1460 W 28th St, Los Angeles, CA 90007 – 24-434415

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$2,050,000

Est. payment - /mo

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11 BD

7 BA

4,016 SqFt

Active

1460 W 28th St Los Angeles, CA 90007

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Roe Valenti S.0190519

roevalenti@yahoo.com +1(702) 460-5556

UPDATED:

11/24/2024 01:49 PM

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 $510

MLS Listing ID 24-434415

Style Craftsman

Bedrooms 11

Year Built 1906

Lot Size 7,427 Sqft

Acres 0.1705

Property Description

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.

Location

State CA

County Los Angeles

Area Mid Los Angeles

Zoning LAR2

Rooms

Other Rooms None

Interior

Heating Other

Cooling Other

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

Exterior

Parking Features Assigned, Other

Garage Spaces 1.0

Building

Story 2

Architectural Style Craftsman

Level or Stories Multi/Split

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by KW Advisors

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Roe Valenti S.0190519

REALTOR® | RE.S.0190519

+1(702) 460-5556

1460 W 28th St Los Angeles, CA 90007

Roe Valenti S.0190519

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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1460 W 28th St