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$ 1,050,000
Est. payment /mo
Active
1477 W 29th Street Los Angeles, CA 90007
6 Beds
2,328 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 2,328 sqft
Price per Sqft $451
MLS Listing ID CL26833429
Bedrooms 6
HOA Y/N No
Year Built 1907
Lot Size 5,628 Sqft
Acres 0.13
Property Sub-Type OTHER
Property Description
We are pleased to present the opportunity to acquire 1477 W. 29th Street, a fully renovated duplex student housing investment located in the highly coveted West of Campus neighborhood within the USC DPS Patrol Zone. Situated just blocks from the University of Southern California, the property benefits from one of the strongest student housing rental markets in Los Angeles, consistently achieving premium rents, full occupancy, and strong year-round tenant demand. The property is currently 100% vacant, with a scheduled rental income of approximately $9,500 per month. The property consists of a beautifully upgraded 6-bedroom + 3-bathroom craftsman single family residence originally built in 1907, along with a detached studio ADU, totaling approximately 2,328 rentable square feet situated on a 5,626 square foot lot. Both units have undergone extensive renovations featuring modern, high-end finishes throughout, including hardwood flooring, updated countertops, stainless steel appliances, tile showers with glass enclosures, in-unit washer and dryers, furnished bedrooms, updated kitchens and bathrooms, recessed lighting, and contemporary fixtures. The property also features gated access, and a large outdoor area, all highly desirable amenities for the USC student demographic. Operationally, the asset is highly efficient, with tenants responsible for all utilities; gas, water, trash and electricity, helping minimize landlord expenses and maximize net operating income. Offered at approximately a 9.15% cap rate and 9x GRM, the asset represents a rare plug-and-play investment opportunity combining strong in-place cash flow, and long-term appreciation potential in one of Los Angeles' most resilient and supply-constrained rental submarkets.
Location
State CA
County Los Angeles
Zoning LAR2
Interior
Heating Central
Fireplace No
Laundry Dryer, Washer, Inside
Building
New Construction No
Others
Tax ID 5054034014
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Listed by Davis Saadian • Keller Williams Hollywood Hills
NEARBY SCHOOL & BUSINESS