1645 S St Andrews PL, Los Angeles, CA 90019
1645 S St Andrews PL, Los Angeles, CA 90019
1645 S St Andrews PL, Los Angeles, CA 90019
1645 S St Andrews PL, Los Angeles, CA 90019
1645 S St Andrews PL, Los Angeles, CA 90019
1645 S St Andrews PL, Los Angeles, CA 90019
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Ian Michael

Ian Michael

+1(714) 723-1545
$ 1,900,000
Est. payment | /mo

8 Beds

13 Baths

6,827 SqFt

Save
$ 1,900,000
Est. payment | /mo
Save

8 Beds

13 Baths

6,827 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 6,827 sqft

Price per Sqft $278

MLS Listing ID 26102021

Bedrooms 8

HOA Y/N No

Lot Size 9,099 Sqft

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.

Location

State CA

County Los Angeles

Area C16 - Mid Los Angeles

Zoning LAR3

Interior

Heating None

Cooling None

Fireplace No

Exterior

Parking Features Driveway Down Slope From Street

Total Parking Spaces 10

Building

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5073015013

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc. #02060040

Nearby Locations

Ian Michael

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 723-1545

admin@luxurela.com

50 Wilshire Blvd suite 203,, Beverly Hills, California 9021290212, USA

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1645 S St Andrews PL