23
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$1,795,000
Est. payment /mo
12 BD
8 BA
4,100 SqFt
Active
1327 W 35th ST Los Angeles, CA 90007
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UPDATED:
12/05/2024 04:35 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,100 sqft
Price per Sqft $437
MLS Listing ID 24452686
Bedrooms 12
HOA Y/N No
Year Built 1913
Lot Size 6,908 Sqft
Property Description
We are pleased to offer the opportunity to acquire two (2) single-family residences, consisting of 12 bedrooms which can fit up to 19 beds. It is located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC).The two restored Craftsman homes were completely updated & remodeled in 2015 - featuring polished hardwood floors, stainless steel kitchen appliances, granite counter tops, and in-unit washer & dryers. Both properties have updated copper plumbing, electrical systems, roofs, and central HVAC.The structures were built in 1913, constructed of wood frame and stucco on a raised foundation, with a total square footage of 4,100 SF, on a 6,905 SF lot, zoned LARD1.5. The buildings have been reinforced and upgraded in compliancewith the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of one (1) 8-bedroom + 6-bathroom SFR, and one (1) 4-bedroom + 2-bathroom SFR. The bedrooms are spacious and furnished with beds, armoires, desks, mini-fridges, and individual thermostat controls. Combined with parental guarantees on some 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 young working professionals, and fully leased for the 2024 - 2025 year, with a gross income of $13,600/month. There's approximately 20% potential upside in rents, which an investor can achieve closer to about $17,400/month. The expansive lot size allows an investor to add even more value to the property by constructing a 3-bedroom + 3-bathroom ADU to further increase cash-flow (buyer to verify). Currently priced at a 6.75% Cap Rate excellent cash-flow investment opportunity.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Zoning LARD1.5
Interior
Flooring Wood
Fireplace No
Appliance Dishwasher, Refrigerator, Dryer, Washer
Exterior
Parking Features Assigned, Private
Total Parking Spaces 6
Building
Story 3
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5040003001
Special Listing Condition Standard
Listed by Davis Saadian • KW Advisors
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