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1475 W 28th St, Los Angeles, CA 90007
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1475 W 28th St Los Angeles, CA 90007

$1,295,000
  • 8 Beds
  • 5 Baths
  • 2,597 Sq.Ft.
For Sale
$1,295,000 Get Pre-Qualified
Map preview of 1475 W 28th St, Los Angeles, CA 90007

Property Overview: 1475 W 28th St Los Angeles, CA has 8 bedrooms, 5 bathrooms, 2,597 living square feet and 7,432 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are pleased to present the opportunity to acquire 1475 W. 28th Street, a three (3) unit, eight (8) bedroom student housing investment, located in the prestigious DPS Patrol Zone, and just blocks to the University of Southern California (USC). This single-story building was constructed of wood frame and stucco on a raised foundation, featuring a total square footage of 2,597 SF. The expansive 7,430 SF lot allows an investor to add significant value to the property by demolishing the two detached back units, and constructing two (2) ADU's, each consisting of 4-bedrooms + 4-bathrooms (8-bedrooms + 8 bathrooms). Fully constructed, there will be a total of 3 units, with a total of 13-bedrooms + 11-bathrooms. Current income is $8,725/month Finalized constructed units will have a scheduled income of approximately $18,500/month. The front single-family residence consists of 5-bedrooms + 3-bathrooms, with a total income of $6,500/month. The two detached units towards the back of the lot consists of a 1-bedroom + 1-bathroom unit ($975/month) & a 2-bedroom + 1-bathroom unit ($1,250/month).

Listed by Davis Saadian | BRE #01921748 | Carolwood Estates
Last checked: 2 minutes ago | Last updated: June 24th, 2024 | Source CRMLS | DOM: 7
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Home details

Lot Sq. Ft
7,432
HOA Dues
$0/mo
Year built
1922
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24407377
City
Los Angeles
County
Los Angeles
Time on Site
7 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 3
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 5
  • # of Baths: 3
  • Furnishing: Unfurnished
  • Actual Rent: $6,500
  • Total Rent: $6,500
  • Pro Forma/Market Rent: $7,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $975
  • Total Rent: $975
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,250
  • Total Rent: $1,250
  • Pro Forma/Market Rent: $2,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.5%
  • Gross Rent Multiplier: 12.3
  • Gross Scheduled Income: --
  • Net Operating Income: $83,402
  • Gross Operating Income: $104,700
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 1475 W 28th St

Interior Features
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Levels: One
Exterior Features
Exterior Information
  • Other Structures: Shed(s)
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Private, Uncovered
Property Information
  • Total # of Units: 3
  • Parcel Number: 5054031019
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: 1475 W. 28th Street | Los Angeles 90007
View more facts & features

Local Los Angeles Agent

Sale History for 1475 W 28th St

Last sold for $1,000,000 on August 15th, 2022

  • June, 2024

  • Jun 24, 2024

    Date

    Active

    CRMLS: 24407377

    $1,295,000

    Price

  • June, 2024

  • Jun 21, 2024

    Date

    Canceled

    CRMLS: 24399165

    $1,375,000

    Price

  • Jun 3, 2024

    Date

    Active

    CRMLS: 24399165

    $1,375,000

    Price

  • Listing provided courtesy of CRMLS

    PLEASE DO NOT CALL SELLER. SELLER IS REGISTERED ON THE "DO NOT CALL LIST". ANY VIOLATIONS ARE SUBJECT TO FINES. We are pleased to present the opportunity to acquire 1475 W. 28th Street, a three (3) unit, eight (8) bedroom student housing investment, located in the prestigious DPS Patrol Zone, and just blocks to the University of Southern California (USC). This single-story building was constructed of wood frame and stucco on a raised foundation, featuring a total square footage of 2,597 SF on a 7,430 SF lot. The expansive lot size allows an investor to add significant value to the property by constructing two (2) 5-bedroom + 4-bathroom ADU's to further increase cash-flow, generating an even higher yield/ net income. The asset is fully occupied, and the total gross income is $8,725/month.

