1238 W 30th St Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90007
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,295 sqft
Price per Sqft $712
MLS Listing ID 25530101
Bedrooms 14
Year Built 2015
Lot Size 6,954 Sqft
Acres 0.1596
Property Sub-Type Multi-Family
Property Description
We are pleased to offer the opportunity to acquire this five (5) unit, turn-key student housing apartment complex, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The site is well situated in the pristine rare North of campus pocket, consisting of a triplex built in 1907, and a duplex built in 2015. The properties and all five (5) units have been completely updated & remodeled - featuring brand new hardwood floors, stainless steel kitchen appliances, quartz counter tops, tiled showers with glass enclosures, in-unit washer & dryers, wall-mounted flat screen televisions, and high-end finishes throughout the units. The property is fully gated and includes modern spacious units, garaged parking, and an outdoor common area with a gas barbecue and hot tub for students to enjoy. The investment features a new roof, updated copper plumbing, double pane windows, and individually metered for water, gas & electricity (the tenants pay for all utilities). The building is approximately 5,295 rentable SF on a 6,952 SF lot, consisting of (3) 3-bedroom + 2-bathroom units, (1) 4-bedroom + 2-bathroom unit, and (1) studio unit. 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 year, with a gross income of $26,550/month. The investment is priced at a current 7.01% Cap Rate & 11.8x GRM. Please email for the Executive Summary/ Financial Analysis.
Location
State CA
County Los Angeles
Area Mid Los Angeles
Zoning LAR3
Rooms
Other Rooms Other
Interior
Heating Other, Central
Cooling Dual, Other
Equipment Freezer, Range/Oven, Recirculated Exhaust Fan, Refrigerator, Stackable W/D Hookup, Trash Compactor, Vented Exhaust Fan, Washer, Dryer, Other, Garbage Disposal, Ice Maker, Dishwasher
Laundry In Unit
Exterior
Parking Features Garage - 4+ Car, Other, Offsite
Garage Spaces 5.0
Building
Story 2
Level or Stories Multi/Split
Others
Special Listing Condition Standard