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$4,050,000
Est. payment /mo
15,606 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 15,606 sqft
Price per Sqft $259
MLS Listing ID CL25582121
HOA Y/N No
Year Built 1971
Lot Size 8,490 Sqft
Acres 0.19
Property Sub-Type Other
Property Description
We are 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 50% 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. Disclosure of Legal Proceedings Ownership is currently involved in the following legal matters involving the property: Tenant Habitability Lawsuit: Los Angeles Superior Court Case No. 24STCV03171 Durwood v. Waheed, involving Unit #105 who still resides at the building. Employment-Related Lawsuit: Los Angeles Superior Court Case No. 23STCV03290 Durwood v. Canul, filed by the former on-site manag
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 5516022023
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Listed by Sean Rosenzweig • Marcus & Millichap
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