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 Beds


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 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Ramey Ward | CA DRE# 01456908 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 3/18/2024

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