Los Angeles, CA 90007 1460 W 28th Street
$2,050,000
12 more
Presented By: Davis Saadian with KW Advisors;
Home Details
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.
Presented By: Davis Saadian with KW Advisors;
Interior Features for 1460 W 28th Street
Bedrooms
Total Bedrooms11
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths7
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Fireplace Y/NNo
Heating Y/NNo
Total Stories2
General for 1460 W 28th Street
Additional Parcels Y/NNo
AppliancesDisposal, Dryer, Washer
Architectural StyleCraftsman
Attached Garage No
Cap Rate6.5
Carport Y/NNo
CityLos Angeles
CountyLos Angeles
Days on Market8
Directions1460 W. 28th Street | Los Angeles, CA 90007
Electric On Property Y/NNo
Full Baths
Garage Y/NNo
Gross Income161400.0
Home Owner AssocNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsMultiSplit
Lot Size Square Feet7427.0
Lot Size UnitsSquareFeet
MLS AreaC16 - Mid Los Angeles
MobileHomeRemainsYNNo
Net Operating Income132186.0
New ConstructionNo
NumberOfUnitsTotal2
Occupancy TypeTenant
Private PoolNo
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
View Y/NNo
Waterfront Y/NNo
Year Built1906
ZoningLAR2
Exterior for 1460 W 28th Street
Building Area Total4016.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Dimensions55x135
Lot Size Acres0.1705
Lot Size Area7427.0
Number of Buildings2
Open Parking Y/NNo
Parking FeaturesAssigned
SpaNo
Total Parking1.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480