1475 West 28th Street

Los Angeles, CA 90007

$1,285,000
Price
8
Beds
5
Baths
2,597 Sq. Ft.
$495 / Sq. Ft.
2,597
Sq. Ft.
$495
per Sq. Ft.

Description

We are pleased to present the opportunity to acquire 1475 W. 28th Street, a three (3) unit, eight (8) bedroom student housing investment, located in the prestigious DPS Patrol Zone, and just blocks to the University of Southern California (USC). This single-story building was constructed of wood frame and stucco on a raised foundation, featuring a total square footage of 2,597 SF. The expansive 7,430 SF lot allows an investor to add significant value to the property by demolishing the two detached...We are pleased to present the opportunity to acquire 1475 W. 28th Street, a three (3) unit, eight (8) bedroom student housing investment, located in the prestigious DPS Patrol Zone, and just blocks to the University of Southern California (USC). This single-story building was constructed of wood frame and stucco on a raised foundation, featuring a total square footage of 2,597 SF. The expansive 7,430 SF lot allows an investor to add significant value to the property by demolishing the two detached back units, and constructing two (2) ADU's, each consisting of 4-bedrooms + 4-bathrooms (8-bedrooms + 8 bathrooms). The front single-family residence consists of 5-bedrooms + 3-bathrooms, with a total income of $6,500/month. The two detached units towards the back of the lot consists of a 1-bedroom + 1-bathroom unit ($975/month) & a 2-bedroom + 1-bathroom unit ($1,250/month). Priced at a current 6.5% Cap Rate excellent cash flow investment with potential upside in rents.
  1. Listed by Davis Saadian • DRE #01921748 • Brokerage DRE #01854200 • KW Advisors

Property Details for 1475 West 28th Street

Zoning
LAR2
Parcel Number
5054031019
Total Units
3.0
Living Area
2597
Source Living Area
Vendor Enhanced
Area
Mid Los Angeles (C16)
Vacancy Rate
0%
Lot Size Area
7432
LISTING UPDATED: 10/29/2024 03:31 PM

Property Details for 1475 West 28th Street

StatusActive
MLS #24-434425
Days on Market81
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1922
Lot Size0.17 AC / 7,432 SF
CountyLos Angeles County

Building Information for 1475 West 28th Street

Stories1Residences-Year Built1922Building Size-Lot Size0.17 AC / 7,432 SF

Property Information for 1475 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: 1
  • Number Of Buildings: 3
  • 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: Actual
  • Gross Operating Income: $104,700
  • Net Operating Income: $83,522.00
  • Gross Income: $104,700
  • Cap Rate: 6.50%
  • Gross Rent Multiplier: $12.20
  • Total Annual Expense: 21178
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1706
  • Lot Size Square Feet: 7432
Parking Details
Parking Details
  • Parking Garage: Private, Other
  • Total Parking: 4
  • Parking Features: Private
Interior Features
Interior Features
  • Levels: One
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Range/Oven, Refrigerator, Other, Freezer, Garbage Disposal
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: 5
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $6,500.00
  • Unit Actual Rent: $6,500.00
  • Unit Projected Rent: $7,000.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $975.00
  • Unit Actual Rent: $975.00
  • Unit Projected Rent: $2,000.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,250.00
  • Unit Actual Rent: $1,250.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $400,000.00
  • Assessed Improvement Percent: 40.0
  • Assessed Land Value: $600,000.00
  • Assessed Land Percent: 60
  • Assessed Total Value: $1,000,000.00

Property History for 1475 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 1475 West 28th Street

Taxable ValueLand$612,000Additions$408,000Total$1,020,000
Tax Record2024$12,716 ($1,060 / month)
Home Facts
Total Finished SqFt2,597 SqFtAbove Grade Finished SqFt2,597 SqFtLot Size7,430 SqFtStyleTriplexYear Built1922ZoningLAR2CountyLOS ANGELESAPN5054-031-019

Schools near 1475 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.

Similar Homes

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1475 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 $1,285,000. It has been on the market for a total of 81 days and was last sold on August 15, 2022. 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. 1475 West 28th Street is a 8-bed, 5-bath, 2,597 sqft multi-family home built in 1922.

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.