1475 West 28th Street

Los Angeles, CA 90007

$1,000,000
Last Sold Price
6
Beds
4
Baths
2,597 Sq. Ft.
$385 / Sq. Ft.
2,597
Sq. Ft.
$385
per Sq. Ft.

Description

We are pleased to offer the opportunity to acquire this three (3) unit, six (6) bedroom + four (4) bathroom value-add student housing investment, located in the DPS Patrol Zone and walking distance to the University of Southern California (USC). The property is approximately 2,597 rentable square feet on a 7,430 square foot lot, with a unit mix consisting of one (1) vacant 3-bedroom + 2-bathroom unit, one (1) 2-bedroom + 1-bathroom unit, and one (1) 1-bedroom + 1-bathroom unit. The vacant unit allows...We are pleased to offer the opportunity to acquire this three (3) unit, six (6) bedroom + four (4) bathroom value-add student housing investment, located in the DPS Patrol Zone and walking distance to the University of Southern California (USC). The property is approximately 2,597 rentable square feet on a 7,430 square foot lot, with a unit mix consisting of one (1) vacant 3-bedroom + 2-bathroom unit, one (1) 2-bedroom + 1-bathroom unit, and one (1) 1-bedroom + 1-bathroom unit. The vacant unit allows an investor the opportunity to implement interior renovations, update/remodel the unit, rent to USC students, and achieve market rents. The other two units are currently not leased to students, and there's over 50% potential upside in rental income. To further increase cash flow, the lot size allows an investor the opportunity to construct an Accessory Dwelling unit (ADU). The property offers residents a highly desirable location, within the DPS Patrol Zone, and walking distance to campus and University Village - providing easy access to all of USC's landmarks, academic buildings, and entertainment options.
  1. Listed by Davis Saadian • DRE #01921748 • Brokerage DRE #01425795 • Keller Williams Beverly Hills

Property Details for 1475 West 28th Street

Zoning
LAR2
Parcel Number
5054031019
Total Units
3.0
Living Area
2597
Source Living Area
Vendor Enhanced
Area
Mid Los Angeles (C16)
Vacancy Rate
33%
Lot Size Area
7430

Location

Listing Courtesy of Keller Williams Beverly Hills, Davis Saadian, DRE #01921748

Sold By Keller Williams Beverly Hills, Davis Saadian, DRE #01921748

Add your commute
LISTING UPDATED: 08/15/2022 02:01 PM

Property Details for 1475 West 28th Street

StatusSold
MLS #22-167677
Days on Market58
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1922
Lot Size0.17 AC / 7,430 SF
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams Beverly Hills, Davis Saadian, DRE #01921748

Sold By Keller Williams Beverly Hills, Davis Saadian, DRE #01921748

Add your commute

Building Information for 1475 West 28th Street

Stories-Residences-Year Built1922Building Size-Lot Size0.17 AC / 7,430 SF

Payment Calculator

$6,497 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,457

Property Taxes

$1,040

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1475 West 28th Street

Community / Development
Community / Development
  • Number Of Units: 3
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 2
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $72,888
  • Net Operating Income: $54,110.00
  • Gross Income: $72,888
  • Cap Rate: 5.03%
  • Gross Rent Multiplier: $14.75
  • Total Annual Expense: 18778
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1706
  • Lot Size Square Feet: 7430
Parking Details
Parking Details
  • Parking Garage: Other, Driveway, Private
  • Total Parking: 3
  • Parking Features: Driveway, Private
Interior Features
Interior Features
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other, Shed(s), GuestHouse
Lease Terms
Lease Terms
  • Entry Date: 06-14-2022
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,900.00
  • Unit Actual Rent: $3,900.00
  • Unit Projected Rent: $3,900.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $954.00
  • Unit Actual Rent: $954.00
  • Unit Projected Rent: $1,700.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,220.00
  • Unit Actual Rent: $1,220.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $118,752.00
  • Assessed Improvement Percent: 37.79
  • Assessed Land Value: $195,516.00
  • Assessed Land Percent: 62.21
  • Assessed Total Value: $314,268.00

Property History for 1475 West 28th 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 1475 West 28th Street

Taxable ValueLand$600,000Additions$400,000Total$1,000,000
Tax Record2023$12,476 ($1,040 / month)
Home Facts
Total Finished SqFt2,597 SqFtAbove Grade Finished SqFt2,597 SqFtLot Size7,430 SqFtStyleTriplexYear Built1922ZoningLAR2CountyLOS ANGELESAPN5054-031-019

Schools near 1475 West 28th 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
Vermont Avenue 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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Similar Sold Homes

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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 Keller Williams Beverly Hills, Davis Saadian, DRE #01921748

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.