What does $270,000 a door look like in Pico-Robertson.
SLIM Capital bought it $600,000 under ask.
At a glance
confirmed, closed 2026-08-13
$600K bid-ask delta
1 studio · 14 one-bed · 5 two-bed
per door
15,326 gross SF
at close, broker stated
at close
current, at 25% vacancy
LARSO applies
LAR3 · 0.30 acres
above ULA threshold
Pacifica@1534 LLC → 1534 S Shenandoah St LLC
What matters
- $5.395 million on August 13.The ask was $5.995 million. They came off $600,000, about 10%. It sat 160 days.
- 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.
- 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.
- 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.
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 research these transactions to sharpen my own investment strategy and share what I find so Los Angeles owners, brokers and investors can debate the market with better information.
Know one other LA owner who'd want this deal? Forward this — reply with their email and I'll add them.
Property and transaction data: CoStar Research.
Write to David Safai at David@AtlasBrief.La
Appeared in the Sept. 6, 2026 edition of The Tape.