1455 W 28th St - Apartments FOR SALE


Los Angeles, CA 90007- Koreatown
$1,850,000 USD
310-658-2668
1455 W 28th St, Los Angeles, CA for Sale
$1,850,000 USD
Apartments - FOR SALE
1/12
null | 7.71% Cap Rate

1455 W 28th St
Los Angeles, CA 90007
Koreatown


HIGHLIGHTS

  • USC Student Housing Investment Opportunity
  • Highly Desirable West Of Campus Location, Short Walking Distance to Campus
  • Located within the DPS Patrol Zone
  • High Yield 7.71% Cap Rate
  • 12 Bedroom + 7 Bathroom Turn-Key Investment
  • Both Structures Renovated in 2021

OVERVIEW

The Shamooelian Real Estate Group are pleased to offer the opportunity to acquire this high yield 7.71% Cap three (3) unit, 12 bedroom + 7 bathroom Student Housing investment opportunity, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The property is approximately 3,583 rentable square feet on a 5,672 square foot lot. The property has two (2) separate structures, with a unit mix of a duplex in the front comprising of 5 bedroom + 3 bathroom units. As well as an additional structure in the rear consisting of a 2 bedroom + 1 bathroom unit (non-conforming). All three units have been remodeled in 2021, with brand new flooring, updated electrical, brand new mini-split AC systems, brand new kitchens, and an in-unit washer & dryer. The investment is 100% occupied with USC students and fully leased for the 2024-2025 academic school year. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk lease investment that is poised for continued growth and excellent operating fundamentals. The property is currently grossing $14,240 per month with the tenants paying for all utilities of the property including Water/Gas/Electric. In addition, there's an excellent value-add opportunity to construct an ADU, and further increase cash flow for any investor (Buyer to Verify). Agent Remarks: 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. References to square footage or age are approximate. Buyer must verify the information above and bears all risk for any inaccuracies.

FOR SALE DETAILS

PRICE

$1,850,000 USD

PRICE/SF

$516 USD /SF

# OF UNITS

3

PRICE/UNIT

$616,667

CAP RATE

7.71%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Prime 7.71% Cap Student Housing Investment

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1910

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,672 SF

ZONING

LAR2

APN/PARCEL ID

5054-032-021

ASK ABOUT THIS PROPERTY

Adam ShamooelianKW Commercial Beverly HillsMore Info
310-658-2668

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Adam ShamooelianKW Commercial Beverly HillsMore Info
310-658-2668

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