702 S St Andrews Place

    Los Angeles (City), CA 90005
    • $4,999,999
    • STATUS: Active Under Contract
    • ON SITE: 96 days
    • ID#: OC18217041
    Under Contract
    UPDATED: 8 min ago
    $4,999,999
    • 0
      BEDS
    • 0.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 10,082
      SQFT
    • $496
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1957
    County:

    School Ratings & Info

    Description

    The Royce is a beautifully remodeled 16 unit apartment building that is located in trendy and dynamic Koreatown. All 16 units interiors, exteriors and common areas have been remodeled to condo quality. The complex has been re-branded with strategic exterior enhancements and details. Spacious and efficient floor plans with well-appointed living areas. The subject property consists of a two story wood frame apartment complex built in 1957 and completely renovated in 2017. Unit mix of 8 one bedroom one bath and 8 studios all with modern kitchens, stainless steel appliances, upgraded bathrooms with tiled bathrooms and luxury fixtures. New roof, windows, cabinets, laminate flooring, recessed lighting, new copper plumbing, quartz counter tops, landscaping and exterior paint. The building is walking distance to popular Koreatown shops, restaurants, and entertainment destinations. The Wilshire/Western Metro Station is two blocks away. Walk score of 94. Cap rate of 5.12%

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-11T17:30:14.01. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.teamforss.com/homes/87222126

    702 S St Andrews Place Los Angeles (City), CA 90005

    • Price: $4,999,999
    • Status: Active Under Contract
    • Updated: 8 min ago
    • ID#: OC18217041
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.21
    Acres
    10,082
    SQFT
    $496
    $/SQFT
    1957
    Built
    Neighborhood:
    C17 - Mid-Wilshire
    County:
    Los Angeles
    Area:
    C17 - Mid-Wilshire
    Property Description
    The Royce is a beautifully remodeled 16 unit apartment building that is located in trendy and dynamic Koreatown. All 16 units interiors, exteriors and common areas have been remodeled to condo quality. The complex has been re-branded with strategic exterior enhancements and details. Spacious and efficient floor plans with well-appointed living areas. The subject property consists of a two story wood frame apartment complex built in 1957 and completely renovated in 2017. Unit mix of 8 one bedroom one bath and 8 studios all with modern kitchens, stainless steel appliances, upgraded bathrooms with tiled bathrooms and luxury fixtures. New roof, windows, cabinets, laminate flooring, recessed lighting, new copper plumbing, quartz counter tops, landscaping and exterior paint. The building is walking distance to popular Koreatown shops, restaurants, and entertainment destinations. The Wilshire/Western Metro Station is two blocks away. Walk score of 94. Cap rate of 5.12%
    Exterior Features

    Architectural Style Contemporary Construction Materials Frame Entry Level 1 Entry Location 1 Fence YN Yes Fencing Chain Link Foundation Details Concrete Perimeter Garage Spaces 8.00 Lot Features Near Public TransitSprinklers Drip SystemWalkstreet Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 13.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Roof Composition

    Interior Features

    Appliances Gas OvenGas RangeRefrigerator Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Wall Window Cooling YN Yes Fireplace Features None Fireplace YN No Flooring Laminate Heating Wall Heater Heating YN Yes Interior Features Copper Plumbing FullRecessed Lighting Laundry Features Individual Room Levels Two Window Features Double Pane Windows

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features SidewalksStorm DrainsStreet LightingUrban Country Us Electric Electricity - On Property Elevation Units Feet Gross Income 386185.00 Gross Operating Income 374633.00 Gross Scheduled Income 386185.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Net Operating Income 254886.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 16 Number Of Separate Gas Meters 16 Number Of Separate Water Meters 1 Number Of Units Leased 14 Number Wall AC 16 Number With Dishwasher 16 Number With Disposal 16 Number With Range 16 Number With Refrigerator 16 Operating Expense 119747.00 Operating Expense Percent 31.00 Professional Management Expense 0.00 Property Condition TurnkeyUpdated/Remodeled Property Sub Type Apartment Rent Control YN Yes Security Features Smoke Detector Senior Community YN No Sewer Sewer Paid Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 391020.00 Total Expenses 119747.00 Trash Expense 0.00 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Vacancy Allowance 11587 Vacancy Allowance Rate 3.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Lar4

    Listing provided courtesy of Manuel Bernal of Bernal Capital Group.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-11T17:30:14.01. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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