James Torres - Commercial Real Estate Showcase

James Torres Property Listings
Sales Associate
RE/MAX Commercial & Investment Realty
550 S Hope St
Suite 500
Los Angeles, CA 90071-2627
(213) 817-1000
(213) 817-1001

371 N St Andrews Place

Los Angeles, CA 90004-3115 - East Hollywood MF Submarket

Property Type:Multi-Family Number of Units:4 Status:Existing Year Built:1921
Stories:- Building Size:4,888 SF Land Area:.17 AC (7,192 SF)
For Sale Price:$1,569,000 Price/Unit:$392,250.00 Cap Rate:4.28 % GRM:-

Parking:.82 Parking Spaces / 1,000 SF

Sale Notes:
Subject property is a 4 unit apartment building located in prime Mid-Wilshire, nestled between Koreatown and Larchmont Village. It is also near the Melrose corridor that offers countless popular cafes, famous restaurants, and trendy clothing stores. The unit mix is comprised of (4) Huge 2BD/1BA units. Each unit averages 1,222 square feet each and feature vaulted ceilings! 3 units are currently vacant and will be delivered vacant at the close of escrow. This will save the new owner significant capital when achieving market level rent. The property also offers four 1-car garages that can be rented for additional income. An astute investor has the opportunity to add-value to the property by upgrading the units with modern finishes and furnishings. The units can achieve a market rent upwards of about $1,900 each depending on the upgrades. Cap Rate reflects proforma/market Cap Rate. In addition, this property is an ideal Owner-User opportunity. The new owner can live in one of the large units and rent out the others to help pay for the mortgage. Contact the listing broker with any questions and additional information.

Located in prime Mid-Wilshire near the trendy Melrose corridor
Unit mix is comprised of (4) Huge 2BD/1BA units 1,222 sf each
Three units will be delivered vacant at the close of escrow
Four 1-car garages that can be rented for additional income
Excellent Value-add Investment Opportuniy
Also great Owner-User Opportunity; possible future single-family financing

RE/MAX Commercial & Investment Realty
James Torres
(213) 817-1000

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