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127 S St Andrews Pl 20 Unit Apartment Building $4,490,000 ($224,500/Unit) 6.22% Cap Rate Los Angeles, CA 90004
Investment Highlights
- Prime Koreatown Location — One of LA's most active rental submarkets with strong long-term fundamentals
- Turn-Key & Easy to Manage — Professionally managed with utility sub-metering and water meters being added unit-by-unit
- First Time on Market in Decades | Trust Sale — No court confirmation required, priced to sell
- Stabilized Asset | 6.22% Cap Rate — Fully occupied with long-term tenants and consistent in-place cash flow
- Strong Upside — Below-market rents with room to grow, plus community laundry income
Executive Summary
First time on the market in decades — a rare opportunity to acquire a stabilized, well-managed Koreatown multifamily asset with strong in-place cash flow and meaningful upside.
This is a Trust Sale (no court confirmation required), and the Seller is highly motivated — priced to sell and open to moving quickly with a qualified buyer. A previously vacant unit has just been fully renovated and re-leased, pushing the property's actual in-place cap rate to 6.22% — a rare combination of immediate stabilized income and continued upside as additional units turn over.
The building features long-term tenants, ongoing unit-by-unit renovations, and utility sub-metering throughout — with water meters being added incrementally, directly improving NOI over time. A community laundry room and abundant gated parking add to tenant retention and operational appeal.
With a motivated Seller and flexible timeline, this asset is also well-suited for a 1031 Exchange buyer looking to move quickly. Ideal for a long-term hold with gradual, compounding value growth in one of LA's most supply-constrained submarkets.
This is a Trust Sale (no court confirmation required), and the Seller is highly motivated — priced to sell and open to moving quickly with a qualified buyer. A previously vacant unit has just been fully renovated and re-leased, pushing the property's actual in-place cap rate to 6.22% — a rare combination of immediate stabilized income and continued upside as additional units turn over.
The building features long-term tenants, ongoing unit-by-unit renovations, and utility sub-metering throughout — with water meters being added incrementally, directly improving NOI over time. A community laundry room and abundant gated parking add to tenant retention and operational appeal.
With a motivated Seller and flexible timeline, this asset is also well-suited for a 1031 Exchange buyer looking to move quickly. Ideal for a long-term hold with gradual, compounding value growth in one of LA's most supply-constrained submarkets.
Property Facts
| Price | $4,490,000 | Apartment Style | Low-Rise |
| Price Per Unit | $224,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.33 AC |
| Cap Rate | 6.22% | Building Size | 14,520 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.38 | No. Stories | 2 |
| No. Units | 20 | Year Built | 1961 |
| Property Type | Multifamily | Parking Ratio | 1.58/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LAR3 - Multiple Dwelling Zone; Mulitfamily | ||
| Price | $4,490,000 |
| Price Per Unit | $224,500 |
| Sale Type | Investment |
| Cap Rate | 6.22% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 11.38 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 14,520 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.58/1,000 SF |
| Zoning | LAR3 - Multiple Dwelling Zone; Mulitfamily |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | - |
| 2+2 | 4 | - | - |
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5516-022-017 | Improvements Assessment | $1,632,647 |
| Land Assessment | $750,631 | Total Assessment | $2,383,278 |
Property Taxes
Parcel Number
5516-022-017
Land Assessment
$750,631
Improvements Assessment
$1,632,647
Total Assessment
$2,383,278
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127 S St Andrews Pl
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