1460 W 28th Street Los Angeles, CA 90007
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.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site32 Days
- MLS StatusActive
- MLS ID Number24434415
- Home Size Source N/A
- Year Built1906
- Lot Size0.1705 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Style Craftsman
- Parking Assigned
- Parking Spaces 1
- Number of Stories Multi/Split2
- Acreage 0.1705
- Zoning LAR2
- Listing Conditions Standard
Interior Features
- Appliances Disposal
- Laundry Features Washer IncludedDryer Included
Community Features
- Senior Community No
- MLS Area C16 - Mid Los Angeles