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Available For Sale - Multifamily

7,148 SF | Show Pricing $

AVAILABILITY DETAILS

Size
7,148 SF
Price/SF
Show Pricing $
Listing ID
SA453775
Notes
SVN is pleased to present an opportunity to acquire 36th Street University Apartments located half a block away from USC West Campus, southwest of Downtown Los Angeles. First time on the market in over 20 years, the property consists of 9 units comprised of ALL 2 bedroom/1 bath units with an average size of ~800SF/unit and is situated on an R3 zoned lot in excess of 9,000 SF. The structure is a 2-story walkup, wood-frame stucco construction built in 1964 and includes a total of 9 parking spaces (1 space per unit).

Seller had recently completed the city mandated seismic soft-story parking work and recently renovated unit 1 which will be delivered vacant at close of escrow. Utilities are separately metered for gas and electric, master metered for water. Roof and plumbing are in average condition. The property features an on-site laundry room with 1 washer and 1 dryer owned by Seller. Most units have some form of upgrades (ie. laminate floors, new windows, updated cabinets, bathroom vanity). This investment offers an ideal value-add opportunity with approximately 35% upside in rent growth and a potential student housing conversion given the proximity to USC and nearby retail shops and restaurants.



**PLEASE DO NOT DISTURB TENANTS - DRIVE BY ONLY.
Uses
Multifamily

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Michael Chang BRE#01880895, SVN | Rich Investment Real Estate Partners
BRE# 01880895