1455 West 28th Street

Los Angeles, CA 90007

$1,795,000
Price
12
Beds
7
Baths
3,583 Sq. Ft.
$501 / Sq. Ft.
3,583
Sq. Ft.
$501
per Sq. Ft.

Description

We are pleased to offer the opportunity to acquire this high yield 7.86% Cap renovated 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 comprised of 5 bedroom + 3 bathroom units. As...We are pleased to offer the opportunity to acquire this high yield 7.86% Cap renovated 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 comprised 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). Property is in an Historic Overlay Zone.
  1. Listed by Adam Shamooelian • DRE #02116849 • Brokerage DRE #01425795 • Keller Williams Beverly Hills

Property Details for 1455 West 28th Street

Zoning
LAR2
Parcel Number
5054032021
Total Units
3.0
Living Area
3583
Source Living Area
Appraiser
Area
Mid Los Angeles (C16)
Vacancy Rate
0
Lot Size Area
5672
LISTING UPDATED: 11/04/2024 12:15 PM

Property Details for 1455 West 28th Street

StatusActive
MLS #24-413225
Days on Market134
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1910
Lot Size0.13 AC / 5,672 SF
CountyLos Angeles County

Building Information for 1455 West 28th Street

Stories2Residences-Year Built1910Building Size-Lot Size0.13 AC / 5,672 SF

Property Information for 1455 West 28th Street

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: 2
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Disclosures: Other
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $170,880
  • Net Operating Income: $141,081.00
  • Gross Income: $170,880
  • Cap Rate: 7.86%
  • Gross Rent Multiplier: $10.50
  • Total Annual Expense: 29799
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1302
  • Lot Size Square Feet: 5672
Parking Details
Parking Details
  • Parking Garage: Other
  • Total Parking: 2
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 07-10-2024
Unit Details
Unit 1 Information
  • Unit Beds: 5
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $5,770.00
  • Unit Actual Rent: $5,770.00
  • Unit Projected Rent: $6,250.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 5
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $5,770.00
  • Unit Actual Rent: $5,770.00
  • Unit Projected Rent: $6,250.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,700.00
  • Unit Actual Rent: $2,700.00
  • Unit Projected Rent: $2,800.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $326,400.00
  • Assessed Improvement Percent: 32.99
  • Assessed Land Value: $663,000.00
  • Assessed Land Percent: 67.01
  • Assessed Total Value: $989,400.00

Property History for 1455 West 28th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1455 West 28th Street

Taxable ValueLand$676,260Additions$333,128Total$1,009,388
Tax Record2024$12,530 ($1,044 / month)
Home Facts
Total Finished SqFt2,880 SqFtAbove Grade Finished SqFt2,880 SqFtLot Size5,672 SqFtStyleDuplexYear Built1910ZoningLAR2CountyLOS ANGELESAPN5054-032-021

Schools near 1455 West 28th Street

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
Vermont Avenue 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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1455 West 28th Street is a multi-family home for sale in Los Angeles, CA 90007. This property was listed for sale on July 10, 2024 by Keller Williams Beverly Hills, it's currently listed at $1,795,000. It has been on the market for a total of 134 days and was last sold on August 12, 2021. This listing's school district is Los Angeles Unified School District. Nearby schools include Vermont Avenue Elementary School, Foshay Learning Center and Manual Arts Senior High School. 1455 West 28th Street is a 12-bed, 7-bath, 3,583 sqft multi-family home built in 1910.

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 Keller Williams Beverly Hills, Adam Shamooelian, DRE #02116849

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.