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    1580 W 30th St

    Los Angeles, CA 90007
    • $6,375,000
    • STATUS: Active
    • ON SITE: 11 days
    • MLS #: 21-746004
    $6,375,000
    • 28
      BEDS
    • 0.22
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,400
      SQFT
    • $759
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1924
    County:

    School Ratings & Info

    Description

    We are pleased to offer the opportunity to acquire this turnkey eight (8) unit, twenty-eight (28) bedroom + twenty-eight (28) bathroom student housing master lease investment opportunity, located blocks to the University of Southern California (USC).The subject property was completely updated and remodeled in 2019, and features brand new hardwood floors, updated copper plumbing, quartz counter-tops, stainless steel kitchen appliances, tiled showers with glass enclosures, wall-mounted flat screen televisions, and new in-unit washer & dryers. The property is approximately 8,400 rentable square feet on a 9,679 square foot lot and is comprised of two (2) separate structures, with a unit mix consisting of four (4) 3-bedroom + 3-bathroom units, and four (4) 4-bedroom + 4-bathroom units. The investment is 100% occupied with USC students and fully leased for the 2021-2022 academic school year. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk master lease investment that is poised for continued growth and excellent operating fundamentals. The property is currently master leased to Tripalink Property Management until July 31, 2025, and currently making $392,160 per year with annual 3% rent increases.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-18T23:42:46.717. 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.
    www.desertarealuxuryhomes.com/homes/117999542
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    1580 W 30th St Los Angeles, CA 90007

    • Price: $6,375,000
    • Status: Active
    • MLS #: 21-746004
    28
    Beds
    0
    Baths
    0
    ½ Baths
    0.22
    Acres
    8,400
    SQFT
    $759
    $/SQFT
    1924
    Built
    Neighborhood:
    Mid Los Angeles
    County:
    Los Angeles
    Area:
    Mid Los Angeles
    Property Description
    We are pleased to offer the opportunity to acquire this turnkey eight (8) unit, twenty-eight (28) bedroom + twenty-eight (28) bathroom student housing master lease investment opportunity, located blocks to the University of Southern California (USC).The subject property was completely updated and remodeled in 2019, and features brand new hardwood floors, updated copper plumbing, quartz counter-tops, stainless steel kitchen appliances, tiled showers with glass enclosures, wall-mounted flat screen televisions, and new in-unit washer & dryers. The property is approximately 8,400 rentable square feet on a 9,679 square foot lot and is comprised of two (2) separate structures, with a unit mix consisting of four (4) 3-bedroom + 3-bathroom units, and four (4) 4-bedroom + 4-bathroom units. The investment is 100% occupied with USC students and fully leased for the 2021-2022 academic school year. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk master lease investment that is poised for continued growth and excellent operating fundamentals. The property is currently master leased to Tripalink Property Management until July 31, 2025, and currently making $392,160 per year with annual 3% rent increases.
    Exterior Features

    Lot Size Area 9679 Other Structures None Parking Garage Assigned Total Parking 8

    Interior Features

    Baths Total 28.00 Cooling Other Equipment OtherFreezerRange/OvenMicrowaveIce MakerRefrigeratorTrash CompactorWasherGarbage Disposal Heating Other

    Property Features

    Assessed Total Value 2050750 Gross Income 392160 Gross Operating Income 392160 Like Units1 4 Like Units2 4 Net Operating Income 302780.00 Number Of Buildings 2 Number Of Units 8 Sale Type Standard Source Living Area Owner Source Lot Size Area Vendor Enhanced Total Annual Expense 89380 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Lar3

    Listing provided courtesy of Davis Saadian DRE#01921748 of Keller Williams Beverly Hills.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-06-18T23:42:46.717. 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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    The Sandi Phillips Team | Compass
    74199 El Paseo, Suite 200
    Palm Desert CA, 92260