1460 28Th StLos Angeles, CA 90007

Property Details for 1460 28Th St

Year built

1913

Property size (Sq ft)

4,016 SF

Property type

Dormitories

Property subtype

Student housing

Description

Exceptional investment opportunity: This meticulously renovated student housing property in Los Angeles, CA, presents a compelling proposition for discerning investors. Located at 1460 W 28th St, 90007, this property consists of two buildings totaling 4,016 square feet on a 7,425 square foot lot, zoned LAR2. Built in 1913 and extensively renovated in 2020, the property boasts 11 bedrooms and is currently 100% occupied with USC students, generating a net operating income (NOI) of $140,000 annually, representing a 6.5% cap rate. The asking price is $2,050,000. Each unit features modern upgrades including hardwood floors, stainless steel appliances, quartz countertops, tiled showers, in-unit laundry, and high-end finishes. The property benefits from a new roof, updated copper plumbing, and double-pane windows, with individual gas and electric meters for each unit. The current lease agreements extend into the 2024-2025 academic year, providing immediate cash flow. The property's substantial lot size presents a significant opportunity for expansion, such as adding an accessory dwelling unit (ADU), further enhancing the property's value and income potential. The current monthly gross income is $13,450, with potential for a 15% rent increase. Landlord expenses are minimal, as tenants cover water, trash, gas, and electricity. This turnkey investment offers a low-risk, high-reward opportunity with excellent operating fundamentals and significant upside potential.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0294

Longitude

-118.293

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].