The James Group is proud to present 810 S. St. Andrews Pl. This 18 unit offering is located two blocks from the intersection of Wilshire Blvd and Western Ave surrounded by Koreatown’s finest restaurants and shops. The units are all very large one bedroom, one bath units averaging approximately 700sf. With market rents averaging $3.00/sf, a new owner can anticipate over $2,100/mo as market rent.
A new investor will be able to capture the approximately 35% loss-to-lease with modernizing units as they turn. The spacious units are unique for this vintage and will allow for top of the market rental rates.
The building is 100% copper plumbing. The roof was replaced 5 years ago. Additionally, the electrical has been upgraded including General Electric main panel.
This location also offers tenants access to the numerous public transportation options. A walk score of 97 makes this a “walker’s paradise” The Purple Line Metro Stop, currently being extended West to UCLA, is located two blocks away. On top of this, there are bus stops both on W. 8th Ave and Western Ave.
-The Property is located in Prime Koreatown. West of Western Ave and 2 blocks south of Wilshire Blvd.
-The site is located two block from the Wilshire and Western Purple Line Metro Stop.
-The investment offers 35% upside in rents allowing a new owner the ability to increase cash flow through renovation and unit turn.
