Deal numbers
A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.
Property details
- Building size
- 3,040 sqft
- Lot size
- 5,625 sqft
- Year built
- 1922
- Stories
- 1
- Garage spaces
- 0
- Heating
- Wall Furnace
- Cooling
- None,Ductless
- Pool
- None
- View
- None
- Status
- Active
- Days on market
- 0
- MLS #
- 249315260
About this property
1497 W 29th Street, Los Angeles.Exceptional 8-Unit Investment Opportunity Near USCPresenting an excellent investment opportunity in one of Los Angeles' established rental markets. Located walking distance from the University of Southern California (USC), 1497 W 29th Street is an income-producing 8-unit multifamily property offering an attractive opportunity for investors seeking long-term rental income and potential appreciation.The property features a desirable unit mix of six studio units and two one-bedroom, one-bathroom units, appealing to a broad tenant base that includes USC students, university faculty, and working professionals.Situated on a prominent corner lot, this gated property offers added privacy and security with a fully fenced perimeter, controlled-access entry, and strategically positioned security cameras. Additional tenant amenities include on-site laundry facilities and gated on-site parking.The property has benefited from several improvements completed within the last few years, including a newer roof, updated copper plumbing, and upgraded electrical systems. Additional features include a paved and gated parking area and a 100-gallon water heater. The property is master-metered for gas and electricity, providing a straightforward utility arrangement for ownership and management.An Exceptional LocationLocation is a key advantage of this investment. Situated within the USC Department of Public Safety (DPS) Patrol and Response Area, the property is conveniently positioned to attract students, faculty, and other renters seeking proximity to the university.The property also offers convenient access to the I-10 and I-110 freeways, providing connections to Downtown Los Angeles, Koreatown, and other major employment, shopping, dining, and entertainment destinations.With its proximity to USC, established rental appeal, convenient amenities, and eight-unit configuration, 1497 W 29th Street presents an attractive opportunity for investors looking to own multifamily real estate in the Los Angeles market.1497 W 29th Street -- A compelling opportunity to invest in a well-located multifamily property near USC.
Location
29 W 29th Street W
Los Angeles, Los Angeles, CA, 90007