Multifamily
406 S ST ANDREWS PL
406 S St Andrews Pl, Los Angeles, CA 90020
Listing Price: $2,475,000
Cap Rate
8.42%
Number of Units
11
GRM
7.67
Price/Unit
$225,000
Price/Gross SF
$227.73
Gross SF
10,868
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire 406 S St Andrews Pl, an 11-unit investment opportunity located in the highly desirable Koreatown neighborhood of Los Angeles.
406 S ST ANDREWS PL
Investment Highlights
- IMMEDIATE VALUE-ADD THROUGH VACANCIES - Four out of the eleven units are vacant, allowing near-term lease-up, rent growth, and renovation upside.
- RARE KOREATOWN PARKING + ON-SITE LAUNDRY - Built in the 1960s, the 10,868 SF building offers 20 on-site parking spaces—a premium in Koreatown—plus an oversized laundry room with large-capacity machine
- HIGHLY DESIRABLE UNIT MIX - (2) 1BR/1BA | (1) 1BR/1.5BA | (6) 2BR/2BA | (2) 4BR/4BA units, catering to a broad tenant demographic and strong long-term demand.
- SELLER FINANCING AVAILABLE - Ownership is open to providing attractive seller financing—significantly reducing the buyer's equity requirement, improving cash-on-cash returns, and allowing investors to lock in highly accretive debt at closing.
- PRIME KOREATOWN LOCATION - Centrally positioned north of Wilshire Blvd and west of Western Ave, steps from Chapman Plaza, The Wiltern, and Koreatown's premier dining and nightlife destinations including Park's BBQ, BCD Tofu House, and The Normandie Club.
- SIGNIFICANT INCOME POTENTIAL - The two 4BR/4BA units are currently operated as 8 single rooms (7 vacant, 1 rented @ $1,200/mo), creating an opportunity for Airbnb, coliving, or student housing repositioning.
- VALUE-ADD & REDEVELOPMENT POTENTIAL - LAR4 zoning and a 9,015 SF lot support adding up to 4 ADUs (buyer to verify) or pursuing a higher-density redevelopment strategy.
- UNMATCHED WALKABILITY & TRANSIT ACCESS - 406 S St Andrews Pl boasts a Walk Score of 97 ("Walker's Paradise") with nearby Wilshire/Western Metro Station (D Line) providing direct access to Downtown LA, Hollywood, and Beverly Hills.
Exclusively Listed By
Listing Price: $2,475,000
Cap Rate
8.42%
Number of Units
11
GRM
7.67
Price/Unit
$225,000
Price/Gross SF
$227.73
Gross SF
10,868
Investment Highlights
- IMMEDIATE VALUE-ADD THROUGH VACANCIES - Four out of the eleven units are vacant, allowing near-term lease-up, rent growth, and renovation upside.
- RARE KOREATOWN PARKING + ON-SITE LAUNDRY - Built in the 1960s, the 10,868 SF building offers 20 on-site parking spaces—a premium in Koreatown—plus an oversized laundry room with large-capacity machine
- HIGHLY DESIRABLE UNIT MIX - (2) 1BR/1BA | (1) 1BR/1.5BA | (6) 2BR/2BA | (2) 4BR/4BA units, catering to a broad tenant demographic and strong long-term demand.
- SELLER FINANCING AVAILABLE - Ownership is open to providing attractive seller financing—significantly reducing the buyer's equity requirement, improving cash-on-cash returns, and allowing investors to lock in highly accretive debt at closing.
- PRIME KOREATOWN LOCATION - Centrally positioned north of Wilshire Blvd and west of Western Ave, steps from Chapman Plaza, The Wiltern, and Koreatown's premier dining and nightlife destinations including Park's BBQ, BCD Tofu House, and The Normandie Club.
- SIGNIFICANT INCOME POTENTIAL - The two 4BR/4BA units are currently operated as 8 single rooms (7 vacant, 1 rented @ $1,200/mo), creating an opportunity for Airbnb, coliving, or student housing repositioning.
- VALUE-ADD & REDEVELOPMENT POTENTIAL - LAR4 zoning and a 9,015 SF lot support adding up to 4 ADUs (buyer to verify) or pursuing a higher-density redevelopment strategy.
- UNMATCHED WALKABILITY & TRANSIT ACCESS - 406 S St Andrews Pl boasts a Walk Score of 97 ("Walker's Paradise") with nearby Wilshire/Western Metro Station (D Line) providing direct access to Downtown LA, Hollywood, and Beverly Hills.
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire 406 S St Andrews Pl, an 11-unit investment opportunity located in the highly desirable Koreatown neighborhood of Los Angeles.
Exclusively Listed By
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