Sold – 1414 W 30th St

Overview

Type
Sqft.
3,954.00
sqft.
Price Per Sqft.
$
153.01
CAP Rate
5.33
%
Lot Size
6,075.00
sqft.

Description

Rosano Partners is pleased to present the opportunity to acquire a four-plex located in the heart of Los Angeles. Built in 1923, the subject property offers a unit mix of 1 back house (2bd+1ba) that is sixteen hundred square feet, a 2-bedroom 2- bath, a 1-bedroom 1-bath, and 1 single. Gas and electricity are separately metered while water is master metered. The property has been maintained by the owner and kept up to par with the city’s requirements. The apartment sits on a 6,075 square foot lot with approximately 3,954 of gross leasable space. The average rent per square foot is $0.96 while the market rent ranges from $1.50-$2.00 per square foot. This identifies a rare opportunity to bring value to an asset to meet the market’s demand for student housing. With rents being 42% below market in a location that is on the upswing, a savvy investor can easily hear opportunity knocking. As your agent I say- answer the door.

Location Features
The subject property is situated on the corner of W 30th Street and Walton Avenue located only 0.5 miles from the University of Southern California. The property lies between W Adams Boulevard and W Jefferson Boulevard near the intersection of Jefferson and S Vermont Avenue. Being less than a mile from many shopping, restaurants, and entertainment options, tenants will benefit from the local offerings and public transportation.


Managing Agent

Edward G. Caballero

Senior Associate, Multi-Family Investment Sales
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