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1310 S St Andrews Place

Los Angeles, CA 90019
  • $2,950,000
  • STATUS: Active
  • ON SITE: 25 Days
  • ID#: SR22230239
Price Reduced
UPDATED: 67 min ago
$2,950,000
  • 0
    BEDS
  • 0.3
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Description

We are pleased to present 1310 S St. Andrews Place in Mid-City. Huge price reduction of $300,000! Price per unit is approximately $68k for an excellent opportunity to develop 43 units adjacent to Koreatown. Based on recent sales, an investor will have an incredible return on their investment! The completed building may have an approximate value of $18 million, thereby generating a net profit of around $4.5 million (approximately 33% profit ratio) to an investor if sold. The projected gross annual rental income will also be over $1.1 million. The 13,141 sq. foot lot is fully entitled and the owners are just months away from attaining ready to issue (RTI) permits! The building will feature subterranean parking, a beautiful lobby, elevator, bicycle room, and rooftop deck with a view of the City. The building will consist of ten 2 bedroom/2 bath units, twenty-eight 1 bedroom/1 bath units, and five singles. The units will range from approximately 400-860 sq. ft each and the rentable sq. ft. of the finished building will be about 26,862 sq. ft. This is a rare opportunity not to be missed!

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Based on information from CRISNet MLS as of 2022-11-26T06:56:25.853. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2022-11-26T06:56:25.853. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.trulinerealty.com/homes/134396228
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1310 S St Andrews Place Los Angeles, CA 90019

  • Price: $2,950,000
  • Status: Active
  • On Site: 25 Days
  • Updated: 67 min ago
  • ID#: SR22230239
0
Beds
0
Baths
0
½ Baths
0.3
Acres
Neighborhood:
C16 - Mid Los Angeles
County:
Los Angeles
Area:
C16 - Mid Los Angeles
Property Description
We are pleased to present 1310 S St. Andrews Place in Mid-City. Huge price reduction of $300,000! Price per unit is approximately $68k for an excellent opportunity to develop 43 units adjacent to Koreatown. Based on recent sales, an investor will have an incredible return on their investment! The completed building may have an approximate value of $18 million, thereby generating a net profit of around $4.5 million (approximately 33% profit ratio) to an investor if sold. The projected gross annual rental income will also be over $1.1 million. The 13,141 sq. foot lot is fully entitled and the owners are just months away from attaining ready to issue (RTI) permits! The building will feature subterranean parking, a beautiful lobby, elevator, bicycle room, and rooftop deck with a view of the City. The building will consist of ten 2 bedroom/2 bath units, twenty-eight 1 bedroom/1 bath units, and five singles. The units will range from approximately 400-860 sq. ft each and the rentable sq. ft. of the finished building will be about 26,862 sq. ft. This is a rare opportunity not to be missed!
Exterior Features

Lot Features Lot 10000-19999 Sqft Lot Size Area 13141.0000 View None View YN No

Property Features

Additional Parcels YN No Association Fee 0.00 Association YN No Common Interest None Community Features CurbsSidewalksStorm DrainsStreet Lights Land Lease YN No New Construction YN No Senior Community YN No Special Listing Conditions Standard Water Source Public Zoning Lac2

Listing provided courtesy of Anie Mayelian, CA DRE# 00778825, of Keller Williams Encino-Sherman: 818-380-5100.


Based on information from CRISNet MLS as of 2022-11-26T06:56:25.853. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2022-11-26T06:56:25.853. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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TruLine Realty
2999 Overland Ave., Suite 116
Los Angeles CA, 90064