1327 W 35th St - Apartments FOR SALE


Los Angeles, CA 90007- South Central LA
$1,750,000 USD
310-402-8958
1327 W 35th St, Los Angeles, CA for Sale
$1,750,000 USD
Apartments - FOR SALE
1/28
null | 7% Cap Rate

1327 W 35th St
Los Angeles, CA 90007
South Central LA


HIGHLIGHTS

  • Current High Yield 7% Cap Rate | 10.8x GRM
  • Fully Occupied witH USC Students & Young Professionals
  • Located in the desirable DPS Patrol Zone
  • Two (2) Single Family Residences
  • Updated Copper Plumbing, New Roof, Hardwood Floors, In-Unit Washer & Dryers
  • 6,905 Spacious Corner Lot - Ability to construct an ADU to further increase cashflow

OVERVIEW

The Davis Saadian Group is pleased to offer the opportunity to acquire two (2) single-family residences, consisting of 15-beds which can fit up to 19-beds. The properties are located in the highly desirable DPS Patrol Zone, and just minutes to the University of Southern California (USC). The two restored Craftsman homes were completely updated & remodeled in 2015 - featuring polished hardwood floors, stainless steel kitchen appliances, granite counter tops, and in-unit washer & dryers. Both properties have updated copper plumbing, electrical systems, new roofs, and central HVAC. The structures were built in 1913, constructed of wood frame and stucco on a raised foundation, with a total square footage of 4,100 SF, on a 6,905 SF lot, zoned LARD1.5. The buildings have been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of one (1) 8-bedroom + 6-bathroom SFR, and one (1) 4-bedroom + 2-bathroom SFR. The bedrooms are spacious and furnished with beds, armoires, desks, mini-fridges, and individual thermostat controls. Combined with parental guarantees on some 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 young working professionals, fully leased with a gross income of $13,600/month. There’s approximately 20% potential upside in rents, which an investor can achieve closer to about $17,400/month. The expansive lot size allows an investor to add even more value to the property by constructing a 3-bedroom + 3-bathroom ADU to further increase cash-flow (buyer to verify). Currently priced at a 7% Cap Rate – Excellent cash-flow investment opportunity. Please email for the Executive Summary/ Financial Analysis. 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

$1,750,000 USD

PRICE/SF

$426 USD /SF

# OF UNITS

2

PRICE/UNIT

$875,000

CAP RATE

7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1913

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,905 SF

ZONING

LARD1.5

APN/PARCEL ID

5040-003-001

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.