Active
1455 W 28th St
Los Angeles CA, 90007
$1,850,000
$516.33 per sqft
Active
12 Beds
7 Baths
3,583 sqft
Multi-family
Built in 1910
We are pleased to offer the opportunity to acquire this high yield 7.71% Cap three (3) unit, 12 bedroom + 7 bathroom Student Housing investment opportunity, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The property is approximately 3,583 rentable square feet on a 5,672 square foot lot. The property has two (2) separate structures, with a unit mix of a duplex in the front comprising of 5 bedroom + 3 bathroom units. As well as an additional structure in the rear consisting of a 2 bedroom + 1 bathroom unit (non-conforming). All three units have been remodeled in 2021, with brand new flooring, updated electrical, brand new mini-split AC systems, brand new kitchens, and an in-unit washer & dryer. The investment is 100% occupied with USC students and fully leased for the 2024-2025 academic school year. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk lease investment that is poised for continued growth and excellent operating fundamentals. The property is currently grossing $14,240 per month with the tenants paying for all utilities of the property including Water/Gas/Electric. In addition, there's an excellent value-add opportunity to construct an ADU, and further increase cash flow for any investor (Buyer to Verify). The property is located in the HPOZ (Historic Zone).
24-413225
MLSⓇ ID
July 10, 2024
Listed
October 2, 2024
Updated
Map
1455 W 28th St
Los Angeles CA, 90007
Interior Features
Total Stories
2
Bedrooms
12
Total Bathrooms
7
Appliances
Other
Fireplace
No
Cooling
Yes
Cooling Description
Other
Heating
Yes
Heating Description
Other
Exterior/Building Features
Lot Size
0.13 Acres
Other Property Details
Area Name
Mid Los Angeles
Days on Market
75
Garage
No
Parking
Other
Parking Total
2
View
No
County
Los Angeles
Pool
No
Zoning
LAR2
Listed by Adam Shamooelian with Keller Williams Beverly Hills
Listing Contact: 310-658-2668
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Data last updated 10/2/2024