1460 West 28th Street

Los Angeles, CA 90007

$2,050,000
Price
11
Beds
7
Baths
4,016 Sq. Ft.
$510 / Sq. Ft.
4,016
Sq. Ft.
$510
per Sq. Ft.

Description

We are pleased to offer the opportunity to acquire two (2) turn-key student housing Single Family Residences, consisting of 11-bedrooms, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The property and all eleven (11) bedrooms were completely updated & remodeled in 2022 - featuring brand new hardwood floors, stainless steel kitchen appliances, quartz counter tops, tiled showers with glass enclosures, in-unit washer & dryers, and...We are pleased to offer the opportunity to acquire two (2) turn-key student housing Single Family Residences, consisting of 11-bedrooms, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The property and all eleven (11) bedrooms were completely updated & remodeled in 2022 - featuring brand new hardwood floors, stainless steel kitchen appliances, quartz counter tops, tiled showers with glass enclosures, in-unit washer & dryers, and high-end finishes throughout the units. The investment features a new roof, updated copper plumbing, double pane windows, and individually metered for gas & electricity. The building is approximately 4,016 rentable square feet on a 7,425 square foot lot, consisting of two houses: (1) 6-bedroom + 3-bathroom house, & (1) 5-bedroom + 4-bathroom house. 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 investment is 100% occupied with USC students, and fully leased for the 2024-2025 year, with a gross income of $13,450/month. There's approximately 15% potential upside in rents, which an investor can achieve closer to about $15,000/month. The expansive lot size allows an investor to add even more value to the property by constructing a 4-bedroom + 4-bathroom ADU to further increase cash-flow (about $6,000/month), generating an even higher yield/ net income. Completed project will gross approximately $21,00/Month - $252,000/Year. Landlord expenses are significantly minimal as the tenants pay for all water, trash, gas & electricity. Currently priced at a 6.5% cap rate excellent cashflow investment opportunity.
  1. Listed by Davis Saadian • DRE #01921748 • Brokerage DRE #01854200 • KW Advisors

Property Details for 1460 West 28th Street

Zoning
LAR2
Style
Craftsman
Parcel Number
5054033005
Total Units
2.0
Living Area
4016
Source Living Area
Vendor Enhanced
Area
Mid Los Angeles (C16)
Vacancy Rate
0%
LISTING UPDATED: 11/24/2024 06:49 AM

Property Details for 1460 West 28th Street

StatusActive
MLS #24-434415
Days on Market92
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1906
Lot Size0.17 AC / 7,427 SF
CountyLos Angeles County

Building Information for 1460 West 28th Street

Stories2Residences-Year Built1906Building Size-Lot Size0.17 AC / 7,427 SF

Property Information for 1460 West 28th Street

Community / Development
Community / Development
  • Number Of Units: 2
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Houses
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: $161,400
  • Net Operating Income: $132,186.00
  • Gross Income: $161,400
  • Cap Rate: 6.50%
  • Gross Rent Multiplier: $12.70
  • Total Annual Expense: 29214
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1705
  • Lot Size Square Feet: 7427
  • Lot Size Dimensions: 55x135
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Assigned, Other
  • Total Parking: 1
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Washer, Dryer, Other, Range/Oven, Freezer, Garbage Disposal
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-02-2024
Unit Details
Unit 1 Information
  • Unit Beds: 6
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $7,450.00
  • Unit Actual Rent: $7,450.00
  • Unit Projected Rent: $8,000.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 5
  • Unit Baths: 4
  • Unit Furnished: No
  • Unit Rent: $6,000.00
  • Unit Actual Rent: $6,000.00
  • Unit Projected Rent: $7,000.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 4
  • Unit Baths: 4
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $6,000.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $702,270.00
  • Assessed Improvement Percent: 40.3
  • Assessed Land Value: $1,040,400.00
  • Assessed Land Percent: 59.7
  • Assessed Total Value: $1,742,670.00

Property History for 1460 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 1460 West 28th Street

Taxable ValueLand$1,040,400Additions$702,270Total$1,742,670
Tax Record2023$21,397 ($1,783 / month)
Home Facts
Beds9Total Finished SqFt4,016 SqFtAbove Grade Finished SqFt4,016 SqFtStories2Lot Size7,425 SqFtStyleSingle Family ResidenceYear Built1906ZoningLAR2CountyLOS ANGELESAPN5054-033-005

Schools near 1460 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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1460 West 28th Street is a multi-family home for sale in Los Angeles, CA 90007. This property was listed for sale on September 2, 2024 by KW Advisors, it's currently listed at $2,050,000. It has been on the market for a total of 92 days and was last sold on September 30, 2020. 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. 1460 West 28th Street is a 11-bed, 7-bath, 4,016 sqft multi-family home built in 1906.

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.