Active
1414 W 30th St
Los Angeles CA, 90007
$1,380,000
$349.01 per sqft
Active
7 Beds
3,954 sqft
Residential
Built in 1922
Featuring spacious floorplans that average nearly 1,000 square feet each, the two structures occupy a corner lot near the intersection of Vermont Avenue and Jefferson Boulevard, the northwest corner of USC campus. A new owner may be able to add substantial value to the asset in a variety of ways through recapturing the approximate 51% in rent upside, by converting garage space to an ADU, or by reconfiguring the units to include additional bedrooms (Buyer to verify). One unit was recently renovated and houses USC students. Using this as a template and applying a similar plan to the remaining units could allow for a dramatic increase in cash flow. Students value the property's proximity to USC Village, the USC tennis and baseball facilities, as well as the campus classrooms and facilities that sit just blocks from the property. Rents are currently averaging only $1.53 per square foot, while other buildings in the immediate area have been able to achieve rents above $3.00 per square foot, particularly by taking advantage of the opportunity to house local students. Because the building contains four units, a new owner may be able to secure residential financing with a lower down payment than that needed for larger multifamily assets. This, coupled with the historically strong occupancy rates near USC campus and the potential for parental guarantees included in student housing leases, may allow for attractive and stable future cash flow.
24-343689
MLSⓇ ID
January 3, 2024
Listed
March 18, 2024
Updated
Map
1414 W 30th St
Los Angeles CA, 90007
Interior Features
Total Stories
1
Bedrooms
7
Appliances
Other
Fireplace
No
Cooling
Yes
Cooling Description
Other
Heating
Yes
Heating Description
Other
Exterior/Building Features
Lot Size
0.14 Acres
Other Property Details
Area Name
Mid Los Angeles
Days on Market
8
Garage
No
Parking
Assigned
Parking Total
0
View
No
County
Los Angeles
Pool
No
Zoning
LAR2
Listed by Roderick 'Rick' Raymundo with Marcus & Millichap
Listing Contact: 818-219-6146
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Data last updated 3/18/2024