21 Units Near Larchmont Village | 161 S St. Andrews Pl
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21 Units Near Larchmont Village 161 S St. Andrews Pl
21 Unit Apartment Building $6,195,870 CAD ($295,041 CAD/Unit) 4.81% Cap Rate Los Angeles, CA 90004
Investment Highlights
- 55 Percent Remaining Rental Upside Through Interior & Exterior Renovations – Three Units Currently Vacant
- Long Term Ownership – Family Owned and Operated, on the Market for the First Time in Over 25 Years
- Features a Secured Subterranean Parking Garage, On-Site Laundry (Owner Owned Equipment), Balconies (86% of Units), Elevator and In-Unit A/C
- The Property is Located in a Highly Sought-After Pocket, just blocks from Larchmont Village
- Residents are Within Close Proximity to Popular Local Amenities Such as The Wiltern Theater, MaDang Courtyard, Omni Plaza, and More
- Surrounded by Multi-Million Dollar Homes in Some of the Most Distinct Neighborhoods
Executive Summary
Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 21-unit apartment community located at 161 South St Andrews Place. The subject property is located just south of Beverly Boulevard, three blocks away from Larchmont Village - one of LA’s most distinct and well-regarded neighborhoods.
The property is comprised of one three story building, situated on an 8,490 square foot parcel. Consisting entirely of one-bedroom units, the layouts are spacious and feature patios (86% of units), A/C units and on-site parking for every unit. New Ownership will have the opportunity to add tremendous value as there is 55 percent remaining rental upside through interior renovations.
As a result of the neighborhood’s charm and desirability, there is robust demand for housing and long-term rent growth. The asset’s location along with the value-add potential for a new owner make 161 South St Andrews an excellent acquisition opportunity.
The property is comprised of one three story building, situated on an 8,490 square foot parcel. Consisting entirely of one-bedroom units, the layouts are spacious and feature patios (86% of units), A/C units and on-site parking for every unit. New Ownership will have the opportunity to add tremendous value as there is 55 percent remaining rental upside through interior renovations.
As a result of the neighborhood’s charm and desirability, there is robust demand for housing and long-term rent growth. The asset’s location along with the value-add potential for a new owner make 161 South St Andrews an excellent acquisition opportunity.
Property Facts
| Price | $6,195,870 CAD | Apartment Style | Low Rise |
| Price Per Unit | $295,041 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 4.81% | Building Size | 15,606 SF |
| Gross Rent Multiplier | 12.18 | No. Stories | 3 |
| No. Units | 21 | Year Built | 1971 |
| Property Type | Multifamily | Parking Ratio | 1.35/1,000 SF |
| Property Subtype | Apartment |
| Price | $6,195,870 CAD |
| Price Per Unit | $295,041 CAD |
| Sale Type | Investment |
| Cap Rate | 4.81% |
| Gross Rent Multiplier | 12.18 |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 15,606 SF |
| No. Stories | 3 |
| Year Built | 1971 |
| Parking Ratio | 1.35/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 21 | - | 650 |
Walk Score ®
Walker's Paradise (95)
Transit Score ®
Excellent Transit (73)
PROPERTY TAXES
| Parcel Number | 5516-022-023 | Improvements Assessment | $1,064,272 CAD |
| Land Assessment | $459,396 CAD | Total Assessment | $1,523,668 CAD |
PROPERTY TAXES
Parcel Number
5516-022-023
Land Assessment
$459,396 CAD
Improvements Assessment
$1,064,272 CAD
Total Assessment
$1,523,668 CAD
zoning
| Zoning Code | LAR3 |
| LAR3 |
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21 Units Near Larchmont Village | 161 S St. Andrews Pl
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