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2011 S Shenandoah Street, Los Angeles, California 90266, Los Angeles, 90266 - bed, bath

2011 S Shenandoah Street, Los Angeles, California 90266 home-pic-0
ACTIVE$2,485,000
2011 S Shenandoah Street, Los Angeles, California 90266
0Bed
0Bath
5,104Sqft
8,697Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Significant Development Potential: The property comes with fully approved 'Ready-To-Issue' (RTI) plans for two additional ADUs, with potential for four more, offering substantial expansion and future income growth.
Top Cons:
Extensive Capital Investment Required: Realizing the full value-add potential necessitates significant upfront capital investment for both the extensive unit renovations and the construction of the ADUs.

Compared to the nearby listings

Price:$2.48M vs avg $3.62M ($-1,132,500)50%
Size:5,104 sqft vs avg 4,162.5 sqft50%
Price/sqft:$487 vs avg $98150%

More Insights

Built in 1948 (77 years old).
Condition: Built in 1948, the property is explicitly described as having 'value-add potential through unit renovations' and likely requiring 'significant updates to its infrastructure, systems, and aesthetics, implying potential for deferred maintenance and higher renovation costs.' While one image shows a recently renovated kitchen with modern cabinets, countertops, and appliances, this is likely not representative of all six units. The overall property, including its exterior and the general tone of the listing, indicates a need for substantial repairs and rehabilitation across most units to meet current standards.
Year Built
1948
Close
-
List price
$2.48M
Original List price
$2.48M
Price/Sqft
$487
HOA
-
Days on market
-
Sold On
-
MLS number
SB25206796
Home ConditionPoor
Features
Patio
View-

About this home

6 Units + Fully Approved RTI Plans for 2 ADUs in Prime La Cienega Heights. We are proud to present 2011 S Shenandoah Street, a six-unit multifamily property located in the desirable La Cienega Heights neighborhood of Los Angeles. The building is comprised of two spacious two-bedroom, one-bath units and four one-bedroom, one-bath units, totaling 5,104 square feet of living space on an 8,697 square foot lot. The property offers a rare development opportunity with Fully Approved RTI Plans for two additional ADUs, each designed as 900 square foot two-bedroom, two-bath units. In addition, there is the potential to add 4 additional ADU’s in place of the front ground level unit. This asset presents strong value-add potential through unit renovations and ADU construction, creating substantial upside in rental income and long-term appreciation. Ideally situated in a quiet residential pocket with close proximity to major employment centers, transportation, and local amenities, 2011 S Shenandoah Street is a prime investment opportunity in one of Los Angeles’ most dynamic rental markets.

Nearby schools

4/10
Shenandoah Street Elementary School
Public,•K-5•0.2mi
4/10
Mark Twain Middle School and World Languages Magnet
Public,•6-8•4.6mi
6/10
Alexander Hamilton Senior High School
Public,•9-12•0.6mi

Price History

Date
Event
Price
06/21/23
Sold
$662,500
Condition Rating
Poor
Built in 1948, the property is explicitly described as having 'value-add potential through unit renovations' and likely requiring 'significant updates to its infrastructure, systems, and aesthetics, implying potential for deferred maintenance and higher renovation costs.' While one image shows a recently renovated kitchen with modern cabinets, countertops, and appliances, this is likely not representative of all six units. The overall property, including its exterior and the general tone of the listing, indicates a need for substantial repairs and rehabilitation across most units to meet current standards.
Pros & Cons

Pros

Significant Development Potential: The property comes with fully approved 'Ready-To-Issue' (RTI) plans for two additional ADUs, with potential for four more, offering substantial expansion and future income growth.
Prime Los Angeles Location: Situated in the desirable La Cienega Heights neighborhood of Los Angeles, ensuring high rental demand and strong long-term appreciation due to proximity to employment centers and amenities.
Existing Income Stream: Currently a 6-unit multifamily property, providing an immediate and diversified income stream from two 2-bedroom and four 1-bedroom units.
Clear Value-Add Opportunity: Presents a clear and substantial value-add opportunity through unit renovations and ADU construction, leading to increased rental income and overall property value.
Ample Lot Size: The generous 8,697 square foot lot provides sufficient space to accommodate the existing structures and the planned additional dwelling units.

Cons

Extensive Capital Investment Required: Realizing the full value-add potential necessitates significant upfront capital investment for both the extensive unit renovations and the construction of the ADUs.
Age of Property: Built in 1948, the property is likely to require significant updates to its infrastructure, systems, and aesthetics, implying potential for deferred maintenance and higher renovation costs.
Renovation & Management Intensity: The project involves extensive renovations and ADU construction, demanding considerable time, effort, and active management from the investor.

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