2032 S. Shenandoah St, Los Angeles, CA 90034
7 Units in Pico-Robertson With Approx. 26% Rental Upside
2032 S Shenandoah St is a 7-unit multifamily property located in Pico-Robertson, positioned east of La Cienega Blvd within one of the Westside’s most consistent rental corridors. The property sits on a residential street while remaining minutes from Culver City, Miracle Mile, The Grove, and Beverly Center.
This section of Pico-Robertson continues to lease steadily because it offers central access without volatility. Tenants here are choosing proximity to employment, neighborhood retail, and Westside connectivity. That tends to produce stable occupancy rather than trend-driven turnover.
Two-Structure Layout With Functional, Livable Units
The property totals approx. 7,159 SF across two structures and consists of (1) 4-bedroom unit, (1) 3-bedroom unit, and (5) 2-bedroom units. Each unit averages approx. 1,000 SF.
In this submarket, unit size matters. Many competing buildings offer smaller layouts. These units feel usable rather than compressed. Larger 2- and 3-bedroom configurations continue to attract roommates, families, and work-from-home households seeking space that functions day to day.
The two-building configuration also creates flexibility. Improvements can be phased between structures, allowing ownership to sequence renovations without impacting the entire property at once. For experienced owners, that matters in practical terms, not theory.
Separate Metering, Parking, and Straightforward Operations
Each unit is separately metered for gas and electricity, providing clean expense separation. The property offers at least one parking space per unit, a stabilizing feature in Pico-Robertson where off-street parking directly influences leasing decisions.
The building does not require soft-story seismic retrofit per available information, though buyer to verify.
Operationally, the asset is simple. No excessive amenity package. No unusual layout. Just a manageable 7-unit building with predictable fundamentals.
Offered at 4.29% CAP and 14.31 GRM w/ 26% Rental Upside
The property was offered at $2,600,000, equating to $371,429 per unit and $363 per square foot.
Current scheduled gross income is approx. $181,740 annually, reflecting a 4.29% CAP rate and a 14.31 GRM on in-place rents.
Based on renovated comparables in the immediate Pico-Robertson area, market rents support approx. $229,380 in projected annual gross income. At those levels, the property trends toward an estimated 6.07% CAP rate and an 11.33 GRM.
The approx. 26–27% rent gap is tied to interior condition rather than structural limitation. The units already provide the scale and layout the submarket supports. The opportunity centers on renovation execution and timing, not speculative repositioning.
Pico-Robertson Location With Durable Westside Access
2032 S Shenandoah St benefits from its position east of La Cienega Blvd with efficient access to Culver City, Mid-City, Beverly Hills, and the broader Westside employment base. The neighborhood continues to attract renters who value centrality without sacrificing residential character.
Buildings in this pocket are typically evaluated through practical underwriting. Location stability, unit size, parking, and rent alignment tend to carry more weight than promotional positioning.
2032 S Shenandoah St reflects that profile. A manageable unit count, larger-than-typical floor plans, and measurable rent positioning within one of the Westside’s most consistently leased submarkets.
Marketing Package:
Property Location
Sold Price
$2,500,000
Information
Number of Units
Price per. Unit
Bldg. Size
Price per Foot
Lot Size
Year Built
Current CAP
Market CAP
Zoning
Discuss Your Property with a Los Angeles Multifamily Broker
Whether you are thinking about selling now or simply exploring possibilities, we are happy to review your property, discuss current value, and share perspective on how the market is treating assets like yours today.
