We are pleased to offer the opportunity to acquire this high yield 7.86% Cap renovated 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 comprised 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). Property is in an Historic Overlay Zone.
Property Details
Price:
$1,795,000
MLS #:
24413225
Status:
Active
Baths:
0
Address:
1455 W 28th Street
Type:
Residential Income
Neighborhood:
c16midlosangeles
City:
Los Angeles
Listed Date:
Jul 10, 2024
State:
CA
ZIP:
90007
Lot Size:
5,672 sqft / 0.13 acres (approx)
Year Built:
1910
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Schools
Interior
Exterior
Parking Spots
2.00
Stories Total
2
Financial
Map
Community
- Address1455 W 28th Street Los Angeles CA
- AreaC16 – Mid Los Angeles
- CityLos Angeles
- CountyLos Angeles
- Zip Code90007
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Courtesy of Keller Williams Beverly Hills. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
1455 W 28th Street
Los Angeles, CA
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