1414 West 30th Street

Los Angeles, CA 90007

$1,380,000
Price
7
Beds
6
Baths
3,954 Sq. Ft.
$349 / Sq. Ft.
3,954
Sq. Ft.
$349
per Sq. Ft.

Description

Featuring spacious floorplans that average nearly 1,000 square feet each, the two structures occupy a corner lot near the intersection of Vermont Avenue and Jefferson Boulevard, the northwest corner of USC campus. A new owner may be able to add substantial value to the asset in a variety of ways through recapturing the approximate 51% in rent upside, by converting garage space to an ADU, or by reconfiguring the units to include additional bedrooms (Buyer to verify). One unit was recently renovated...Featuring spacious floorplans that average nearly 1,000 square feet each, the two structures occupy a corner lot near the intersection of Vermont Avenue and Jefferson Boulevard, the northwest corner of USC campus. A new owner may be able to add substantial value to the asset in a variety of ways through recapturing the approximate 51% in rent upside, by converting garage space to an ADU, or by reconfiguring the units to include additional bedrooms (Buyer to verify). One unit was recently renovated and houses USC students. Using this as a template and applying a similar plan to the remaining units could allow for a dramatic increase in cash flow. Students value the property's proximity to USC Village, the USC tennis and baseball facilities, as well as the campus classrooms and facilities that sit just blocks from the property. Rents are currently averaging only $1.53 per square foot, while other buildings in the immediate area have been able to achieve rents above $3.00 per square foot, particularly by taking advantage of the opportunity to house local students. Because the building contains four units, a new owner may be able to secure residential financing with a lower down payment than that needed for larger multifamily assets. This, coupled with the historically strong occupancy rates near USC campus and the potential for parental guarantees included in student housing leases, may allow for attractive and stable future cash flow.
  1. Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1414 West 30th Street

Zoning
LAR2
Parcel Number
5040024019
Total Units
4.0
Living Area
3954
Source Living Area
Vendor Enhanced
Area
Mid Los Angeles (C16)
Vacancy Rate
0
Lot Size Area
6075

Location

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019
Add your commute
LISTING UPDATED: 01/11/2024 12:01 AM

Property Details for 1414 West 30th Street

StatusActive
MLS #24-343689
Days on Market118
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1922
Lot Size0.14 AC / 6,075 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019
Add your commute

Building Information for 1414 West 30th Street

Stories1Residences-Year Built1922Building Size-Lot Size0.14 AC / 6,075 SF

Payment Calculator

$8,804 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,531

Property Taxes

$1,273

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1414 West 30th Street

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 2
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $72,720
  • Net Operating Income: $44,253.00
  • Gross Income: $76,320
  • Cap Rate: 3.21%
  • Gross Rent Multiplier: $18.08
  • Total Annual Expense: 29885
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1395
  • Lot Size Square Feet: 6075
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 0
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: One
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 01-04-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $788.00
  • Unit Actual Rent: $788.00
  • Unit Projected Rent: $1,800.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,827.00
  • Unit Actual Rent: $1,827.00
  • Unit Projected Rent: $2,400.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,445.00
  • Unit Actual Rent: $1,722.00
  • Unit Projected Rent: $5,000.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $306,000.00
  • Assessed Improvement Percent: 25.0
  • Assessed Land Value: $918,000.00
  • Assessed Land Percent: 75
  • Assessed Total Value: $1,224,000.00

Property History for 1414 West 30th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1414 West 30th Street

Taxable ValueLand$918,000Additions$306,000Total$1,224,000
Tax Record2023$15,281 ($1,273 / month)
Home Facts
Total Finished SqFt3,954 SqFtAbove Grade Finished SqFt3,954 SqFtLot Size6,075 SqFtStyleTriplexYear Built1922ZoningLAR2CountyLOS ANGELESAPN5040-024-019

Schools near 1414 West 30th Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 12
Public - 9 to 12
Charter - K to 5
Rating
School
Distance
John W. Mack Elementary School
PublicK to 5

Foshay Learning Center
PublicK to 12

Manual Arts Senior High School
Public9 to 12

Stem Preparatory Academy
CharterK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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1414 West 30th Street is a multi-family home for sale in Los Angeles, CA 90007. This property was listed for sale on January 3, 2024 by Marcus & Millichap, it's currently listed at $1,380,000. It has been on the market for a total of 118 days and was last sold on April 29, 2022. This listing's school district is Los Angeles Unified School District. Nearby schools include John W. Mack Elementary School, Foshay Learning Center and Manual Arts Senior High School. 1414 West 30th Street is a 7-bed, 6-bath, 3,954 sqft multi-family home built in 1922.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo, DRE #01357019

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.