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406 S St Andrews Pl, Los Angeles, CA 90020
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406 S St Andrews Pl Los Angeles, CA 90020

$3,675,000 Sold Price as of 05/06/2022
  • 17 Beds
  • 17 Baths
  • 10,868 Sq.Ft.
Sold
$3,675,000 Sold Price as of 05/06/2022 Refinance Your Mortgage
Map preview of 406 S St Andrews Pl, Los Angeles, CA 90020

Property Overview: 406 S St Andrews Pl Los Angeles, CA has 17 bedrooms, 17 bathrooms, 10,868 living square feet and 9,015 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: OVERBID HEARING SCHEDULED ON FRIDAY APRIL 15, 2022. OPENING BID WILL BE $3,725,000. 406 S St Andrews Place is in the most desirable part of Koreatown between Wilshire Boulevard, 3rd Street, Western, and S. Rossmore Ave. Those in the know will confirm that this is considered prime Koreatown. As a result, 406 S St Andrews Place continues to capitalize on the tremendous growth that Koreatown enjoys. In addition, the subject property's transit-oriented and highly walkable (95 Walk score) location offers residents access to various entertainment venues, cultural destinations, dining options, and employment centers nearby.The asset, built-in 1960, is reflective of the architectural character from that era and features Six (6) Two Bedroom + Two Bathroom units, Four (4) One-Bedroom + One Bathroom units, and One (1) One-Bedroom +One and a half Bathroom unit for a total of eleven units. 406 S St Saint Andrews place consists of 10,868 sq. Ft. and resides on a 9,015 sq. Ft. lot.Two units will be delivered vacant, which is ideal for apartment operators seeking an actual value add opportunity to reposition a multifamily asset to obtain a higher yield. In addition, the lack of inventory in the immediate area, low-interest rates, and the value-add component should entice even the most discerning investors.

Listed by David Weinberger | BRE #01349349 | Keller Williams Studio City
Co-listed by Megan Husri | BRE #02089901 | Keller Williams Studio City
Last checked: 4 minutes ago | Last updated: February 20th, 2024 | Source CRMLS | DOM: 34

Home details

Lot Sq. Ft
9,015
HOA Dues
$0/mo
Year built
1960
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22126659
City
Los Angeles
County
Los Angeles
Time on Site
827 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 11
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,028
  • Total Rent: $12,166
  • Pro Forma/Market Rent: $14,532
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,653
  • Total Rent: $6,612
  • Pro Forma/Market Rent: $7,300
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,214
  • Total Rent: $1,214
  • Pro Forma/Market Rent: $1,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4%
  • Gross Rent Multiplier: 16.2
  • Gross Scheduled Income: --
  • Net Operating Income: $130,400
  • Gross Operating Income: $200,059
Annual Expense Breakdown
  • Total Operating Expense: --

Virtual Tour

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Property Details for 406 S St Andrews Pl

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Forced Air
Laundry Information
  • Has Laundry
  • Community
Room Information
  • Flooring: Wood, Tile, Carpet
  • Living Room
Kitchen Information
  • Has Appliances
  • Dishwasher, Oven, Range
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 11
  • Has Parking
  • Parking Features: Assigned, Covered
Property Information
  • Has View
  • Total # of Units: 11
  • Parcel Number: 5503016019
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Cross Streets: S St Andrews Pl & W 4th St
View more facts & features

Local Los Angeles Agent

Sale History for 406 S St Andrews Pl

Last sold for $3,675,000 on May 6th, 2022

  • February, 2024

  • Feb 20, 2024

    Date

    Expired

    CRMLS: 23301947

    $4,095,000

    Price

  • Aug 17, 2023

    Date

    Active

    CRMLS: 23301947

    $4,200,000

    Price

  • Listing provided courtesy of CRMLS

    Excellent Location! Situated in the vibrant heart of Korea Town, this property boasts an 11-unit Apartment Buildingthat faces the West and North directions. Positioned within Korea Town's premier rental market, there is significant potential for increased rental yields. The upgraded units showcase an inviting Open Floor Plan, flooded with naturallight, and boasting contemporary kitchen designs. Each unit includes a covered parking space and hassle-free access to a Gated Parking area. The property offers exceptional convenience, as its within easy walking distance of renowned restaurants, supermarkets, pharmacies, shops, schools, entertainment venues, and Metro Stations. Additionally, the building holds promising prospects and growth potential, with numerous trendy developments and constructions in progress nearby. This presents a remarkable opportunity for property value appreciation in the near future.

  • May, 2022

  • May 6, 2022

    Date

    Sold

    CRMLS: 22126659

    $3,675,000

    Price

  • Feb 10, 2022

    Date

    Active

    CRMLS: 22126659

    $3,300,000

    Price

  • September, 2020

  • Sep 16, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • January, 2020

  • Jan 16, 2020

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 406 S St Andrews Pl

Assessed Value (2020): $910,245
Year Land Value Improved Value Assessed Value
2020 $480,209 $430,036 $910,245

Home Value Compared to the Market

This property vs the competition

406 S St Andrews Pl sold on May 6, 2022 for 177.31% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $303.64 per/sqft which puts the price per square foot 59.78% lower than the current median sale per square foot for the city of Los Angeles.

About 406 S St Andrews Pl

Detailed summary of property

406 S St Andrews Pl is a multi family that recently sold in Los Angeles, CA 90020. This multi family property offered 17 bedrooms, 17 bathrooms, roughly 10,868 living square feet, and sits on an approximately 9,015 square foot lot. 406 S St Andrews Pl was first listed on ArdentRealEstateGroup.com on February 11, 2022. The homeowner sold the property for $3,675,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 177.31% higher than the current median priced home. Local homes that are currently for sale include 1532 S Wilton Pl, 1554 S Gramercy Pl and 933 N Mariposa Ave. While the average home in Los Angeles, CA is selling in 92 days, 406 S St Andrews Pl has a days on market of 34 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 406 S St Andrews Pl Los Angeles, CA 90020 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 406 S St Andrews Pl

Public county record property details
Beds
17
Baths
18
Year built
1960
Sq. Ft.
10,868
Lot Size
9,014
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
113
APN
5503-016-019

The source for these homes facts are from public records.

90020 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$790,000
Median List Price/Sq.Ft.
$653
Median Sold Price
$520,000
Median Sold Price/Sq.Ft.
$702
Total Inventory
50
Median Sale to List Price %
104%
Avg Days on Market
43
Loan Type
Conventional (36.36%), FHA (0%), VA (0%), Cash (9.09%), Other (18.18%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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