This prime 18-unit multi-family development site is located in Hancock Park, Los Angeles, at 105 S St Andrews Place. The development is currently under construction and the concrete podium has been completed. The location of the site is highly desirable, with close proximity to Downtown Los Angeles, Beverly Hills, and Hollywood. Residents will have easy access to endless local attractions, as well as a variety of restaurants and bars in the area.
This Development offers three (3) one-bedroom two-bath affordable housing units measuring approximately 888 square feet, one (1) one-bedroom two-bath unit measuring approximately 888 square feet, four (4) one-bedroom two-bath apartments each measuring approximately 917 square feet, five (5) two-bedroom two-bath units each measuring approximately 870 square feet, and five (5) two-bedroom two-bath units each measuring approximately 888 square feet. There are fourteen (14) parking spaces, single-level subterranean garage. The average unit size is approximately 889 square feet. Three (3) units are designated for affordable housing (ELI).
The gym on the ground floor has the potential to be converted into an apartment through the ADU ordinance. Additionally, the one-bedroom apartments with two bathrooms have identical floor plans to the two-bedroom apartments with two bathrooms, which means there is a possibility to eventually convert these one-bedroom units into two-bedrooms. This presents a unique opportunity for those interested in investing in this property.
