1189 West 36th Place

Los Angeles, CA 90007

$2,750,000
Price
16
Beds
8
Baths
4,923 Sq. Ft.
$559 / Sq. Ft.
4,923
Sq. Ft.
$559
per Sq. Ft.

Description

We are pleased to offer the opportunity to acquire this four (4) unit, 16-bedroom, value-add student housing apartment complex, located in the highly desirable DPS Patrol Zone, less than 1 block to the University of Southern California (USC). This two-story building was constructed of wood frame and stucco on a raised foundation built in 1960 with a square footage of 4,923 on a 5,981-square foot lot. The building has been reinforced and upgraded in compliance with the latest city codes and regulations,...We are pleased to offer the opportunity to acquire this four (4) unit, 16-bedroom, value-add student housing apartment complex, located in the highly desirable DPS Patrol Zone, less than 1 block to the University of Southern California (USC). This two-story building was constructed of wood frame and stucco on a raised foundation built in 1960 with a square footage of 4,923 on a 5,981-square foot lot. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of (4) 4-bedroom + 2-bathroom units. The investment boasts spacious floor plans, secured gated entry, an on-site laundry room for additional income, five (5) on-site parking spaces, and individually metered for gas and electricity. Three of the four units will be delivered vacant upon the close of escrow an excellent value-add opportunity to remodel and update the units to achieve top market rents. 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 expansive lot size allows an investor to add even more value to the property by constructing an ADU to further increase cash-flow (about $5,500/month), generating an even higher yield/ net income. (Buyer to verify)
  1. Listed by Davis Saadian • DRE #01921748 • Brokerage DRE #01854200 • KW Advisors

Property Details for 1189 West 36th Place

Zoning
LARD1.5
Parcel Number
5040017006
Total Units
4.0
Living Area
4923
Source Living Area
Vendor Enhanced
Area
Los Angeles Southwest (C34)
Vacancy Rate
75%
Lot Size Area
5983
LISTING UPDATED: 12/27/2024 12:01 AM

Property Details for 1189 West 36th Place

StatusActive
MLS #24-473609
Days on Market11
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
Lot Size0.14 AC / 5,983 SF
CountyLos Angeles County

Building Information for 1189 West 36th Place

Stories2Residences-Year Built1960Building Size-Lot Size0.14 AC / 5,983 SF

Property Information for 1189 West 36th Place

Community / Development
Community / Development
  • Number Of Units: 4
  • 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: Scheduled
  • Gross Operating Income: $288,000
  • Net Operating Income: $241,954.00
  • Gross Income: $288,000
  • Cap Rate: 8.80%
  • Gross Rent Multiplier: $9.55
  • Total Annual Expense: 46046
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1374
  • Lot Size Square Feet: 5983
Parking Details
Parking Details
  • Parking Garage: Private, Other
  • Total Parking: 5
  • Parking Features: Private
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Range/Oven, Refrigerator, Other, Washer, Dryer
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 12-19-2024
Unit Details
Unit 1 Information
  • Unit Beds: 4
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $6,000.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $6,500.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 4
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $6,000.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $6,500.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 4
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $6,000.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $6,500.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 4
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $6,000.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $6,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $159,127.00
  • Assessed Improvement Percent: 60.7
  • Assessed Land Value: $103,007.00
  • Assessed Land Percent: 39.3
  • Assessed Total Value: $262,134.00

Property History for 1189 West 36th Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 1189 West 36th 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
Lenicia B. Weemes 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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1189 West 36th Place is a multi-family home for sale in Los Angeles, CA 90007. This property was listed for sale on December 19, 2024 by KW Advisors, it's currently listed at $2,750,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Lenicia B. Weemes Elementary School, Foshay Learning Center and Manual Arts Senior High School. 1189 West 36th Place is a 16-bed, 8-bath, 4,923 sqft multi-family home built in 1960.

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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of KW Advisors, 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.