Active

1460 W 28th St

Los Angeles CA, 90007

$2,050,000


$510.46 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) turn-key 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 property and all eleven (11) bedrooms were completely updated & remodeled in 2022 - 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. The investment features a new roof, updated copper plumbing, double pane windows, and individually metered for gas & electricity. The building is approximately 4,016 rentable square feet on a 7,425 square foot lot, consisting of two houses: (1) 6-bedroom + 3-bathroom house, & (1) 5-bedroom + 4-bathroom house. 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 2024-2025 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 excellent cashflow investment opportunity.

24-434415

MLS ID

September 2, 2024

Listed

November 24, 2024

Updated

Map

1460 W 28th St
Los Angeles CA, 90007

Interior Features

Total Stories

2


Bedrooms

11


Total Bathrooms

7


Appliances

Washer, Dryer, Other, Range/Oven, Freezer, Garbage Disposal


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


Days on Market

83


Garage

No


Parking

Assigned, Other


Parking Total

1


View

No


County

Los Angeles


Pool

No


Zoning

LAR2

Listed by Davis Saadian with KW Advisors
Listing Contact: 310-402-8958 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Roxanna Godinez | CA DRE# 01137955 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 11/24/2024

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