105 S Saint Andrews Pl, Los Angeles, CA 90004

***Price Reduced by $350,000; New Price is $1,850,000*** 105 South Saint Andrews Place is currently a 4 unit apartment building constructed in the 1920's that is situated on a 8,597 square foot corner lot that is zoned R3-1 (TOC Tier 2). The lot has 142 feet of frontage on 1st Street and 60 feet of frontage on St Andrews Place. While the existing 4-Plex is highly valuable because of the quality of the property including the unit mix, size of apartments, current income and potential income, it appears that the highest value is as a development site for apartment buildings or condominiums. Situated in the city of Los Angeles Transit Oriented Communities (TOC) Tier 2 area, the property is eligible for density bonuses and other incentives for a developer in exchange for a portion of the units that will be constructed being reserved for low income housing. We estimate that a developer will construct between 10 and 18 units of either condominiums or high end apartments.