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Sold

1189 W 36th Pl

1189 W 36th Pl, Los Angeles, CA 90007

$2,500,000
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)

16
beds

8
baths

4,923 Sq.Ft. LIVING AREA

5,983 Sq.Ft. lot

Davis Saadian

Davis Saadian

Features & Amenities

Interior

  • total bedrooms16
  • Total bathrooms8
  • APPLIANCES Range/Oven, Refrigerator, Other, Washer, Dryer

Area & Lot

  • Status Sold
  • Living Area4,923 Sq.Ft.
  • Lot Area5,983 Sq.Ft.
  • MLS® ID24-473609
  • TypeMulti-Family
  • YEAR BUILT1960

Exterior

  • STORIES2
  • parkingPrivate, Other
  • HEAT TYPEOther
  • AIR CONDITIONINGOther

Financial

  • Sales Price$2,500,000
  • Zoning LARD1.5

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