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Diego Magdaleno

diego@1visionproperties.com +1(714) 676-7271

$4,050,000

Est. payment - /mo

21 Beds

21 Baths

15,606 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 15,606 sqft

Price per Sqft $259

MLS Listing ID 25582121

Bedrooms 21

HOA Y/N No

Year Built 1971

Lot Size 8,489 Sqft

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 manager who has vacated the building. Broker has not independently verified the nature or details of the legal proceedings. Buyer is strongly advised to conduct their own due diligence, including a review of all relevant court documents, with counsel of Buyer's choosing. Buyer acknowledges they may not rely on any statements or information provided by Broker. Broker makes no representations or warranties regarding the status, substance, potential outcomes, or financial, legal, or property implications of any legal proceedings. Buyer assumes sole responsibility for the evaluation of these matters.

Location

State CA

County Los Angeles

Area C18 - Hancock Park-Wilshire

Zoning LAR3

Interior

Fireplace No

Exterior

Parking Features Garage

Total Parking Spaces 21

Building

Story 3

Entry Level Three Or More

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 5516022023

Special Listing Condition Standard

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Listed by Sean Rosenzweig Marcus & Millichap

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161 S St Andrews PL Los Angeles, CA 90004