1460 W 28th St Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90007
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,016 sqft
Price per Sqft $506
MLS Listing ID 25-483939
Style Craftsman
Bedrooms 11
Construction Status New Construction
Year Built 1906
Lot Size 7,427 Sqft
Acres 0.1705
Property Sub-Type Multi-Family
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 Mid Los Angeles
Zoning LAR2
Rooms
Other Rooms Other
Interior
Heating Other
Cooling Other
Flooring Hardwood, Other
Equipment Range/Oven, Refrigerator, Freezer, Garbage Disposal, Hood Fan, Other, Dryer, Dishwasher, Washer
Laundry In Unit
Exterior
Parking Features Other
Garage Spaces 4.0
Building
Story 2
Architectural Style Craftsman
Level or Stories Two
Construction Status New Construction
Others
Special Listing Condition Standard