Skip to main content

Multifamily

161 S St Andrews Pl

161 S St Andrews Pl, Los Angeles, CA 90004

Listing Price: $6,000,000

Cap Rate
2.71%
Number of Units
21
Price/Unit
$285,714
Price/Gross SF
$384.47
Gross SF
15,606

Investment Overview

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 70 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.

Investment Highlights

  • 70 Percent Remaining Rental Upside Through Interior & Exterior Renovations
  • The Property is Located in a Highly Sought-After Pocket, just blocks from Larchmont Village Allowing Residents to Enjoy Convenient Access to Boutique Retail Shops, Popular Eateries and Coffee Shops
  • Long Term Ownership – Family Owned and Operated, on the Market for the First Time in Over 25 Years
  • The Building Features a Secured Subterranean Parking Garage, On-Site Laundry (Owner Owned Equipment), Balconies (86% of Units), Elevator (Full Modernization in 2021) and In-Unit A/C
  • The Subject Property is Surrounded by Multi-Million Dollar Homes in Some of the Most Distinct Neighborhoods, Including; Windsor Square, Windsor Village, Wilshire Park, Lafayette Square and Hancock Park
  • Current Ownership has Attentively Maintained the Property Leaving an Excellent Base for a New Owner to Make Further Enhancements
  • Full Elevator Modernization Completed in 2021

Exclusively Listed By

Financing By

Multifamily

161 S St Andrews Pl

Listing Price: $6,000,000

Cap Rate
2.71%
Number of Units
21
Price/Unit
$285,714
Price/Gross SF
$384.47
Gross SF
15,606

Investment Highlights

  • 70 Percent Remaining Rental Upside Through Interior & Exterior Renovations
  • The Property is Located in a Highly Sought-After Pocket, just blocks from Larchmont Village Allowing Residents to Enjoy Convenient Access to Boutique Retail Shops, Popular Eateries and Coffee Shops
  • Long Term Ownership – Family Owned and Operated, on the Market for the First Time in Over 25 Years
  • The Building Features a Secured Subterranean Parking Garage, On-Site Laundry (Owner Owned Equipment), Balconies (86% of Units), Elevator (Full Modernization in 2021) and In-Unit A/C
  • The Subject Property is Surrounded by Multi-Million Dollar Homes in Some of the Most Distinct Neighborhoods, Including; Windsor Square, Windsor Village, Wilshire Park, Lafayette Square and Hancock Park
  • Current Ownership has Attentively Maintained the Property Leaving an Excellent Base for a New Owner to Make Further Enhancements
  • Full Elevator Modernization Completed in 2021

Investment Overview

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 70 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.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower