1026 W 24th ST Active

Los Angeles,CA 90007

$ 1650000

5 Beds

4 Baths

2854 SqFt


Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,854 sqft

Price per Sqft $578

MLS Listing ID 24438075

Bedrooms 5

HOA Y/N No

Year Built 1940

Lot Size 7,244 Sqft

Property Description

We are pleased to present a four (4) unit plus one (1) non-conforming unit apartment building located at 1026 W 24th Street in Los Angeles, California. The subject property is located in an ideal University Park location, north of W Jefferson Boulevard and east of S Hoover Street. University Park is known for its historic culture, rich amenities, and hosting the renowned University of Southern California. The University Park market is a rapidly changing housing market, exhibiting itself as one of the strongest rental residential markets in the city of Los Angeles. The University of Southern California, currently enrolling more than 45,000 undergraduate, graduate, and professional students, is one of the most prestigious universities in the country. Roughly 70% of USC students live off-campus, and with enrollment comprised of more graduate and professional students than undergraduate students, the demand for off campus housing near the school is continually strong. Rent growth in the area is propelled by the short-term nature of a college students tenure. There is no shortage of nearby amenities within walking distance, including popular restaurants such as Bacaro LA, The Fields, and Caveman Kitchen. Today, the University Park neighborhood contains an outstanding array of museums, galleries, theaters, sport venues, gardens, libraries, and churches. With its rich mixture of education, entertainment, art, and culture, the past and the future, the University Park neighborhood offers exciting discoveries for people all ages. Built in 1940, this property consists of a great unit mix of two (1) studio / one-bathroom units, one (1) two-bedroom / one-bathroom unit with an attached non conforming unit / one-bathroom space attached (potential to add as another permitted unit), and two (2) three-bedroom / two-bedroom units. Two (2) units will be delivered vacant. Select units have also been recently renovated and are leased partially furnished. Gas and Electric are separately metered and there have been recents updates to the plumbing, water heaters, paint and landscaping. This charming mid century asset has plenty of on-site parking in the rear with enough space to potentially build additional ADU unit(s). Tenants will love being within close proximity of many trendy restaurants, nightlife, and entertainment options such as The Velaslavasay Panoama, Nature's Brew by Bacari, Hoover Recreation Center, Everytable, Planet Fitness, Shrine Auditorium and Expo Hall, and USC DPS patrol area. Being less than a mile away from the campus of USC, student tenants will have an easy and convenient commute.Positioned in an ideal University Park location that is DPS patrolled, this offering presents an exceptional opportunity for an investor to capitalize on a student housing asset that qualifies for 30-year fixed residential financing with good opportunities to add at least one (1) ADU.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LARD1.5

Interior

Heating None

Flooring Wood

Fireplaces Type Primary Bedroom

Fireplace Yes

Appliance Gas Cooktop,Disposal,Microwave,Oven,Refrigerator,Dryer,Washer

Exterior

Parking Features Driveway

Pool None

View Y/N Yes

View City Lights

Attached Garage Yes

Total Parking Spaces 5

Private Pool No

Building

Lot Description Front Yard,Landscaped,Rectangular Lot

Story 2

Entry Level Multi/Split

Architectural Style Craftsman

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5124008017

Security Features Fire Detection System,Smoke Detector(s)

Special Listing Condition Standard

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