1238 W 35th St, Los Angeles, CA 90007

$1,880,000
12
BD
5
BA
3,450
SqFt
Sold Price
$1,880,000
List Price
$1,975,000
Closing Date
Jul 29, 2022
MLS#
22-166461
Year Built
1908
Bedrooms
12
Bathrooms
5
Living Sq. Ft
3,450
Lot Size
7,092
Days on Market
49
Property Type
Multifamily

Property Description

We are pleased to offer the opportunity to acquire this twelve (12) bedroom + six (6) bathroom student investment opportunity, located in the DPS Patrol Zone and just blocks to the University of Southern California (USC). The subject property is composed of two separate structures (1238 W. 35th St. & 3554-3556 Budlong Ave) and consists of three (3) spacious units that have been recently fully updated/ remodeled - featuring brand new hardwood floors, stainless steel kitchen appliances, updated kitchen cabinets, copper plumbing throughout, and on-site laundry for additional income. The property is approximately 3,450 rentable square feet on a 7,092 square foot lot, with a unit mix consisting of one (1) 6-bedroom + 4-bathroom unit, and two (2) 3-bedroom + 1-bathroom units. The property is currently 100% fully occupied with USC students and pre-leased for the upcoming 2022-2023 school year with students as well.Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The property is collecting gross rents of $12,050/month. The subject property offers residents a highly desirable location - providing easy access to all of USC's landmarks, academic buildings, and entertainment options.

Additional Information

Other Buildings
None
Heat
Other
Cooling
Other
View
City
Number of Cars in Garage
Assigned, Other, Parking for Guests - Onsite, Auto Driveway Gate, Private

Mortgage Calculator

Amount of Loan
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Calculator source: Real Geeks

Courtesy of , Davis Saadian - CA DRE# Selling Office: .

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