the property offers access to premier Westside employment centers, shopping, dining, and entertainment. The surrounding area combines an established residential setting with convenient access to major commercial corridors and everyday amenities. The Residences at Sherbourne represents the rare opportunity to acquire a highly upgraded six unit multifamily asset featuring spacious two and four bedroom residences, modern kitchens and bathrooms, EV charging throughout, a completed seismic retrofit, strong in-place income, all in an exceptional and highly desired central Westside location.