Just Listed: 8-Unit Multifamily Investor’s Dream in the heart of Angelus Vista – $2,350,000
If you're searching for a multifamily property in Los Angeles that combines stable income with long-term redevelopment upside, look no further than 1415 S. St. Andrews Place, Los Angeles, CA 90019. This 8-unit pride-of-ownership apartment building is located in the heart of Angelus Vista, a rapidly growing neighborhood within the sought-after 90019 zip code, adjacent to Koreatown, Mid-Wilshire, and Harvard Heights.
Property Overview:
-
Address: 1415 S. St. Andrews Place, Los Angeles, CA 90019
-
Price: $2,350,000
-
Units: 8 total – 4 spacious 2-bed/1–2 bath units and 4 charming 1-bed/1-bath units
-
Building Size: 9,268 sq ft (vendor enhanced)
-
Lot Size: 13,166 sq ft
-
Zoning: R3 – ideal for redevelopment or adding density
-
Parking: 16 spaces (8 covered)
This 2-story traditional-style property has been well maintained, with several units remodeled to enhance tenant comfort. All units are individually metered, and the building features gated access, on-site parking, in-unit laundry, and separate hot water systems. It’s fully tenant-occupied with below-market rents, offering immediate value-add potential for savvy investors.
Financial Highlights:
-
Gross Scheduled Income: $142,792
-
Net Operating Income (NOI): $90,352
-
Cap Rate (Actual): 3.84%
-
GRM: 16.47
-
100% Rent Controlled
With a generous 13,166 square foot R3-zoned lot, this property also presents an excellent redevelopment opportunity. Whether your vision includes a new luxury condo development or a high-density multifamily project, the site is surrounded by newly built apartments and condos—offering strong market comps and resale potential.
Why Invest in 90019?
The 90019 zip code—especially Angelus Vista—has seen an influx of development thanks to its central location, walkability, and proximity to Koreatown’s bustling retail and restaurant scene. With easy access to Downtown LA, the Miracle Mile, and Culver City, it’s a location that continues to attract renters and developers alike.
Key Takeaways:
-
Ideal for long-term buy and hold, value-add repositioning, or ground-up development
-
Zoned LAR3 with a large lot footprint
-
Located in a high-growth, high-demand rental market
-
Fully occupied with immediate upside in rents
This is a rare opportunity to acquire a well-located income property with excellent bones and future potential in one of LA’s most promising multifamily submarkets.
Interested? Contact me today for more details of to submit an offer at christophe@christophechoo.com or (310)777-6342. Showings available with an accepted offer only