127 S St Andrews Pl Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90004
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 14,520 sqft
Price per Sqft $309
MLS Listing ID 25613491
Bedrooms 24
Year Built 1961
Lot Size 0.326 Acres
Acres 0.3261
Property Sub-Type Multi-Family
Property Description
Price Recently Reduced! First time on the market in over 30 years, this well-maintained Koreatown multifamily asset long owned and operated by the same family trust now offers even greater value following a recent price reduction. The property currently has one vacant unit (previously two as of early 2024), and ownership is actively negotiating a new lease at approximately $1,980, providing immediate upside and additional income potential for the next investor. Ideally located just south of Beverly Blvd and east of Western Ave, the property is positioned in one of Koreatown's most desirable multifamily corridors, with a nearby Metro station and premier amenities only minutes away. Situated on an expansive 14,201 SF lot, the building includes rare on-site surface parking highly sought-after in Koreatown. Zoned LAR3, the site also offers future redevelopment potential, creating multiple exit strategies and enhancing long-term value. With a submarket vacancy rate of just 3% and strong historical rent growth, this asset is located in a high-demand rental area. Current rents remain significantly below market, presenting 2030% upside through interior renovations and unit repositioning. This is an ideal value-add opportunity for investors seeking stable cash flow, near-term income growth, and long-term appreciation. Perfect for 1031 exchange buyers, private investors, or owner-users seeking secure, inflation-hedged returns in a central Los Angeles location.
Location
State CA
County Los Angeles
Area Hancock Park-Wilshire
Zoning LAR3
Interior
Laundry Laundry Area
Exterior
Garage Spaces 20.0
Building
Story 2
Water District
Others
Special Listing Condition Standard