Property Detail

1645 St Andrews

Los Angeles CA 90019

$1,800,000

Status: Active

Property Details

Description

1645 S St Andrews Pl | 13-Unit Value-Add Multifamily, Mid-City Los Angeles. 1960-built asset totaling 6,827 SF on a 9,277 SF LAR3 lot, one block west of Western Avenue with Koreatown to the north and quick access to the I-10 and the Metro E Line's Expo/Western station. The property features (7) studios averaging 410 SF, (4) 1BR/1BA units averaging 600 SF, and (2) 2BR/1BA units averaging 765 SF, plus 10 on-site parking spaces. Twelve of 13 units are occupied, with in-place rents averaging $1,299 against $1,820 at market, a 40% gap, and one studio delivered vacant for immediate lease-up. Offered at $1,800,000 ($138,462/unit | $263.66/SF) with a 5.89% current cap rate, the real story is turnover: RSO units that reset to market at each vacancy, a 10.01% pro forma cap with no capital program assumed, and pricing 12% below the average of six recent comparable sales.

Map Location

Listing provided courtesy of Taylor Avakian of Lyon Stahl Investment Real Estate, Inc.. Last updated 2026-10-28 08:10:59.000000. Listing information © 2026 CRMLS.

The Lineup

The Lineup

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