1142 W 35th Street,  Los Angeles CA, 90007 (Residential Income)

3,413 sqft
Status: Sold
MLS#: PW16168327
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Last Updated: 12/10/2016 7:23 PM
Description for 1142 W 35th Street Los Angeles, CA 90007
1142 West 35th Street is a three-unit student housing property less than one block from USC within the DPS and CSC patrol areas and within walking distance of the new $700MM mixed-use University Village project. Vacancy in this area is negligible; the subject property is fully occupied by USC students. The offering includes a six-bedroom/three-bath front house and a rear duplex with two two-bedroom/one-bath units. Both buildings were extensively renovated in 2007 and have been well-maintained since. The property features some new windows, air conditioning in all bedrooms, and granite countertops and newer cabinetry in the front house. It also has income-generating on-site parking and laundry. The units are furnished and the current owner is willing to include the furnishings in the sale. This is an excellent turnkey investment opportunity with strong cash flow on current rents and the potential to further improve units in order to realize substantial upside in rents. Additionally, a new investor could reduce expenses by streamlining management.
Price
Sold Price:
$1,410,000
Sold Date:10/07/2016
Los Angeles
3,413 (approx)
PW16168327
Closed
Description
1142 West 35th Street is a three-unit student housing property less than one block from USC within the DPS and CSC patrol areas and within walking distance of the new $700MM mixed-use University Village project. Vacancy in this area is negligible; the subject property is fully occupied by USC students. The offering includes a six-bedroom/three-bath front house and a rear duplex with two two-bedroom/one-bath units. Both buildings were extensively renovated in 2007 and have been well-maintained since. The property features some new windows, air conditioning in all bedrooms, and granite countertops and newer cabinetry in the front house. It also has income-generating on-site parking and laundry. The units are furnished and the current owner is willing to include the furnishings in the sale. This is an excellent turnkey investment opportunity with strong cash flow on current rents and the potential to further improve units in order to realize substantial upside in rents. Additionally, a new investor could reduce expenses by streamlining management.
Listing Information
Property Type: Cluster, Other
0.15 Acres 675,100 sq.ft. 3,413 (approx)
$413.13 1957
2 Total
Neighborhood
Room Information
Exterior / Lot Features
6 Parking Spaces
Urban
Driving Directions
Cross Streets: Jefferson & Vermont
Financial Considerations
5040028020
$106,740 Income ,$32,321Expense
Listing Price History

Los Angeles Real Estate

Los Angeles is located in California. Los Angeles, California 90007 has a population of 3,804,503.

The median household income in Los Angeles, California 90007 is $49,745. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in Los Angeles 90007 is 34.1 years.

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Courtesy: Steven M. Bogoyevac, Broker Steven Bogoyevac
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