$2,750,000
For Sale

1189 W 36th Place

Los Angeles, CA 90007
4923 sqft | 16 beds | 0.14 acres | #24473609
Listing OfficeKW Advisors
Browse 24 photos
Type:Multi-Family
Structure:House
Zone:Commercial

Description

We are pleased to offer the opportunity to acquire this four (4) unit, 16-bedroom, value-add student housing apartment complex, located in the highly desirable DPS Patrol Zone, less than 1 block to the University of Southern California (USC). This two-story building was constructed of wood frame and stucco on a raised foundation built in 1960 with a square footage of 4,923 on a 5,981-square foot lot. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of (4) 4-bedroom + 2-bathroom units. The investment boasts spacious floor plans, secured gated entry, an on-site laundry room for additional income, five (5) on-site parking spaces, and individually metered for gas and electricity. Three of the four units will be delivered vacant upon the close of escrow an excellent value-add opportunity to remodel and update the units to achieve top market rents.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 expansive lot size allows an investor to add even more value to the property by constructing an ADU to further increase cash-flow (about $5,500/month), generating an even higher yield/ net income. (Buyer to verify)

  • Property Details
      • Property SubtypeResidentialIncome
      • Property TypeMulti-Family
      • CountyLos Angeles
      • Original List Price$2,750,000
      • MLS #24473609
      • MLS #24473609
      • Cost2750000
      • Acres0.1374
      • Square Feet4923
      • Year Built1960
      • Bedrooms16
      • Stories2

Location

Jessie Espinosa | Century 21 Select Real Estate, TurlockReal Estate Group
$
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Down Payment

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10.0%

Interest Rate

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6.0%

Tax Rate

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2.6%
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$
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Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

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