  • August, 2022

  • Aug 15, 2022

    Date

    Sold

    CRMLS: 22167677

    $1,000,000

    Price

  • Jun 14, 2022

    Date

    Active

    CRMLS: 22167677

    $1,075,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to offer the opportunity to acquire this three (3) unit, six (6) bedroom + four (4) bathroom value-add student housing investment, located in the DPS Patrol Zone and walking distance to the University of Southern California (USC). The property is approximately 2,597 rentable square feet on a 7,430 square foot lot, with a unit mix consisting of one (1) vacant 3-bedroom + 2-bathroom unit, one (1) 2-bedroom + 1-bathroom unit, and one (1) 1-bedroom + 1-bathroom unit. The vacant unit allows an investor the opportunity to implement interior renovations, update/remodel the unit, rent to USC students, and achieve market rents. The other two units are currently not leased to students, and there's over 50% potential upside in rental income. To further increase cash flow, the lot size allows an investor the opportunity to construct an Accessory Dwelling unit (ADU). The property offers residents a highly desirable location, within the DPS Patrol Zone, and walking distance to campus and University Village - providing easy access to all of USC's landmarks, academic buildings, and entertainment options.

  • January, 2022

  • Jan 29, 2022

    Date

    Pending

    CRMLS: DW21068556

    $908,900

    Price

  • Aug 31, 2021

    Date

    Price Change

    CRMLS: DW21068556

    $908,900

    Price

  • Aug 9, 2021

    Date

    Price Change

    CRMLS: DW21068556

    $919,000

    Price

  • May 12, 2021

    Date

    Price Change

    CRMLS: DW21068556

    $935,000

    Price

  • Apr 6, 2021

    Date

    Active

    CRMLS: DW21068556

    $999,990

    Price

  • Listing provided courtesy of CRMLS

    THREE UNITS INVESTMENT OPPORTUNITY!!!!!!! Front house is 3 bedroom 2 bathroom, unit attached is 1 bedroom 1 bathroom, in rear is a unit 2 bedroom 1 bathroom. All 3 units will be delivered fully occupied, located within walking distance to University of Souther California (USC) and is just minutes from the Freeway 10, 110, 5., many popular attractions, go to places such as Down town Los Angeles, Korea town, Japanese town.

  • April, 1999

  • Apr 12, 1999

    Date

    Sold (Public Records)

    Public Records

    $215,000

    Price

  • April, 1999

  • Apr 12, 1999

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 1475 W 28th St

Assessed Value (2020): $311,047
Year Land Value Improved Value Assessed Value
2020 $193,512 $117,535 $311,047

Home Value Compared to the Market

This property vs the competition

1475 W 28th St is listed 4.77% higher than the median list price for the city of Los Angeles which has a median list price of $1,236,000. The median price per/sqft for Los Angeles is $775 and this home is listed at $498.65 per/sqft which puts the price per square foot 35.66% lower than the median price per square foot for the city of Los Angeles.

About 1475 W 28th St

Detailed summary of property

1475 W 28th St is a multi family located in Los Angeles, CA 90007 and is currently for sale. This multi family property offers 8 bedrooms, 5 bathrooms, roughly 2,597 living square feet, and sits on an approximately 7,432 square foot lot. 1475 W 28th St was first listed on ArdentRealEstateGroup.com on June 24, 2024. The homeowner is currently asking $1,295,000. The median priced home in Los Angeles is $1,236,000 with a median price per square foot of $775. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 4.77% higher than the median priced home. Local competing homes currently for sale include 1256 W 22nd St, 1275 W 37th Dr and 1492 W 35th Pl. While the average home in Los Angeles, CA is selling in 99 days, 1475 W 28th St has a days on market of 7 days. There are currently 3982 homes for sale in the Los Angeles real estate market and 2673 of them are single family homes while 1195 of them are condos and 107 are townhomes. For more information on this home for sale at 1475 W 28th St Los Angeles, CA 90007 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1475 W 28th St

Public county record property details
Beds
2
Baths
1
Year built
1922
Sq. Ft.
2,597
Lot Size
7,429
Stories
--
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
5054-031-019

The source for these homes facts are from public records.

90007 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,380,000
Median List Price/Sq.Ft.
$501
Median Sold Price
$525,000
Median Sold Price/Sq.Ft.
$589
Total Inventory
13
Median Sale to List Price %
102.94%
Avg Days on Market
55
Loan Type
Conventional (50%), FHA (0%), VA (0%), Cash (50%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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