1140 S Shenandoah St Immeuble residentiel 2 lots 1 641 562 € (820 781 €/Lot) Los Angeles, CA 90035

The Neema Group of Marcus & Millichap is pleased to present an owner user, investment, or development opportunity at 1140 S Shenandoah St in the highly coveted Pico Robertson submarket, located just north of W Pico Blvd, a premier Los Angeles neighborhood that attracts high-end renters with a consistently low vacancy rate and steady rent growth.
The subject property is an existing duplex with two large two-bedroom units currently occupied; there is a garage at the rear of the property as well as room for additional uncovered parking. Ownership has preliminary plans submitted for two ADU’s, both three bedrooms, 1,250 SF each.
Alternatively, there is development potential; the lot totals 6,384 SF zoned [Q]R3-1-O in a Tier 2 TOC; ownership has preliminary plans for a 21-unit affordable housing project.
Strong demographics in the neighborhood; within two miles of the subject property, the median home value is over $1.1 MM and average household income over $127,000. The Pico-Robertson neighborhood is an established Los Angeles community known for being highly walkable, providing an array of amenities within a half-mile radius, the property has a walk score of 84 and is within walking distance to S Robertson Blvd, W Olympic Blvd, and S La Cienega Blvd with high-end retail options for residents.