1414 30th Street, Los Angeles

$1,380,000

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5 Beds
4 Baths
3,954 Sqft
.14 Acre
0 Garage

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.

Essential Information

MLS® #
24343689
Price
$1,380,000
Bedrooms
5
Bathrooms
4.00
Square Footage
3,954
Acres
0.14
Year Built
1922
Type
Residential Income
Status
Active

Community Information

Address
1414 30th Street
Area
C16 - Mid Los Angeles
City
Los Angeles
County
Los Angeles
Zip Code
90007
Senior Community
N

Amenities

Parking
Assigned
Garages
Assigned

Interior

# of Stories
1
Stories
One

Additional Information

Date Listed
January 3rd, 2024
Days on Market
121
Zoning
LAR2

Listing Details

Agent
Roderick 'rick' Raymundo
Office
Marcus & Millichap

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Based on information from California Regional Multiple Listing Service, Inc. as of May 3rd, 2024 at 8:55am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.