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.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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