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1310 S. St Andrews Place
Los Angeles, CA 90019


Property Details

Address:              1310 S. St Andrews Pl

Price:                    $2,850,000

Property Type:     Development   

Lot Size:               13,141 SF

Location:                      Mid City

Building Size:               26,862 SF

Number of Units:         43

Zoning:                         LAC2

The Mayelian Apartment Group is pleased to present 1310 S St. Andrews Place in Mid-City. Great opportunity to develop 43 units adjacent to Koreatown. With 35% down payment for 3 years, the seller will carry financing. Excellent price per unit of approximately $66k. 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 approximately $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!

Anie Mayelian
Phone: (818) 915-9118

Aleen Mayelian

Phone: (818) 442-1678
Contact Information
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