1238 West 35th Street Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90007
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 3,450 sqft
Price per Sqft $637
MLS Listing ID AR-25049725
Year Built 1908
Lot Size 7,094 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 pre-leased for the upcoming 2025-2026 school year with USC students. Currently collecting gross rents of $15,050/month, cap rate around 7%, GRM12.17. 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 about 11 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 Sw
Zoning LARD1.5
Interior
Heating Central
Laundry Dryer Included,Washer Included
Exterior
Parking Features Private,Auto Driveway Gate
Pool None
Community Features Sidewalks
Building
Lot Description Lot 6500-9999
Sewer Unknown