Multifamily
161 S St Andrews Pl
161 S St Andrews Pl, Los Angeles, CA 90004
Listing Price: $5,000,000
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.
161 S St Andrews Pl
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
- Residents Are Within Close Proximity to Popular Local Amenities Such as The Wiltern Theater, MaDang Courtyard, Omni Plaza, City Center on 6th, The LINE Hotel, Chapman Plaza & More
- 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
- Full Elevator Modernization Completed in 2021
- Current Ownership Has Attentively Maintained the Property Leaving an Excellent Base for a New Owner to Make Further Enhancements
Exclusively Listed By
Financing By
Listing Price: $5,000,000
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
- Residents Are Within Close Proximity to Popular Local Amenities Such as The Wiltern Theater, MaDang Courtyard, Omni Plaza, City Center on 6th, The LINE Hotel, Chapman Plaza & More
- 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
- Full Elevator Modernization Completed in 2021
- Current Ownership Has Attentively Maintained the Property Leaving an Excellent Base for a New Owner to Make Further Enhancements
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
