Property listed by Coldwell Banker Realty, Chelsea Roger 714-356-3338
$2,999,000
A newer-construction multifamily investment opportunity in the desirable Exposition Park neighborhood of Los Angeles, just minutes from the University of Southern California (USC). This four-unit asset offers a 7.5% Cap Rate and features 25 bedrooms, each complete with its own private en-suite bathroom, offering modern construction, established rental income, and… Read More long-term investment potential. The property offers exceptional versatility across multiple housing strategies, including student housing and co-living arrangements. Each of the four units features its own spacious communal area, providing residents with comfortable shared spaces while maintaining the privacy of individually appointed bedrooms and bathrooms. Additional amenities include Paid Off Solar, in-unit washers and dryers, air conditioning, solar panels, a two-car garage, and ample on-site parking, enhancing tenant appeal while providing practical conveniences. The property currently benefits from strong occupancy, with 23 of the 25 bedrooms rented, providing immediate income and additional potential through the lease-up of the remaining bedrooms. Strategically located near USC, the property provides convenient access to Exposition Park, the Los Angeles Memorial Coliseum, BMO Stadium, the California Science Center, dining, shopping, and public transportation connecting residents to Downtown Los Angeles and surrounding employment and entertainment destinations. The combination of newer construction, a substantial 25-bedroom configuration, private en-suite bathrooms, modern amenities, and established rental income presents an opportunity to acquire a distinctive multifamily asset with the potential for long-term income stability and future rental growth. With immediate income potential, additional leasing upside, and a prime location near USC, 1529 W 35th Place offers an opportunity to acquire a substantial multifamily property in one of Los Angeles' most active rental corridors. Read Less
Listing Snapshot
Days Online
0
Last Updated
Property Type
Quadruplex
Square Ft.
8,159
Lot Size
0.16 Acres
Year Built
2024
MLS Number
OC26241927
Additional Details
Property Access
Road Surface: AlleyPaved
Appliances & Equipment
Dishwasher, GasOven, Microwave, Refrigerator
Building
Built in 2024, 2 buildings, 3 stories, Levels: ThreeOrMore, Entry level: 1, Entry location: 1
Community
Gutters, StormDrains, StreetLights, Urban
Cooling
CentralAir
Expenses
Insurance: $6,000, Operating: $25,000
Fence
WroughtIron
Fireplaces
None
Floors
Vinyl
Garage
2 spaces
Heating
Central
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $288,000, Net Operating Income: $225,000
Interior Features
RecessedLighting
Laundry
CommonArea
Lot
0.1561 acres, TwoToFiveUnitsAcre, FrontYard
Parking
6 open parking spaces, 8 total parking spaces, Garage
ElectricityAvailable, NaturalGasAvailable, PhoneAvailable, SewerAvailable, WaterAvailable, Water Source: Public, 4 separate electric meters, 4 separate gas meters
Windows
TriplePaneWindows
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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