1238 W 35th ST new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90007
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR25049725
HOA Y/N No
Year Built 1908
Lot Size 7,095 Sqft
Property Sub-Type Apartment
Property Description
The Best Location for Value-add USC off Campus Student Housing investment opportunity, only 2 Blocks away to University of Southern California (USC), located in highly Desirable USC DPS Safety Patrol Zone. 100% Fully occupied by USC students with parental guarantees on leases, and front house 6B3B pre-leased for the upcoming 2025-2026 school year with USC students as well. Currently collecting gross rents of $15,050/month, cap rate around 6.6%, GRM12.98. Highly demanding...easy access to all USC's landmarks, academic buildings, and entertainment options. Zoning LARD1.5. The subject property is composed of two separate structures (1238 W. 35th St. and 3554-3556 S Budlong Ave) and consists of 3 spacious units, with a unit mix consisting of (1) 6-bedroom + 3-bathroom unit of total rent $7850/month, and (2) 3-bedroom + 1-bathroom units of total rent $7200/month. The property has been recently fully updated/ remodeled - featuring laminated/wood floors, Newly painted, Updated kitchen with stainless steel kitchen appliances, lots of updated cabinets, pantry and counter tops, copper plumbing throughout ( buyer verify). The investment boasts spacious floor plans, secured gated entry, and on-site laundry. The property is approximately 3450 s.f., 7094 s.f. lot, 12 bed, 5 bath, living rooms, and on-site laundry room...This property has charming turn of the century details that you will adore. As a bonus, this Property offers 10 Private on-site Parking Spaces which the students loved so much, and 3 individually metered for gas and electricity and 2 individual water meters. The asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The property is collecting gross rents of $15,050/month. Don't miss!
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Zoning LARD1.5
Interior
Heating Central
Cooling Central Air,Wall/Window Unit(s)
Fireplace No
Appliance Dryer,Washer
Exterior
Parking Features Electric Gate,Private
Pool None
Community Features Sidewalks
Total Parking Spaces 10
Private Pool No
Building
Story 2
Sewer Unknown
Water Other
New Construction No
Others
Senior Community No
Tax ID 5040018011
Acceptable Financing Cash,Cash to New Loan,Conventional,1031 Exchange,Submit
Listing Terms Cash,Cash to New Loan,Conventional,1031 Exchange,Submit
Special Listing Condition Standard