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$ 1,550,000
Est. payment /mo
New
1325 W. 24th ST Los Angeles, CA 90007
5,902 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID GD26236143
HOA Y/N No
Year Built 2023
Lot Size 5,902 Sqft
Property Sub-Type Triplex
Property Description
We are pleased to present 1325–1327 W. 24th Street, a rare opportunity to acquire a 100% vacant, three-unit multifamily property located approximately one mile from the University of Southern California's University Park Campus.
One of the property's most compelling features is its 100% vacant delivery, providing investors with the exceptional opportunity to establish a new tenant base, implement a customized leasing strategy, and pursue current market rents without inheriting existing tenants or below-market leases.
The property consists of a newly constructed two-story front duplex completed in 2023, together with a renovated rear residential unit originally constructed circa 1922. The property offers approximately 2,738 square feet of building area on a 5,903-square-foot lot.
The residential configuration includes two four-bedroom/four-bathroom units and one three-bedroom/three-bathroom unit, providing a total of 11 bedrooms and 11 bathrooms. These multiple-bedroom layouts present an attractive opportunity for investors considering student-oriented rentals, traditional residential leasing, or other legally permissible rental arrangements.
At the asking price of $1,550,000, the property offers a projected 6.53% capitalization rate, based on estimated monthly rental income of $12,650, or $151,800 annually. The pro forma assumes rental income averaging $1,150 per bedroom per month, a 2% vacancy allowance, and estimated annual operating expenses of $47,480, resulting in projected Net Operating Income of $101,284. Situated in the established University Park neighborhood, the property benefits from its proximity to USC, Exposition Park, Downtown Los Angeles, public transportation, dining, shopping, and surrounding amenities. 1325–1327 W. 24th Street combines the advantages of 100% vacant delivery, substantial 2023 new construction, and a desirable USC-area location, offering investors the opportunity to establish a new rental operation in one of Los Angeles' prominent university-area housing markets.
One of the property's most compelling features is its 100% vacant delivery, providing investors with the exceptional opportunity to establish a new tenant base, implement a customized leasing strategy, and pursue current market rents without inheriting existing tenants or below-market leases.
The property consists of a newly constructed two-story front duplex completed in 2023, together with a renovated rear residential unit originally constructed circa 1922. The property offers approximately 2,738 square feet of building area on a 5,903-square-foot lot.
The residential configuration includes two four-bedroom/four-bathroom units and one three-bedroom/three-bathroom unit, providing a total of 11 bedrooms and 11 bathrooms. These multiple-bedroom layouts present an attractive opportunity for investors considering student-oriented rentals, traditional residential leasing, or other legally permissible rental arrangements.
At the asking price of $1,550,000, the property offers a projected 6.53% capitalization rate, based on estimated monthly rental income of $12,650, or $151,800 annually. The pro forma assumes rental income averaging $1,150 per bedroom per month, a 2% vacancy allowance, and estimated annual operating expenses of $47,480, resulting in projected Net Operating Income of $101,284. Situated in the established University Park neighborhood, the property benefits from its proximity to USC, Exposition Park, Downtown Los Angeles, public transportation, dining, shopping, and surrounding amenities. 1325–1327 W. 24th Street combines the advantages of 100% vacant delivery, substantial 2023 new construction, and a desirable USC-area location, offering investors the opportunity to establish a new rental operation in one of Los Angeles' prominent university-area housing markets.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Interior
Fireplace No
Laundry Inside
Exterior
Parking Features None
Pool None
Community Features Biking
Total Parking Spaces 3
Private Pool No
Building
Lot Description Rectangular Lot, Street Level
Story 2
Entry Level One,Two
Sewer Public Sewer
Water Public
Level or Stories One, Two
New Construction No
Others
Senior Community No
Tax ID 5055002006
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Kirk Garabedian Keller Williams R. E. Services 818-298-8810, DRE #01216376
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