SoldBroker Activity · Entry № 104

What does $270,000 a door look like in Pico-Robertson.

SLIM Capital bought it $600,000 under ask.

PublishedAugust 25, 2026
StatusSold · Closed August 13, 2026
DatelineThe Tape · Pico-Robertson, Los Angeles
1534 S Shenandoah St hero photo
LISTING PHOTO VIA COSTAR.
Four takeawaysDEAL · 1534 S Shenandoah St · Pico-Robertson
  1. $5.395 million on August 13.The ask was $5.995 million. They came off $600,000, about 10%. It sat 160 days.
  2. 20 units. One studio, 14 one-beds, 5 two-beds.$269,750 a door. $352 a foot. 15,326 SF. Two stories. Built 1964 in Pico-Robertson. You cannot replace this building at $352 a foot.
  3. Brokers : The buyer is SLIM Capital. Shervin Rashti.They might be looking for more assets. The sellers are Scott and Debra Mund and might need a 1031 exchange. They held it 65 months, a little over five years. Michael Gholian at KW was on the buy side. Sam Liberow at Marcus & Millichap listed it.
  4. 1964. That is rent control. LARSO applies.CoStar shows an 11.06 GRM and a 6.40% cap on $345,454 of NOI. That GRM implies about $2,030 a unit if the number is right. I do not have a rent roll.
Deal Stats · 1534 S Shenandoah St
Sale Price
$5,395,000
confirmed, closed 2026-08-13
List Price
$5,995,000
$600K bid-ask delta
Units
20
1 studio · 14 one-bed · 5 two-bed
Price / Unit
$269,750
per door
Price / SF
$352/SF
15,326 gross SF
CAP (Current)
6.40%
at close, broker stated
GRM (Current)
11.06
at close
NOI
$345,454
current, at 25% vacancy
Year Built
1964
LARSO applies
Lot SF
12,980 SF
LAR3 · 0.30 acres
ULA Tax (Est.)
$215,800
above ULA threshold
Hold Period
65 months
Pacifica@1534 LLC → 1534 S Shenandoah St LLC

The Location

Shenandoah Street sits in the heart of the Pico-Robertson Submarket, one of the more durable rental pockets on the Westside. The ZIP is 90035 

$104,752 median household income and Pico-Robertson is a serious supply-constrained corridor. Twelve-month sales volume in the submarket ran $391M.

The Setup

Twenty units across 15,326 gross SF. Average unit size is approximately 766 SF. Covered and surface parking is available; stall count is not in the record. 

What an Operator Sees

I like the buy on this one.

SLIM Capital.

$352 a foot for a 1964 in Pico-Robertson.

CoStar has a 11.06 GRM.

1964. Rent control.

I don't have a rent roll.  

I'm keeping the door price and who bought it.

I'm researching the market to make better investment strategies. I'm sharing what I find along the way with other investors to have discussions, debates and help make better decisions.

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Property and transaction data: CoStar Research.

Brokers
Listing Broker
Sam Liberow
Marcus & Millichap
Buyer Broker
Michael Gholian
KW Commercial Beverly Hills
Written from the field

David Safai, operator, developer, GC.

Atlas Home Builders, Inc. is a Los Angeles owner-operator and general contractor. If you are a broker with a listing you want an honest read on, send the OM and the T-12 to David@AtlasBrief.La.

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