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Listing Courtesy Of: Keller Williams Hollywood Hills, 310-623-1300, Davis Saadian
Local Realty Services Provided By: Keller Williams Realty Larchmont
US / CA / Los Angeles / West University / 1189 W 36th Pl
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US / CA / Los Angeles / West University / 1189 W 36th Pl
1189 W 36th Pl, Los Angeles, CA 90007
16 Beds
8 Baths
sq ft
ac
US / CA / Los Angeles / West University / 1189 W 36th Pl

1189 W 36th Pl, Los Angeles, CA 90007

Estimation provided by Keller Williams Realty, LLC.
16 Beds
8 Baths
sq ft
ac
Sold
Sold
Open House:
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Property Description

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)

Property Details

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Overview
Property Type
Residential Income
Property Size
sq ft
Year Built
1960
Days on Site
216 Days
Parking
5 Parking Spaces
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Car-Dependent Walkable Very Walkable
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