1318 West 35th Place

Los Angeles, CA 90007

$1,555,000
Price
7
Beds
5
Baths
2,879 Sq. Ft.
$540 / Sq. Ft.
2,879
Sq. Ft.
$540
per Sq. Ft.

Description

We are pleased to present the opportunity to acquire 1318 W. 35th Place, a three (3) unit student housing redevelopment investment, located in the desirable DPS Patrol Zone, and walking distance to the USC campus. This 6,800 SF lot offers a zoning ordinance of LARD1.5, which allows for the construction of 4 units by right. With a Tier 3 TOC (40% density bonus), this allows for the development for an additional 2 units, totaling a potential 6 buildable units, plus the construction of ADU's to further...We are pleased to present the opportunity to acquire 1318 W. 35th Place, a three (3) unit student housing redevelopment investment, located in the desirable DPS Patrol Zone, and walking distance to the USC campus. This 6,800 SF lot offers a zoning ordinance of LARD1.5, which allows for the construction of 4 units by right. With a Tier 3 TOC (40% density bonus), this allows for the development for an additional 2 units, totaling a potential 6 buildable units, plus the construction of ADU's to further increase cash-flow. Current income is $8,220/month. The asset presents an excellent opportunity for an investor to acquire a unique premier property in the attractive USC submarket that will provide exponential returns. The site allows an investor to capitalize on a densely populated, affluent, and gentrifying area that continues to experience rapid rent growth.
  1. Listed by Davis Saadian • DRE #01921748 • Brokerage DRE #01013548 • Carolwood Estates

Property Details for 1318 West 35th Place

Zoning
LARD1.5
Parcel Number
5040005016
Total Units
3.0
Living Area
2879
Source Living Area
Vendor Enhanced
Area
Los Angeles Southwest (C34)
Vacancy Rate
0
Lot Size Area
6803

Location

Listing Courtesy of Carolwood Estates, Davis Saadian, DRE #01921748
Add your commute
LISTING UPDATED: 05/23/2024 12:01 AM

Property Details for 1318 West 35th Place

StatusActive
MLS #24-392393
Days on Market19
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1908
Lot Size0.16 AC / 6,803 SF
CountyLos Angeles County

Location

Listing Courtesy of Carolwood Estates, Davis Saadian, DRE #01921748
Add your commute

Building Information for 1318 West 35th Place

Stories2Residences-Year Built1908Building Size-Lot Size0.16 AC / 6,803 SF

Payment Calculator

$9,412 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,486

Property Taxes

$926

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1318 West 35th Place

Community / Development
Community / Development
  • Number Of Units: 3
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $98,640
  • Net Operating Income: $70,943.00
  • Gross Income: $98,640
  • Gross Rent Multiplier: $15.76
  • Total Annual Expense: 27697
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1562
  • Lot Size Square Feet: 6803
  • Lot Size Dimensions: 50x136
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Assigned, Gated, Other
  • Total Parking: 6
  • Parking Features: Assigned, Gated
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Range/Oven, Recirculated Exhaust Fan, Refrigerator, Freezer, Garbage Disposal, Dishwasher, Washer, Other
  • Laundry: Washer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other, Shed(s)
Lease Terms
Lease Terms
  • Entry Date: 05-15-2024
Unit Details
Unit 1 Information
  • Unit Beds: 4
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $4,730.00
  • Unit Actual Rent: $4,730.00
  • Unit Projected Rent: $6,000.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,700.00
  • Unit Actual Rent: $1,700.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,790.00
  • Unit Actual Rent: $1,790.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $353,475.00
  • Assessed Improvement Percent: 40.0
  • Assessed Land Value: $530,214.00
  • Assessed Land Percent: 60
  • Assessed Total Value: $883,689.00

Property History for 1318 West 35th Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1318 West 35th Place

Taxable ValueLand$530,214Additions$353,475Total$883,689
Tax Record2023$11,115 ($926 / month)
Home Facts
Total Finished SqFt2,879 SqFtAbove Grade Finished SqFt2,879 SqFtLot Size6,801 SqFtStyleTriplexYear Built1908ZoningLARD1.5CountyLOS ANGELESAPN5040-005-016

Schools near 1318 West 35th Place

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 12
Public - 9 to 12
Charter - K to 5
Rating
School
Distance
John W. Mack Elementary School
PublicK to 5

Foshay Learning Center
PublicK to 12

Manual Arts Senior High School
Public9 to 12

Stem Preparatory Academy
CharterK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1318 West 35th Place is a multi-family home for sale in Los Angeles, CA 90007. This property was listed for sale on May 15, 2024 by Carolwood Estates, it's currently listed at $1,555,000. It has been on the market for a total of 19 days and was last sold on August 6, 1999. This listing's school district is Los Angeles Unified School District. Nearby schools include John W. Mack Elementary School, Foshay Learning Center and Manual Arts Senior High School. 1318 West 35th Place is a 7-bed, 5-bath, 2,879 sqft multi-family home built in 1908.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Carolwood Estates, Davis Saadian, DRE #01921748

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.