Active
1460 W 28th St
Los Angeles CA, 90007
$2,035,000
$506.72 per sqft
Active
11 Beds
7 Baths
4,016 sqft
Multi-family
Built in 1906
We are pleased to offer the opportunity to acquire two (2) student housing Single Family Residences, consisting of 11-bedrooms, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The front Single-Family Residence was built in 1913, offering 6-bedrooms + 3-bathrooms. Fully occupied with USC students, this 2,508 SF home boasts hardwood floors, a spacious kitchen with island, in-unit washer/ dryer, and elegant touches throughout. Tenants pay for all gas, electricity, and water/trash.The 2nd Single family Residence was newly constructed in 2020, offering 5-bedrooms + 4-bathrooms, with a total rentable square footage of 1,508 SF. This brand-new construction house is also fully occupied with USC students, featuring brand new hardwood floors, stainless steel kitchen appliances, quartz counter tops, tiled showers with glass enclosures, in-unit washer & dryers, and high-end finishes throughout the units. Tenants pay for all gas, electricity, and water/trash.Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The investment is 100% occupied with USC students, and fully leased for the year, with a gross income of $13,450/month. There's approximately 15% potential upside in rents, which an investor can achieve closer to about $15,000/month. The expansive lot size allows an investor to add even more value to the property by constructing a 4-bedroom + 4-bathroom ADU to further increase cash-flow (about $6,000/month), generating an even higher yield/ net income. Completed project will gross approximately $21,00/Month - $252,000/Year. Landlord expenses are significantly minimal as the tenants pay for all water, trash, gas & electricity. Currently priced at a 6.5% cap rate & 12.5x GRM excellent cashflow investment opportunity.
25-483939
MLSⓇ ID
January 16, 2025
Listed
January 16, 2025
Updated
Map
1460 W 28th St
Los Angeles CA, 90007
Interior Features
Total Stories
2
Bedrooms
11
Total Bathrooms
7
Appliances
Range/Oven, Refrigerator, Freezer, Garbage Disposal, Hood Fan, Other, Dryer, Dishwasher, Washer
Laundry Description
In Unit
Floor Description
Hardwood, Other
Fireplace
No
Cooling
Yes
Cooling Description
Other
Heating
Yes
Heating Description
Other
Exterior/Building Features
Lot Size
0.17 Acres
Architectual Style
Craftsman
Other Property Details
Area Name
Mid Los Angeles
Garage
No
Parking
Other
Parking Total
4
View
No
County
Los Angeles
Pool
No
Zoning
LAR2
Listed by Davis Saadian with KW Advisors
Listing Contact: 310-402-8958
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Data last updated 1/16/2025