Local Owner-Operator Snags Pico-Robertson Apartment Property
Marcus & Millichap closed the sale of 1476 S Shenandoah St., a 16-unit multifamily property in Los Angeles. The property sold for $5.3 million, or $334,937 per unit.
“Properties like this rarely become available in Pico-Robertson, especially those that have been held by the same ownership for more than two decades,” said Sam Liberow, senior managing director investments. “After 23 years of ownership, the offering generated six competitive offers, reflecting continued demand for well-located multifamily assets with large floor plans. The buyer plans to renovate units through natural tenant turnover while holding the property as a long-term investment.”
Liberow, in Marcus & Millichap’s Encino office, marketed the property on behalf of the seller, 1476 Shenandoah Street LLC. He also procured the buyer, a local owner and operator.
Built in 1966, the 17,653-square-foot property is situated on a 0.30-acre parcel in Los Angeles’ Pico-Robertson neighborhood.
