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1481 W 25Th St Los Angeles, CA 90007

$1,050,000 Sold Price as of 11/18/2022

6 Beds
2 Baths
2,031 Sq.Ft.

Sold

$1,050,000 Sold Price as of 11/18/2022 Refinance Your Mortgage

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Map preview of 1481 W 25Th St, Los Angeles, CA 90007

Property Overview: 1481 W 25Th St Los Angeles, CA has 6 bedrooms, 2 bathrooms, 2,031 living square feet and 6,776 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present the opportunity to acquire The 29TH Street Portfolio, an eleven (11) building, 110-Bedroom, Student Housing Portfolio, walking distance to the University of Southern California (USC). Consisting of 11 separate structures, The 29TH Street Portfolio provides investors the opportunity to acquire a sizable presence in one of the most desirable infill student housing markets in the United States. Additionally, while the properties have been well maintained under current ownership, they are well suited for common area upgrades and interior unit remodeling/ updates that will further increase cashflow and returns. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The investment is 100% occupied with USC students, and fully leased for the 2022-2023 year perfectly positioned to benefit from the enrollment growth in an under-supplied student housing market. The following properties are being sold together as a portfolio sale: 1137 W. 29th Street, LA 90007, 1151 W. 29th Street, LA 90007, 1159 W. 29th Street, LA 90007, 1173 W. 29th Street, LA 90007, 1179 W. 29th Street, LA 90007, 1329 W. 29th Street, LA 90007, 2830 Menlo Ave, LA 90007, 1358 W. 29th Street, LA 90007, 1360 W. 29th Street, LA 90007, 1535 W. 30th Street, LA 90007, 1481 W. 25th Street, LA 90007.

Listed by Davis Saadian | BRE #01921748 | Compass

Last checked: 14 minutes ago | Last updated: December 18th, 2023 | Source CRMLS | DOM: 103

Home details

Lot Sq. Ft: 6,776
HOA Dues: $0/mo
Year built: 1922
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 22178407
City: Los Angeles
County: Los Angeles
Time on Site: 662 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 2
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 3
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,622
Total Rent: $2,622
Pro Forma/Market Rent: $3,000

Unit Breakdown 2

# of Units: 1
# of Beds: 3
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,026
Total Rent: $2,026
Pro Forma/Market Rent: $3,000

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 14
Gross Scheduled Income: --
Net Operating Income: $41,832
Gross Operating Income: $55,776

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 1481 W 25Th St

Lot Details / Garage and Parking

Parking/Garage Information

Has Parking

Property Information

Total # of Units: 2
Parcel Number: 5054026018

Homeowners Association, Utilities, Taxes / Assessments

Homeowners Association

Is Not Part of Association

Location / Neighborhood

Location Information

Directions: 11 total properties Adjacent to USC and North of the Campus & Village

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Local Los Angeles Agent

Sale History for 1481 W 25Th St

Last sold for $1,050,000 on November 18th, 2022

December, 2023
Dec 18, 2023

Date

Canceled

CRMLS: 23292391

$1,950,000

Price
Jul 20, 2023

Date

Active

CRMLS: 23292391

$1,890,000

Price
Listing provided courtesy of CRMLS

We are pleased to offer the opportunity to acquire this three (3) unit, 11 bedroom + 6.5 bathroom Student Housing investment opportunity, located in the highly desirable DPS Patrol Zone, and close proximity to the University of Southern California (USC). The subject property was expertly designed, remodeled, and constructed by the one of the top student housing operators near USC, renowned for their track record of delivering best-in-class off-campus housing and providing tenants with an unparalleled housing experience. The property is approximately 3,231 rentable square feet on a 6,776 square foot lot. The property has two (2) separate structures, with a unit mix of a two (2) 3 bedroom units in the front with an additional brand new construction 5 bedroom + 4 bathroom ADU in the rear. The subject property's front structure is currently being rented out to students at below market rent, giving any prospective buyer the opportunity to significantly increase the properties overall rental income when the units are turned over. The back unit is a brand-new ADU recently constructed and completed in 2023 and features quartz counter-tops, stainless steel kitchen appliances, tiled showers with glass enclosures, and new in-unit washer & dryers, delivering a brand new low maintenance structure to any prospective buyer. The investment is 100% occupied with USC students and fully leased for the 2023-2024 academic school year. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. Tenants pay for all utilities of the property including Water/Gas/Electric/Trash.

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November, 2022
Nov 18, 2022

Date

Sold

CRMLS: 22178407

$1,050,000

Price
Jul 13, 2022

Date

Active

CRMLS: 22178407

$1,400,000

Price
May, 2009
May 15, 2009

Date

Sold (Public Records)

Public Records

$300,000

Price

Tax History for 1481 W 25Th St

Assessed Value (2020): $403,907

Year	Land Value	Improved Value	Assessed Value
2020	$294,369	$109,538	$403,907

Home Value Compared to the Market

This property vs the competition

1481 W 25Th St sold on November 18, 2022 for 17.65% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $689.32 per/sqft which puts the price per square foot 8.7% lower than the current median sale per square foot for the city of Los Angeles.

About 1481 W 25Th St

Detailed summary of property

1481 W 25Th St is a multi family that recently sold in Los Angeles, CA 90007. This multi family property offered 6 bedrooms, 2 bathrooms, roughly 2,031 living square feet, and sits on an approximately 6,776 square foot lot. 1481 W 25Th St was first listed on ArdentRealEstateGroup.com on July 26, 2022. The homeowner sold the property for $1,050,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 17.65% higher than the current median priced home. Local homes that are currently for sale include 1940 S La Salle Ave, 2001 S Congress Ave and 2012 S La Salle Ave. While the average home in Los Angeles, CA is selling in 92 days, 1481 W 25Th St has a days on market of 103 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 1481 W 25Th 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 1481 W 25Th St

Public county record property details

Beds: 5
Baths: 3
Year built: 1922
Sq. Ft.: 2,031
Lot Size: 6,775
Stories: --

Type: Duplex (2 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 60
APN: 5054-026-018

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

$1,199,999

Median List Price/Sq.Ft.

$616

Median Sold Price

$710,000

Median Sold Price/Sq.Ft.

$645

Total Inventory

Median Sale to List Price %

94.79%

Avg Days on Market

Loan Type

Conventional (0%), FHA (0%), VA (0%), Cash (0%), 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.