1236-1238 W 30th St - Apartments FOR SALE


Los Angeles, CA 90007- South Central LA
$4,150,000 USD
310-402-8958
1236-1238 W 30th St, Los Angeles, CA for Sale
$4,150,000 USD
Apartments - FOR SALE
1/29
null | 6.25% Cap Rate

1236-1238 W 30th St
Los Angeles, CA 90007
South Central LA


HIGHLIGHTS

  • CURRENT STABILIZED HIGH YIELD 6.25% CAP RATE
  • 100% OCCUPIED WITH USC STUDENTS
  • IN-UNIT WASHERS & DRYERS, STAINLESS STEEL APPLIANCES, HARDWOOD FLOORS, MODERN CABINETRY, & HOT-TUB
  • NEW ROOF & UPDATED COPPER PLUMBING
  • TRIPLEX & NEWLY BUILT DUPLEX (2015)
  • PRIME NORTH OF CAMPUS LOCATION, WALKING DISTANCE TO USC & LOCATED IN THE DPS PATROL ZONE

OVERVIEW

The Davis Saadian Group is 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. PLEASE NOTE THE FOLLOWING: 1) DO NOT DISTURB THE TENANTS. 2) Submit Offer on a CAR Residential-Income Purchase Agreement. 3) Interior Inspection/Books & Records Granted with an Accepted Offer. 4) Submit Proof of Funds & Pre-Qualification Letter with Offer. 5) Seller Selects all Services. Disclaimer: All information has been secured from sources we believe to be reliable. However, we make no representation or warranties, expressed or implied, as to the accuracy of the information provided, including square footage, lot size, permitted or un-permitted spaces, and/or bedroom/bathroom count. Buyer is advised to independently verify the accuracy of this information through personal inspections and/or with appropriate professionals. Buyer bears all risk for any inaccuracies.

FOR SALE DETAILS

PRICE

$4,150,000 USD

PRICE/SF

$784 USD /SF

# OF UNITS

5

PRICE/UNIT

$830,000

CAP RATE

6.25%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2015

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

LAR3

APN/PARCEL ID

5039-001-050

ASK ABOUT THIS PROPERTY

Davis SaadianDavis Saadian GroupMore Info
310-402-8958

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Davis SaadianDavis Saadian GroupMore Info
310-402-8958

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.