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    1520 Andalusia Ave Los Angeles, CA 90291

    Sponsored
    For Sale
    $3,000,000

    Charming 8-unit building, high ROI

    Property size:
    3,336 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 8-unit apartment building, located at 1520 Andalusia Avenue in Los Angeles, CA 90291, presents a compelling investment opportunity. Boasting a prime location just south of Abbot Kinney Boulevard in Venice, this property offers convenient access to Venice Beach, renowned shops, restaurants, and art galleries. The building, constructed in 1921, comprises 3,336 square feet on a 5,100 square foot lot, featuring a charming central courtyard configuration. The unit mix includes six studios and two one-bedroom apartments. Currently, one studio is vacant, with a projected monthly rent of $2,200. The property's Net Operating Income (NOI) is $124,025, yielding a 4.10% capitalization rate. The asking price is $3,000,000, translating to approximately $375,000 per unit and $899 per square foot. The Gross Annual Income is $190,807.80, resulting in a 15.7 Gross Rent Multiplier (GRM). Note that there is no on-site parking. The property is zoned LARD 1.5. This is a rare opportunity to acquire a well-situated multifamily property in a highly desirable area of Los Angeles. Financial information provided is based on estimates and projections. Potential buyers are encouraged to conduct their own due diligence.

    Property Features for 1520 Andalusia Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,336 SF

    Building Details

    Year Built
    1921
    Buildings
    1
    Stories
    1
    Units
    8

    HighLights

    • $375,000 per unit
    • 3,336‑square‑foot building on a 5,100‑square‑foot lot
    • $899 per square foot building cost
    • $190,807.80 Gross Annual Income (see rent roll)
    • 15.7 Gross Rent Multiplier (GRM)
    • $124,025 Net Operating Income (NOI) with 35% estimated expenses, including new property taxes
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.4670447
    Latitude
    33.9902764

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    FAQs

    What type of property is this?
    Multifamily property - Charming 8-unit building, high ROI
    Where is this multifamily property located?
    The property is located at 1520 Andalusia Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: $375,000 per unit; 3,336-square-foot building on a 5,100-square-foot lot; $899 per square foot building cost
    Request Owner's contact information
    1520 Andalusia Ave Los Angeles, CA 90291
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    Los Angeles, CA 90291
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1520 Andalusia Ave Los Angeles, CA 90291
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