Est. cap rate

2.5%

Assumed rent, all units

$9,800/mo

Units

4

Price per unit

$587,500

Est. annual NOI

$58,800

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Quadruplex

Bedrooms

4

Building size

4,843 sqft

Lot size

5,067 sqft

Year built

2015

Stories

3

Garage spaces

4

Heating

Central

Cooling

Central Air

Pool

None

View

Neighborhood

Status

Active

Days on market

1

MLS #

246663364

About this property

523 N St Andrews Pl is a 2015-built fourplex located in prime Larchmont Village. The property delivers a strong 5.42% cap rate, approximately ten years of established rental history, and a stabilized income stream. The property features a desirable unit mix consisting of three 3-bedroom residences and one 2-bedroom residence. Each unit offers in-unit laundry, modern, easy-to-maintain finishes, and spacious, functional floorplans. The residences are noticeably larger than many brand-new units being delivered today, with generous kitchens, comfortable living areas, and oversized bedrooms that enhance their long-term rental appeal. Current rents include $3,715 per month for a 3-bedroom unit, $3,701 per month for a 3-bedroom unit, and $2,992 per month for the 2-bedroom unit. One 3-bedroom residence is currently vacant, creating the opportunity for an owner-user or an investor to lease the unit at market rent. The property’s established operating history and strong occupancy provide a reliable foundation for long-term income. Situated in East Larchmont, between Hancock Park and Hollywood, the property is very close to neighborhood restaurants and destinations including Antico Nuovo, Found Oyster, Levain Bakery, Max & Helen’s, Budonoki and Courage Bagels. Erewhon, Larchmont Village, Hollywood and Los Feliz are also easily accessible. The central location provides convenient access to major employment centers including Netflix, Paramount Studios, Kaiser Permanente Los Angeles Medical Center and Sunset Gower Studios, supporting demand from renters seeking newer construction, spacious layouts and proximity to some of central Los Angeles’s most desirable dining, shopping and entertainment. With its proven operating history, desirable unit mix, spacious floorplans and central East Larchmont location, 523 N St Andrews Pl presents an opportunity to acquire a dependable income-producing asset in one of Los Angeles’s most established rental markets.

Location

523 N St Andrews

Los Angeles, Los Angeles, CA, 90004