1619 St Andrews Pl, Los Angeles 90019
8,920 square foot lot with 4-unit MFR structure to be delivered with permits ready to issue (RTI) plans for 23 residential units. Excellent location on a quiet residential street in the high demand Arlington Heights neighborhood of Mid-City Los Angeles. SB-8 exempt. Developer-friendly parking configuration with 12 first level covered spaces and bike storage (no subterranean parking). Strong deal economics with a projected exit value of $9,500,000 and 16,824 finished square feet. Attractive IRR possible through immediate ability to start construction after close. 4-Unit multi-family existing property allows for attractive purchase financing.
Property Details
- Units: 23
- Gross Rent Multiplier: 15.19
- Cap Rate: 4.3
Download Offering Memorandum
Contact Listing AgentPrice
$2,300,000
Annual Income
$617,184
Annual NOI
$409,479
Annual Expense
$185,246
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 11 | 1 | 1 | $2,450 | $26,950 | $2,450 | $26,950 |
| 3 | 1 | 1 | $2,450 | $7,350 | $2,450 | $7,350 |
| 4 | 1 | 1 | $2,550 | $10,200 | $2,550 | $10,200 |
| 1 | 0 | 1 | $1,800 | $1,800 | $1,800 | $1,800 |
| 1 | 2 | 1 | $2,850 | $2,850 | $2,850 | $2,850 |
| 1 | 0 | 1 | $461 | $461 | $461 | $461 |
| 1 | 0 | 1 | $768 | $768 | $768 | $768 |
| 1 | 1 | 1 | $1,053 | $1,053 | $1,053 | $1,053 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 23 | 6 | 8 | $51,432 | $51,432 |
Let’s Discuss This Property
Please fill out the form below and we’ll get back to you as soon as we can.
