133 St Andrews Pl Los Angeles, CA 90004

This exceptional 8-unit apartment building, located at 133 S St Andrews Pl, Los Angeles, CA 90004, presents a compelling investment opportunity. Built in 1924 and completely renovated in 2022, this Spanish Colonial-style property boasts 5,980 square feet of living space situated on a 7,100 square foot lot. The building comprises two structures, two stories high, and features a mix of unit sizes: one two-bedroom, four one-bedroom, and three studio apartments. Each unit includes in-unit laundry, a new kitchen, updated bathroom, new hardwood floors, and fresh paint. Currently operating at 100% occupancy, the property generates a strong net operating income (NOI) of $141,801, resulting in a 4.73% capitalization rate. The asking price is $2,999,800, or $374,975 per unit. The property is zoned R3, offering significant value-add potential, including the possibility of converting approximately 400 square feet of existing storage into an additional dwelling unit (ADU). Furthermore, the Tier 2 R3 zoning allows for the potential expansion to a 14-unit complex. Located in the desirable Mid-Wilshire district's Larchmont Village, this property enjoys a Walk Score of 97, with proximity to the Wiltern Theatre, shops, restaurants, and entertainment venues. The upcoming Purple Line station adds further appeal to this already strong rental market. This is a rare chance to acquire a stabilized asset with substantial upside potential.