1460 West 28th Street
$2,050,000
11
7
4,016
4,016
$510
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.
- Listed by Davis Saadian • DRE #01921748 • Brokerage DRE #01854200 • KW Advisors
Property Details for 1460 West 28th Street
Zoning
LAR2
StyleCraftsman
Parcel Number5054033005
Total Units2.0
Living Area4016
Source Living AreaVendor Enhanced
AreaMid Los Angeles (C16)
Vacancy Rate0%
LISTING UPDATED: 11/24/2024 06:49 AM
Property Details for 1460 West 28th Street
Status | Active |
---|---|
MLS # | 24-434415 |
Days on Market | 92 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1906 |
Lot Size | 0.17 AC / 7,427 SF |
County | Los 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
Property History for 1460 West 28th 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 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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