1455 W 28th ST Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90007
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,583 sqft
Price per Sqft $516
MLS Listing ID 24413225
Bedrooms 12
HOA Y/N No
Year Built 1910
Lot Size 5,671 Sqft
Acres 0.1302
Property Description
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).
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR2
Interior
Fireplace No
Exterior
Total Parking Spaces 2
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5054032021
Special Listing Condition Standard