826 S St Andrews Pl

826 S St Andrews Pl Los Angeles, CA 90005

FOR SALE Incentives
Property Type:
MultiFamily Apartments
Amount:
$2,000,000
Last Verified:
Dec 07, 2017

Highlights

  • Prime-Koreatown
  • Value-Add with Great Unit Mix
  • Walk Score 96
  • High Demand Market- Huge Rental Potential Upside
  • 7500 sqft. lot zoned LAR4

Description

Rosano Partners is pleased to present the opportunity to acquire a six unit apartment building in the prime Wilshire Center - Koreatown neighborhood of Los Angeles. Built in 1953, the subject property offers a unit mix of 2 two- bedroom and one-bathroom and 4 one- bedroom and one-bathroom. Gas and electricity are separately metered while water is mastered. The construction is made up of stucco and wood-frame and accommodates 6 parking spots for on-site tenants. With rents being below the market in a location that is continuing to gentrify, a savvy investor can understand why they don’t want to miss this opportunity.

The subject property is situated on 826 S St Andrews Pl less than a mile from Metro Purple line. The property lies near the intersection of S Western Ave and W 8th Street. Being less than a mile from many schools, restaurants, and entertainment options, the subject property allows tenants to benefit from the local offerings and transportation.


Year Built: 1953
Building Size: 4788.0sq ft
Lot Size: 0.17 acres

Map of 826 S St Andrews Pl , Los Angeles, CA, 90005

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.