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1414 30th Street

Los Angeles, CA 90007

$1,380,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $349 / sqft

1922

calendar_month Built

Property Description

Featuring spacious floorplans that average nearly 1,000 square feet each, the two structures occupy a corner lot near the intersection of Vermont Avenue and Jefferson Boulevard, the northwest corner of USC campus. A new owner may be able to add substantial value to the asset in a variety of ways through recapturing the approximate 51% in rent upside, by converting garage space to an ADU, or by reconfiguring the units to include additional bedrooms (Buyer to verify). One unit was recently renovated and houses USC students. Using this as a template and applying a similar plan to the remaining units could allow for a dramatic increase in cash flow. Students value the property's proximity to USC Village, the USC tennis and baseball facilities, as well as the campus classrooms and facilities that sit just blocks from the property. Rents are currently averaging only $1.53 per square foot, while other buildings in the immediate area have been able to achieve rents above $3.00 per square foot, particularly by taking advantage of the opportunity to house local students. Because the building contains four units, a new owner may be able to secure residential financing with a lower down payment than that needed for larger multifamily assets. This, coupled with the historically strong occupancy rates near USC campus and the potential for parental guarantees included in student housing leases, may allow for attractive and stable future cash flow.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 1414 30th Street
City Los Angeles
State CA
Zip 90007
County Los Angeles
Listing Agent Roderick 'Rick' Raymundo DRE#01357019
Courtesy Of Marcus & Millichap
MLS 24343689
List Price $1,380,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 6,075
Year Built 1922
DOM 12

Exterior Information

Maps

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Listing information courtesy of: Roderick 'Rick' Raymundo, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of Jan 11th, 2024 at 3:21 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.