1477 W 29th Street,Los Angeles, CA 90007
Los Angeles, CA 90007
Description
We are pleased to present the opportunity to acquire 1477 W. 29th Street, a fully renovated duplex student housing investment located in the highly coveted West of Campus neighborhood within the USC DPS Patrol Zone. Situated just blocks from the University of Southern California, the property benefits from one of the strongest student housing rental markets in Los Angeles, consistently achieving premium rents, full occupancy, and strong year-round tenant demand. The property is currently 100% vacant, with a scheduled rental income of approximately $9,500 per month. The property consists of a beautifully upgraded 6-bedroom + 3-bathroom craftsman single family residence originally built in 1907, along with a detached studio ADU, totaling approximately 2,328 rentable square feet situated on a 5,626 square foot lot. Both units have undergone extensive renovations featuring modern, high-end finishes throughout, including hardwood flooring, updated countertops, stainless steel appliances, tile showers with glass enclosures, in-unit washer and dryers, furnished bedrooms, updated kitchens and bathrooms, recessed lighting, and contemporary fixtures. The property also features gated access, and a large outdoor area, all highly desirable amenities for the USC student demographic. Operationally, the asset is highly efficient, with tenants responsible for all utilities; gas, water, trash and electricity, helping minimize landlord expenses and maximize net operating income. Offered at approximately a 9.15% cap rate and 9x GRM, the asset represents a rare plug-and-play investment opportunity combining strong in-place cash flow, and long-term appreciation potential in one of Los Angeles' most resilient and supply-constrained rental submarkets.
Details
| MLS # | 26833429 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1907 |
| Days On Site | 125 |
| Listing Provided By | Keller Williams Hollywood Hills | Davis Saadian |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 4 |
| SQ Feet | 2,328 |
| Story(s) | 2 |
| Units | 2 |
| Building(s) | 2 |
| Zoning | LAR2 |
| Acreage | 0.13 |
Interior
| Heating | Central |
|---|---|
| Heating Yes / No | Yes |
| Interior Features | Ceiling Fans |
| Appliances | Microwave, Refrigerator, Dryer, Washer |
Parking
| Parking Features | Gated |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90007 |
| Area | C16 Mid Los Angeles |
| Listing VS Median (in 90007) | |
Price: $1,050,000 low | high Med: $1,520,000 sqft: 2,328 low | high Med: 3,905 $ / sqft: $451 low | high Med: $389 On site: 125 low | high Med: 20 | |
Market Activity 90007
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90007 |
| Area | C16 Mid Los Angeles |
| Listing VS Median (in 90007) | |
Price: $1,050,000 low | high Med: $1,520,000 sqft: 2,328 low | high Med: 3,905 $ / sqft: $451 low | high Med: $389 On site: 125 low | high Med: 20 | |
 | $1,100,0001497 W 27thLos Angeles, CA 90007 |