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523 N St Andrews Pl
Los Angeles, CA 90004
Multifamily Property For Sale
·
4 Units
Investment Highlights
- 2015-built fourplex with 10 years of proven rental history.
- Larger floorplans that outperform typical new construction.
- All units separately metered for electric and water, low operating expenses!
- Outstanding stabilized cap rate of 5.42%.
- Walkable Larchmont Village location steps to Michelin dining, Erewhon, and Silver Lake.
- Property management services can easily be transferred to new owner, hassle free and income generating on day 1!
Executive Summary
The 2–4 Unit Specialists are pleased to present 523 N St Andrews Pl, a 2015-built fourplex located IN Larchmont Village. The property delivers a strong 5.42% cap rate, approximately ten years of established rental history, and a stabilized income stream. The property features a desirable unit mix consisting of three 3-bedroom residences and one 2-bedroom residence. Each unit offers in-unit laundry, modern, easy-to-maintain finishes, and spacious, functional floorplans. The residences are noticeably larger than many brand-new units being delivered today, with generous kitchens, comfortable living areas, and oversized bedrooms that enhance their long-term rental appeal. Current rents include $3,715 per month for a 3-bedroom unit, $3,701 per month for a 3-bedroom unit, and $2,992 per month for the 2-bedroom unit. One 3-bedroom residence is currently vacant, creating the opportunity for an owner-user or an investor to lease the unit at market rent. The property’s established operating history and strong occupancy provide a reliable foundation for long-term income. Situated in East Larchmont, between Hancock Park and Hollywood, the property is very close to neighborhood restaurants and destinations including Antico Nuovo, Found Oyster, Levain Bakery, Max & Helen’s, Budonoki and Courage Bagels. Erewhon, Larchmont Village, Hollywood and Los Feliz are also easily accessible. The central location provides convenient access to major employment centers including Netflix, Paramount Studios, Kaiser Permanente Los Angeles Medical Center and Sunset Gower Studios, supporting demand from renters seeking newer construction, spacious layouts and proximity to some of central Los Angeles’s most desirable dining, shopping and entertainment. With its proven operating history, desirable unit mix, spacious floorplans and central East Larchmont location, 523 N St Andrews Pl presents an opportunity to acquire a dependable income-producing asset in one of Los Angeles’s most established rental markets.
Property Facts
| Price Per Unit | $810,967 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 5.42% | Lot Size | 0.12 AC |
| Gross Rent Multiplier | 13.83 | Building Size | 4,843 SF |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2015 |
| Property Subtype | Apartment | Parking Ratio | 1.65/1,000 SF |
| Zoning | LAR3 - Multiple Dwelling | ||
| Price Per Unit | $810,967 CAD |
| Sale Type | Investment |
| Cap Rate | 5.42% |
| Gross Rent Multiplier | 13.83 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 4,843 SF |
| No. Stories | 3 |
| Year Built | 2015 |
| Parking Ratio | 1.65/1,000 SF |
| Zoning | LAR3 - Multiple Dwelling |
Amenities
Unit Amenities
- Refrigerator
- Oven
Site Amenities
- Laundry Facilities
- Tenant Controlled HVAC
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 1 | $4,130 CAD | 1,000 |
| 3+2 | 2 | $4,383 CAD | 1,263 - 1,280 |
| 3+2.5 | 1 | $5,109 CAD | 1,300 |
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