1520 Andalusia Ave Los Angeles, CA 90291
- Apartment buildings
- 3,336 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1520 Andalusia Ave
- Year built
- 1921
- Property size
- 3,336 SF
- Property type
- Apartment buildings
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.467
- Latitude
- 33.9903
