1026 West 24th Street
$1,650,000
5
4
2,854
2,854
$578
Description
We are pleased to present a four (4) unit plus one (1) non-conforming unit apartment building located at 1026 W 24th Street in Los Angeles, California. The subject property is located in an ideal University Park location, north of W Jefferson Boulevard and east of S Hoover Street. University Park is known for its historic culture, rich amenities, and hosting the renowned University of Southern California. The University Park market is a rapidly changing housing market, exhibiting itself as one of...We are pleased to present a four (4) unit plus one (1) non-conforming unit apartment building located at 1026 W 24th Street in Los Angeles, California. The subject property is located in an ideal University Park location, north of W Jefferson Boulevard and east of S Hoover Street. University Park is known for its historic culture, rich amenities, and hosting the renowned University of Southern California. The University Park market is a rapidly changing housing market, exhibiting itself as one of the strongest rental residential markets in the city of Los Angeles. The University of Southern California, currently enrolling more than 45,000 undergraduate, graduate, and professional students, is one of the most prestigious universities in the country. Roughly 70% of USC students live off-campus, and with enrollment comprised of more graduate and professional students than undergraduate students, the demand for off campus housing near the school is continually strong. Rent growth in the area is propelled by the short-term nature of a college students tenure. There is no shortage of nearby amenities within walking distance, including popular restaurants such as Bacaro LA, The Fields, and Caveman Kitchen. Today, the University Park neighborhood contains an outstanding array of museums, galleries, theaters, sport venues, gardens, libraries, and churches. With its rich mixture of education, entertainment, art, and culture, the past and the future, the University Park neighborhood offers exciting discoveries for people all ages. Built in 1940, this property consists of a great unit mix of two (1) studio / one-bathroom units, one (1) two-bedroom / one-bathroom unit with an attached non conforming unit / one-bathroom space attached (potential to add as another permitted unit), and two (2) three-bedroom / two-bedroom units. Two (2) units will be delivered vacant. Select units have also been recently renovated and are leased partially furnished. Gas and Electric are separately metered and there have been recents updates to the plumbing, water heaters, paint and landscaping. This charming mid century asset has plenty of on-site parking in the rear with enough space to potentially build additional ADU unit(s). Tenants will love being within close proximity of many trendy restaurants, nightlife, and entertainment options such as The Velaslavasay Panoama, Nature's Brew by Bacari, Hoover Recreation Center, Everytable, Planet Fitness, Shrine Auditorium and Expo Hall, and USC DPS patrol area. Being less than a mile away from the campus of USC, student tenants will have an easy and convenient commute. Positioned in an ideal University Park location that is DPS patrolled, this offering presents an exceptional opportunity for an investor to capitalize on a student housing asset that qualifies for 30-year fixed residential financing with good opportunities to add at least one (1) ADU.
- Listed by Jason Tuvia • DRE #01772495 • Brokerage DRE #01238010 • Marcus & Millichap
Property Details for 1026 West 24th Street
Water Front
None
ZoningLARD1.5
StyleCraftsman
Parcel Number5124008017
Total Units4.0
Living Area2854
Source Living AreaVendor Enhanced
AreaDowntown L.A. (C42)
LISTING UPDATED: 09/18/2024 12:01 AM
Property Details for 1026 West 24th Street
Status | Active |
---|---|
MLS # | 24-438075 |
Days on Market | 102 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1940 |
Lot Size | 0.17 AC / 7,245 SF |
County | Los Angeles County |
Building Information for 1026 West 24th Street
Stories2Residences-Year Built1940Building Size-Lot Size0.17 AC / 7,245 SF
Property Information for 1026 West 24th Street
Property History for 1026 West 24th Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1026 West 24th Street
Taxable ValueLand$447,074Additions$298,048Total$745,122
Tax Record2024$9,507 ($792 / month)
Home Facts
Total Finished SqFt2,854 SqFtAbove Grade Finished SqFt2,854 SqFtLot Size7,243 SqFtStyleQuadraplexZoningLARD1.5CountyLOS ANGELESAPN5124-008-017
Schools near 1026 West 24th Street
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | 6 to 12 |
Rating | School | Distance |
---|---|---|
Norwood Street Elementary School PublicK to 5 | ||
John Adams Middle School Public6 to 8 | ||
West Adams Preparatory High School Public9 to 12 | ||
Alliance Gertz-Ressler Richard Merkin 6-12 Complex Charter6 to 12 |
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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