810 S St Andrews Pl, Los Angeles, CA 90005

810 S St Andrews Pl, Los Angeles, CA 90005

Los Angeles, CA
$4,100,000

Property Description

810 S. St. Andrews Pl is located just two blocks from the intersection of Wilshire Blvd and Western Ave, the heart of Koreatown. The property was built in 1932 and consists of 18 very large one bedroom, one bath units averaging 700sf. The building totals 15,260sf on a 6,875sf lot zoned R4. Currently the property is 100% occupied and there is approximately 35% upside in rents allowing a new investor the ability to increase cash flow with unit turn. The property includes a large basement area where the communal laundry facility and central water heater is located. There are 5 washers and 5 dryers provided income in excess of $5,000 a year. The property is master metered for gas and separately metered for electricity. With a walk score of 97 “Walker’s Paradise, ” tenants are walking distance to some of Koreatown’s best restaurants and shops. Public transportation is ample with the Western Metro stop on the Purple line just two blocks away. Contact listing agents for offering memorandum.

Property Features

  • Sale Price: $4,100,000
  • Area Size: 6,877 SF
  • Year Built: Built in 1932, renovated in 193
  • Listing Date: 2/27/2024
  • Units: 18
  • Current GRM: 11.92
  • Current Cap Rate: 4.85%
  • Market GRM: 8.83
  • Market Cap Rate: 7.36%

Lyon Stahl Investment Real Estate

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