Executive Summary

• 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