REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Sat

Mar

Sun

Mar

Mon

Mar

Josh Canova

Engel & Völkers

josh.canova@evrealestate.com +1(858) 361-7010

$ 2,345,000

Est. payment -/mo

Save

New

1238 W 35th ST Los Angeles, CA 90007

7,095 Sqft Lot

UPDATED:

03/12/2025 07:44 PM

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

Listed by Gina Ma • IRN Realty • 626-215-5788

Josh Canova

Advisor | License ID: C135485

+1(858) 361-7010

GET MORE INFORMATION