Properties | 409 St Andrews

409 St Andrews

A 32-unit Ground-up Development Opportunity Located in Prime Koreatown

409 St Andrews | Los Angeles, CA

Offering Price: $2,200,000

Units: 32

Price per Unit: N/A

Price per Sq. Ft.: $292

Current CAP: N/A

Current GRM: N/A

Market CAP: N/A

Market GRM: N/A

Year Built: N/A

Lot Size Sq. Ft.: 7,510

On Market Date: 5/21/2018

 Recognized as a major contributor of Los Angeles’ ongoing urbanization, Koreatown is one of the most dynamic and desirable neighborhoods for development. During the last five years, over 50 restaurants, chic retailers, trendy art galleries and boutique hotels have opened in Koreatown, attracting an affluent and growing base of luxury renters seeking to experience an amenity rich urban lifestyle.

THG Advisors, as exclusive listing agent, is pleased to present the opportunity to purchase 409 St. Andrews, a transit-oriented development opportunity located in the center of Koreatown. Situated on St. Andrews Place, between 4th Street and 5th Street, this prime in-fill location will provide future residents with walkable access to a myriad of restaurants and neighborhood conveniences (92 Walk Score) within the growth-oriented Koreatown market.

Given the strong renter demand and favorable growth prospects of Koreatown, 409 St. Andrews presents developers with the rare opportunity to develop a boutique apartment community in a market poised for extraordinary rent growth and value appreciation.

  •  Zoned R4-1 with Tier 3 Incentives 
  • Property is Vacant which Elimates Costs and Legal Challenges Associated with Relocating Existing Residents 
  • Attractively Priced at $292 per Land SF and $68,705 per Buildable Unit
  • Koreatown has the Highest Density in the City of Los Angeles and Provides 409 St. Andrews with an Exceptional Walkscore of 92—A “Walker’s Paradise”
  • Five Blocks from the Wilshire/Western Metro Station Providing Purple Line Service to Downtown Los Angeles with an Expansion to Westwood (Additional Stops in Miracle Mile, Beverly Hills and Century City) Under Construction
  • Prime Koreatown Location Near Trendy Nightlife and Popular Restaurants such as Commissary at The Line Hotel and R Bar
  • Located Two Blocks From the Eastern Edge of Windsor Square, an Elegant Residential Neighborhood that Features Multimillion-Dollar Celebrity Homes and the Official Residence of the Los Angeles Mayor
  • From REITs to New Year Hoteliers to Overseas Capital, Koreatown is on the Radar of All Investor Profiles
  • Rapid Lease-Up of Luxury “Class A” Communities like K2LA and The Maya (535 Kingsley) Demonstrate Clear Need for Luxury Housing
  • Convenient Proximity to Major Employment Centers Including the Wilshire Corridor, Downtown LA, Hollywood, and Beverly Hills
  • Less Than One Mile to Larchmont Village, a Tree-Lined Picturesque Urban Village That is Home to a Variety of Boutique Eaterties and Trendy Shops
  • Renters Consist of 93% of the Population in Koreatown