We are pleased to offer for sale a 21-unit apartment community located at 161 South St Andrews Place. The subject property is located just south of Beverly Boulevard, three blocks away from Larchmont Village - one of LA's most distinct and well-regarded neighborhoods. The property is comprised of one three story building, situated on an 8,490 square foot parcel. Consisting entirely of one-bedroom units, the layouts are spacious and feature patios (86% of units), A/C units and on-site parking for every unit. New Ownership will have the opportunity to add tremendous value as there is 37% remaining rental upside through interior renovations. As a result of the neighborhood's charm and desirability, there is robust demand for housing and long-term rent growth. The asset's location along with the value-add potential for a new owner make 161 South St Andrews an excellent acquisition opportunity. Disclosure of Legal Proceedings Ownership is currently involved in the following legal matters involving the property: Tenant Habitability Lawsuit: Los Angeles Superior Court Case No. 24STCV03171 Durwood v. Waheed, involving Unit #105 who still resides at the building. Employment-Related Lawsuit: Los Angeles Superior Court Case No. 23STCV03290 Durwood v. Canul, filed by the former on-site manager who has vacated the building. Broker has not independently verified the nature or details of the legal proceedings. Buyer is strongly advised to conduct their own due diligence, including a review of all relevant court documents, with counsel of Buyer's choosing. Buyer acknowledges they may not rely on any statements or information provided by Broker. Broker makes no representations or warranties regarding the status, substance, potential outcomes, or financial, legal, or property implications of any legal proceedings. Buyer assumes sole responsibility for the evaluation of these matters. PLEASE DO NOT DISTURB TENANTS
Details
MLS #
25582121
Listing Type
For Sale
Sub-Type
Resale
Status
Pending
Year
1971
Days On Site
375
Listing Provided By
Marcus & Millichap | Sean Rosenzweig
Features
Bed(s)
21
Bath(s)
21
SQ Feet
15,606
Story(s)
3
Units
21
Building(s)
1
Zoning
LAR3
Acreage
0.19
Parking
Parking Features
Garage
Garage Yes / No
Yes
Area Information
State
CA
County
Los Angeles
City
Los Angeles
Zip Code
90004
Area
C18 Hancock Park Wilshire
Sourced by Back At You
MLS#: 25582121 Listed By: Sean Rosenzweig - Marcus & Millichap - 3109095500-
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MLS#: 25582121 Listed By: Sean Rosenzweig - Marcus & Millichap - 3109095500-
