Active
1189 W 36th Pl
Los Angeles CA, 90007
$2,750,000
$558.60 per sqft
Active
16 Beds
8 Baths
4,923 sqft
Multi-family
Built in 1960
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)
24-473609
MLSⓇ ID
December 19, 2024
Listed
January 14, 2025
Updated
Map
1189 W 36th Pl
Los Angeles CA, 90007
Interior Features
Total Stories
2
Bedrooms
16
Total Bathrooms
8
Appliances
Range/Oven, Refrigerator, Other, Washer, Dryer
Fireplace
No
Cooling
Yes
Cooling Description
Other
Heating
Yes
Heating Description
Other
Exterior/Building Features
Lot Size
0.14 Acres
Other Property Details
Area Name
Los Angeles Southwest
Days on Market
8
Garage
No
Parking
Private, Other
Parking Total
5
View
No
County
Los Angeles
Pool
No
Zoning
LARD1.5
Listed by Davis Saadian with KW Advisors
Listing Contact: 310-402-8958
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Data last updated 1/14/2025