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$ 2,035,000
Est. payment /mo
New
1460 W 28th ST Los Angeles, CA 90007
11 Beds
7 Baths
4,016 SqFt
UPDATED:
01/16/2025 06:10 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,016 sqft
Price per Sqft $506
MLS Listing ID 25483939
Bedrooms 11
HOA Y/N No
Year Built 1906
Lot Size 7,426 Sqft
Property Description
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.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR2
Interior
Flooring Wood
Fireplace No
Appliance Dishwasher, Disposal, Refrigerator, Dryer, Washer
Exterior
Total Parking Spaces 4
Building
Story 2
Entry Level Two
Architectural Style Craftsman
Level or Stories Two
New Construction Yes
Others
Senior Community No
Tax ID 5054033005
Special Listing Condition Standard
Listed by Davis Saadian • KW Advisors