406 S St Andrews Pl
OVERBID HEARING SCHEDULED ON FRIDAY APRIL 15, 2022. OPENING BID WILL BE $3,725,000. PLEASE REFER TO ATTACHED OM AND NOTICE OF SALE FOR MORE INFORMATION AND CONTACT DAVID WEINBERGER FOR DETAILS - 818-970-0915.
406 S St Andrews Place is in the most desirable part of Koreatown between Wilshire Boulevard, 3rd Street, Western, and S. Rossmore Ave. Those in the know will confirm that this is considered prime Koreatown. As a result, 406 S St Andrews Place continues to capitalize on the tremendous growth that Koreatown enjoys. In addition, the subject property's transit-oriented and highly walkable (95 Walk score) location offers residents access to various entertainment venues, cultural destinations, dining options, and employment centers nearby.The asset, built-in 1960, is reflective of the architectural character from that era and features Six (6) Two Bedroom + Two Bathroom units, Four (4) One-Bedroom + One Bathroom units, and One (1) One-Bedroom +One and a half Bathroom unit for a total of eleven units. 406 S St Saint Andrews place consists of 10,868 sq. Ft. and resides on a 9,015 sq. Ft. lot.Two units will be delivered vacant, which is ideal for apartment operators seeking an actual value add opportunity to reposition a multifamily asset to obtain a higher yield. In addition, the lack of inventory in the immediate area, low-interest rates, and the value-add component should entice even the most discerning investors.
Receivership Sale. Property is subject to court confirmation & possible overbid. This property is being sold by way of a court appointed receivership per LASC case no: 21STCV13296. Please contact David Weinberger with any questions (David@TheSeymourGroup.net or 818.970.0915). The property is to be sold in "AS IS" "WHERE IS" condition with all faults known and unknown with absolutely no representations or warranties expressed or implied by Seller to Buyer. Buyer to verify with appropriate entities and satisfy self. Buyer to verify all info, including permits & uses, bed/bath counts, SQFT, and accuracy of all info provided.
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