523 N St Andrews St, Larchmont
75% LEASED, 2015 FOURPLEX W/ 10 YEARS OF PROVEN RETURNS
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. 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 Important
Details
List Price:
Property Type:
Status:
# Units:
Year Built:
Cap Rate:
GRM:
Gross Rent:
Bldg. SF:
Lot SF:
$/SF:
$/Unit:
Unit Mix:
Opportunity Zone:
Parking:
Rent Control:
$2,350,000
Fourplex
Pre-Market
4
2015
5.42%
13.83
$172,788/Year
4,843 sqft
5,067 sqft
$485.24
$587,500
1x 3b/2.5b, 2x3b/2b, 1x2b/1.5b
No
8 Parking Spaces
No
Other Features:
No Rent Control, 10 Years Proven Income
The Highlights
2015-built fourplex with 10 years of proven rental history.
Outstanding stabilized cap rate of 5.42%.
Larger floorplans that outperform typical new construction.
Walkable Larchmont Village location steps to Michelin dining, Erewhon, and Silver Lake.
All units separately metered for electric and water, low operating expenses!
Property management services can easily be transferred to new owner, hassle free and income generating on day 1!
Turnkey 1031 exchange opportunity, ready to close now!
Surrounded by major employment hubs like Netflix HQ, Paramount Studios, Kaiser, Childrens Hospital, and Sunset & Gower Studios.
Already a well-run, stabilized asset with long-term tenants in place, all the early kinks have been worked out, making this a truly turnkey investment.
The Neighborhood
<15-Minute Walk
Paramount Studios, Cafe Gratitude,Osteria Mamma, Mario's Peruvian & Seafood, TONCHIN LA, Alfalfa, Le Coupe, La Fonda Antioquena, PauHaus Art Gallery + Events, Daves Hot Chicken, WaBa Grill, ORGANICO, Hollywood Forever Cemetery
<15-Minute Drive
Great White, Salt & Straw, MALIN+GOETZ, Go Get Em Tiger, Rite Aid, Starbucks, Clark Street, Kreation, Trader Joe’s, Ralphs, Chipotle, Levain Bakery, Noah's NY Bagels, Groundwork Coffee Co., Le Pain Quotidien, Sweetfin Poke, Village Pizzeria, Jeni's Ice Creams
<$15 Uber Ride
Universal CityWalk Hollywood, Hollywood Bowl, The Ford,The Grove Hollywood Walk of Fame, Erewhon, Koreatown, Los Angeles County Museum of Art, Cinespia, Paramount Theatre, Silver Lake, Whole Foods Market
Property Presented By:
