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$ 3,775,000
Est. payment /mo
New
1238 W 30th ST Los Angeles, CA 90007
14 Beds
9 Baths
5,295 SqFt
UPDATED:
Key Details
Property 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
HOA Y/N No
Year Built 2015
Lot Size 6,952 Sqft
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 C16 - Mid Los Angeles
Zoning LAR3
Interior
Heating Central
Cooling Dual
Fireplace No
Appliance Dishwasher, Disposal, Refrigerator, Trash Compactor, Vented Exhaust Fan, Dryer, Washer
Laundry Stacked
Exterior
Parking Features Off Site
Total Parking Spaces 5
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5039001050
Special Listing Condition Standard
Listed by Davis Saadian • Keller Williams Hollywood Hills