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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

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Price

$2,300,000

Annual Income

$617,184

Annual NOI

$409,479

Annual Expense

$185,246

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
1111$2,450$26,950$2,450$26,950
311$2,450$7,350$2,450$7,350
411$2,550$10,200$2,550$10,200
101$1,800$1,800$1,800$1,800
121$2,850$2,850$2,850$2,850
101$461$461$461$461
101$768$768$768$768
111$1,053$1,053$1,053$1,053
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
2368$51,432$51,432

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