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Search Cali Homes Team
1645 S St Andrews Place, Los Angeles, CA 90019
- $1,900,000
- 8
- BD
- 13
- BA
- 6,827
- SqFt
Listing courtesy of Listing Agent: Taylor Avakian (taylor@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..
- List Price
- $1,900,000
- Status
- ACTIVE
- Days on Market
- 25
- Price Change
- ▲ $200,000 1791964693
- MLS#
- 26102021
- Subtype
- Residential Income
- Bedrooms
- 8
- Bathrooms
- 13
- Living Area
- 6,827
- Lot Size
- 9,101
- Acres
- 0.21
- MLS Area Major
- Mid Los Angeles (C16)
Property Description
1645 S St Andrews Pl | 13-Unit Value-Add Multifamily, Mid-City Los Angeles. 1960-built asset totaling 6,827 SF on a 9,277 SF LAR3 lot, one block west of Western Avenue with Koreatown to the north and quick access to the I-10 and the Metro E Line's Expo/Western station. The property features (7) studios averaging 410 SF, (4) 1BR/1BA units averaging 600 SF, and (2) 2BR/1BA units averaging 765 SF, plus 10 on-site parking spaces. Twelve of 13 units are occupied, with in-place rents averaging $1,299 against $1,820 at market a 40% gap and one studio delivered vacant for immediate lease-up. Offered at $1,900,000 ($146,154/unit | $278.31/SF) with a 5.52% current cap rate, the real story is turnover RSO units that reset to market at each vacancy, a 9.42% pro forma cap with no capital program assumed, and pricing 7% below the average of six recent comparable sales.
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Additional Information
- Zoning
- LAR3
- Heating
- None
- Stories
- Multi Level
- Levels
- Multi/Split
- Parking Features
- Driveway Down Slope From Street
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.