1455 28Th St, Los Angeles, CA 90007
3 Unit Apartment Building | $1,850,000 ($616,667/Unit) | 7.71% Cap Rate | Los Angeles, CA 90007
For Sale
Active
Asking Price $1,850,000
- Property Type
-
Multifamily
- Square Feet
- 3,583 SF
Listing Contacts
- Property Info
Property Overview
The Shamooelian Real Estate Group 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).
Agent Remarks: Please note the following: 1) Do not disturb the tenants. 2) Submit offer on a CAR Residential-Income Purchase Agreement. 3) Interior Inspection/Books & Records granted with an accepted offer. 4) Submit Proof of Funds & Pre-Qualification Letter with offer. 5) Seller selects all services. Disclaimer: All information has been secured from sources we believe to be reliable. However, we make no representation or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information above and bears all risk for any inaccuracies.
Agent Remarks: Please note the following: 1) Do not disturb the tenants. 2) Submit offer on a CAR Residential-Income Purchase Agreement. 3) Interior Inspection/Books & Records granted with an accepted offer. 4) Submit Proof of Funds & Pre-Qualification Letter with offer. 5) Seller selects all services. Disclaimer: All information has been secured from sources we believe to be reliable. However, we make no representation or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information above and bears all risk for any inaccuracies.
Property Details
- Year Built/Renovated
- 1910/2021
- Stories
- 2
- Property Subtype
- Dormitory
- Lot Size (sq. ft)
- 5,663 SF
- Units
- 3
Highlights
- USC Student Housing Investment Opportunity
- Highly Desirable West Of Campus Location, Short Walking Distance to Campus
- Located within the DPS Patrol Zone
- High Yield 7.71% Cap Rate
- 12 Bedroom + 7 Bathroom Turn-Key Investment
- Both Structures Renovated in 2021
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