1477 W 29th ST, Los Angeles, CA 90007
1477 W 29th ST, Los Angeles, CA 90007
1477 W 29th ST, Los Angeles, CA 90007
28
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$1,050,000
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7 Beds
4 Baths
2,328 SqFt
Price Dropped by $45K

1477 W 29th ST Los Angeles, CA 90007

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Chrystal And David Schoenbrun

Chrystal And David Schoenbrun

+1(805) 404-6510

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 2,328 sqft

Price per Sqft $451

MLS Listing ID 26833429

Bedrooms 7

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1907

Lot Size 5,627 Sqft

Property 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.

Location

State CA

County Los Angeles

Area C16 - Mid Los Angeles

Zoning LAR2

Interior

Interior Features Ceiling Fan(s)

Heating Central

Fireplace No

Appliance Microwave, Refrigerator, Dryer, Washer

Laundry Inside

Exterior

Parking Features Gated

Building

Story 2

Entry Level Two

Architectural Style Craftsman

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 5054034014

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Davis Saadian Keller Williams Hollywood Hills #01921748

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Chrystal And David Schoenbrun

Chrystal And David Schoenbrun

Realtor/Broker Associate | License ID: 01409474 & 01761327

+1(805) 404-6510

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1477 W 29th ST