1327 W 35th 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 4,100 sqft
Price per Sqft $426
MLS Listing ID 25506913
Style Craftsman
Bedrooms 15
Construction Status Updated/Remodeled
Year Built 1913
Lot Size 6,907 Sqft
Acres 0.1586
Property Sub-Type Multi-Family
Property Description
We are pleased to offer the opportunity to acquire two (2) single-family residences, consisting of 15-beds which can fit up to 19-beds. The properties are located in the highly desirable DPS Patrol Zone, and just minutes to the University of Southern California (USC).The two restored Craftsman homes were completely updated & remodeled in 2015 - featuring polished hardwood floors, stainless steel kitchen appliances, granite counter tops, and in-unit washer & dryers. Both properties have updated copper plumbing, electrical systems, new roofs, and central HVAC.The structures were built in 1913, constructed of wood frame and stucco on a raised foundation, with a total square footage of 4,100 SF, on a 6,905 SF lot, zoned LARD1.5. The buildings have been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of one (1) 8-bedroom + 6-bathroom SFR, and one (1) 4-bedroom + 2-bathroom SFR. The bedrooms are spacious and furnished with beds, armoires, desks, mini-fridges, and individual thermostat controls. Combined with parental guarantees on some 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 young working professionals, fully leased with a gross income of $13,600/month. There's approximately 20% potential upside in rents, which an investor can achieve closer to about $17,400/month. The expansive lot size allows an investor to add even more value to the property by constructing a 3-bedroom + 3-bathroom ADU to further increase cash-flow (buyer to verify). Currently priced at a 7% Cap Rate Excellent cash-flow investment opportunity. Please email for the Executive Summary/ Financial Analysis.
Location
State CA
County Los Angeles
Area Los Angeles Southwest
Zoning LARD1.5
Rooms
Other Rooms None
Interior
Heating Other, Central
Cooling Air Conditioning, Central, Dual, Other
Flooring Hardwood, Other, Tile
Fireplaces Type Bath, Bonus Room, Dining, Den, Kitchen, Living Room, Other
Equipment Dishwasher, Range/Oven, Dryer, Washer, Freezer, Garbage Disposal, Other, Recirculated Exhaust Fan, Refrigerator
Laundry In Unit, Inside
Exterior
Parking Features Private, Other, Gated
Garage Spaces 4.0
Building
Story 2
Architectural Style Craftsman
Level or Stories Multi/Split
Construction Status Updated/Remodeled
Others
Special Listing Condition Standard