Courtesy of: Kirk Garabedian, Keller Williams R. E. Services, kirkg@kw.com
Courtesy of: Kirk Garabedian, Keller Williams R. E. Services, kirkg@kw.com
$1,550,000
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11 bed
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11.00 Bath (11 Full)
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Lot: 0.14 Acres
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Triplex
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$1,550,000
1325-W. 24th Street 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.
Courtesy of: Kirk Garabedian, Keller Williams R. E. Services, kirkg@kw.com
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