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1140 S Shenandoah St, Los Angeles, CA 90035

For Sale

$1,950,000

4 beds • 3,022 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $645.27
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

ATTENTION ALL DEVELOPERS, REMODELERS & MULTI-UNIT INVESTORS! Exciting opportunity in a prime location! This two-story duplex, nestled on a 6,384 sq. ft. lot zoned {Q}-LA-R3-O and under TOC Tier 2 (Transit Oriented Communities), offers immense potential. Each unit, comprising 2 beds and 1 bath, currently houses tenants with rents of $2,720/month and $1,665/month, respectively. This property also boasts an exceptional Pedestrian Friendly rating of 9.6 out of 10, highlighting its accessibility and appeal to a wide tenant base. The true value lies in its future possibilities: Plans have been submitted for final approval and will be RTI within a short period for a transformative 14,000 sq. ft., 4-story apartment building with 26 affordable housing units, promising a significant transformation and lucrative investment opportunity. This lot is ripe for various ventures, including renovation for rental upside, ground-up development of the approved 26-unit affordable housing apartment complex, condominium & small lot subdivision projects, as well as additions of ADUs. The R3 zoning offers flexibility, allowing developers to explore other variances with the city of Los Angeles as applicable. Buyer is advised to conduct thorough due diligence and verify all remodel & development possibilities. This is not just a property; it's a gateway to a multitude of lucrative opportunities in one of the most sought-after areas. Seize this rare chance to invest in a property that promises not just a return on investment, but also a significant contribution to the urban landscape of one of the most sought-after neighborhoods.
MLS# 23-337525

Courtesy Of Rodeo Realty

(310) 724-7100

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other
  • Floor Covering
    Hardwood
  • Heating System
    Central Furnace
  • Lot Size
    0.15 Acres
  • Roof Type
    Unknown
  • Rooms
    Bedroom

Map and Directions

Directions to 1140 S Shenandoah St, Los Angeles, CA 90035

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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