1189 W 36Th Place

Los Angeles, CA 90007

$2,750,000

List Price

16

bed Beds

8

shower Baths

4,923 sqft

straighten / sqft

1960

calendar_month Built

Property 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)

Listing Information

List Price $2,750,000
Status Active
MLS 24473609
Type Residential Income
Year Built 1960
Lot Size 5,983
Structure Size 4,923
DOM 8
Courtesy Of KW Advisors
Listing Agent Davis Saadian DRE#01921748

Interior Features

Total Bedroom
Bedrooms 16
Total Bathroom
Bathrooms 8

Exterior Information

Maps

Listing information courtesy of: Davis Saadian, KW Advisors 310-402-8958. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 27th, 2024 at 1:04 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.