1649 S St Andrews Pl, Los Angeles, CA 90019

1649 S St Andrews Pl, Los Angeles, CA 90019

Los Angeles, CA
$2,360,000

Property Description

We are pleased to present this 13 unit offering located in an excellent Western Heights location between Koreatown and Mid-City. The property has an excellent unit mix consisting of (10) 1 Bed/1 Bath, (1) 2 Bed/1Bath, and (2) Single units. Two of the units are newly constructed ADU’s that include a single and a 1 Bed/1Bath, both of which have A/C, new appliances, and high-end finishes. The subject property sits on an 8,563 square foot lot zoned LAR3 and was built in 1963.The building is well maintained and features on-site laundry and 9 parking spaces, 6 of which are covered spaces. There is NO soft story parking required. There is significant upside in rents (44%) making this an excellent value-add opportunity for an investor.

Property Features

  • Sale Price: $2,360,000
  • Area Size: 7,616 Sq. Ft.
  • Land Area: 8,744 Sq. Ft.
  • Year Built: 1963
  • Listing Date: 10/23/2023
  • Closing Date: 11/29/2023
  • Units: 13
  • Current GRM: 11.91
  • Current Cap Rate: 5.58%
  • Price Per Unit: $184,615
  • Market GRM: 8.28
  • Market Cap Rate: 9.00%
  • Current NOI: $133,892

Lyon Stahl Investment Real Estate

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