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839 S St. Andrews Pl 31 Unit Apartment Building £3,658,034 (£118,001/Unit) 5.33% Net Initial Yield Los Angeles, CA 90005
INVESTMENT HIGHLIGHTS
- 31 Units- Strong Korea Town Loca?tion West of Western Avenue
- Grand Lobby With Secured Entrance
- In Proximity to a Myriad of Local K-Town Dining, Shopping and Entertainment Destinations including Chapman Plaza, The Line, Quarters KBBQ, and Many Mo
- Charming Hollywood Style Building
- Elevator & Onsite Laundry
- Property is Master Metered for Electric & Gas
EXECUTIVE SUMMARY
Located in the heart of a vibrant Koreatown pocket, 839 S. St Andrews Place offers a rare opportunity to acquire a charming, 31-unit multifamily property west of Western Avenue, just steps from the prestigious Hancock Park neighborhood. Built in 1929, this Hollywood-style architectural gem exudes timeless character, featuring a grand lobby with a secured entrance, an elevator, and on-site laundry facilities for tenant convenience.
The property comprises a desirable unit mix of 23 studio apartments and 8 one-bedroom, one-bathroom (1+1) units, catering to a diverse tenant base in one of Los Angeles’ most dynamic and sought-after submarkets. With a Walk Score of 95, residents enjoy unparalleled access to Koreatown’s renowned dining, shopping, and entertainment options, including Chapman Plaza, The Line Hotel, and Quarters KBBQ, as well as proximity to local cultural and lifestyle destinations.
Strategically positioned in a high-demand rental market, 839 S. St Andrews Place combines historic appeal with modern livability, making it an attractive asset for investors seeking stable cash flow and long-term value appreciation. Its prime location, strong walkability, and proximity to both Koreatown’s bustling core and the upscale Hancock Park area further enhance its investment potential.
This offering represents a unique chance to own a well-maintained, character-driven property in a thriving urban neighborhood poised for continued growth
The property comprises a desirable unit mix of 23 studio apartments and 8 one-bedroom, one-bathroom (1+1) units, catering to a diverse tenant base in one of Los Angeles’ most dynamic and sought-after submarkets. With a Walk Score of 95, residents enjoy unparalleled access to Koreatown’s renowned dining, shopping, and entertainment options, including Chapman Plaza, The Line Hotel, and Quarters KBBQ, as well as proximity to local cultural and lifestyle destinations.
Strategically positioned in a high-demand rental market, 839 S. St Andrews Place combines historic appeal with modern livability, making it an attractive asset for investors seeking stable cash flow and long-term value appreciation. Its prime location, strong walkability, and proximity to both Koreatown’s bustling core and the upscale Hancock Park area further enhance its investment potential.
This offering represents a unique chance to own a well-maintained, character-driven property in a thriving urban neighborhood poised for continued growth
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
£399,680
|
£18.63
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£11,990
|
£0.56
|
| Effective Gross Income |
£387,690
|
£18.07
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£192,608
|
£8.98
|
| Net Operating Income |
£195,082
|
£9.09
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £399,680 |
| Annual Per sq ft | £18.63 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Vacancy Loss | |
|---|---|
| Annual | £11,990 |
| Annual Per sq ft | £0.56 |
| Effective Gross Income | |
|---|---|
| Annual | £387,690 |
| Annual Per sq ft | £18.07 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Total Expenses | |
|---|---|
| Annual | £192,608 |
| Annual Per sq ft | £8.98 |
| Net Operating Income | |
|---|---|
| Annual | £195,082 |
| Annual Per sq ft | £9.09 |
PROPERTY FACTS
| Price | £3,658,034 | Apartment Style | Mid-Rise |
| Price Per Unit | £118,001 | Costar Property Class | C |
| Sale Type | Investment | Total Plot Size | 0.17 ac |
| Yield | 5.33% | Property Size | 21,456 sq ft |
| Gross Rent Multiplier | 9.15 | Average Occupancy | 100% |
| No. Units | 31 | No. Floors | 4 |
| Property Type | Build-to-Rent | Year Built | 1929 |
| Property Subtype | Apartment | ||
| Use Class | R3, Los Angeles - residential | ||
| Price | £3,658,034 |
| Price Per Unit | £118,001 |
| Sale Type | Investment |
| Yield | 5.33% |
| Gross Rent Multiplier | 9.15 |
| No. Units | 31 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.17 ac |
| Property Size | 21,456 sq ft |
| Average Occupancy | 100% |
| No. Floors | 4 |
| Year Built | 1929 |
| Use Class | R3, Los Angeles - residential |
AMENITIES
UNIT AMENITIES
- Balcony
- Heating
- Kitchen
- Oven
- Range
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Vintage Building
- Lift
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| Studios | 23 | - | 480 |
| 1+1 | 8 | - | 800 |
1 1
Walk Score®
Excellent pedestrian access (95)
Transit Score®
Excellent Public Transport (77)
PROPERTY TAXES
| Parcel Number | 5092-024-005 | Improvements Assessment | £1,433,165 (2025) |
| Land Assessment | £3,344,053 (2025) | Total Assessment | £4,777,218 (2025) |
PROPERTY TAXES
Parcel Number
5092-024-005
Land Assessment
£3,344,053 (2025)
Improvements Assessment
£1,433,165 (2025)
Total Assessment
£4,777,218 (2025)
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839 S St. Andrews Pl
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