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1540 W 28Th St Los Angeles, CA 90007

$1,475,000 Sold Price as of 10/15/2019

12 Beds
6 Baths
3,905 Sq.Ft.

Sold

$1,475,000 Sold Price as of 10/15/2019 Refinance Your Mortgage

Map preview of 1540 W 28Th St, Los Angeles, CA 90007

Property Overview: 1540 W 28Th St Los Angeles, CA has 12 bedrooms, 6 bathrooms, 3,905 living square feet and 6,804 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: EXCELLENT INVESTMENT OPPORTUNITY!! USC STUDENT HOUSING!High cash-flowing USC Student housing property! 3 of the 4 units are leased to students that pay market rate student rents!Two buildings on the property. Front house contains a large 5 Bedroom / 3 Bathroom unit and a 2 Bedroom / 1 Bathroom unit. The second building contains a 3 Bedroom / 1 Bathroom unit and a 2 Bedroom / 1 Bathroom unit. Property has ample room for on-site parking that can help generate extra income. Property is fully leased for the 2019-2020 School year. Units have been professionally managed and well maintained for the past several years. Make an offer fast, this opportunity will not last!DRIVE BY ONLY! DO NOT DISTURB TENANTS!

Listed by Michael R. Fukushima | BRE #01380445 | Keller Williams Downtown LA
Co-listed by Stephen F. Watson | BRE #01187813 | Keller Williams Downtown LA

Last checked: 6 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 18

Home details

Lot Sq. Ft: 6,804
HOA Dues: $0/mo
Year built: 1910
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 19495564
City: Los Angeles
County: Los Angeles
Time on Site: 1235 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 4
Total # of Buildings: 2

Unit Breakdown 1

# of Units: 1
# of Beds: 5
# of Baths: 3
Furnishing: Unfurnished
Actual Rent: $5,400
Total Rent: $64,800
Pro Forma/Market Rent: $64,800

Unit Breakdown 2

# of Units: 1
# of Beds: 3
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,600
Total Rent: $31,200
Pro Forma/Market Rent: $31,200

Unit Breakdown 3

# of Units: 2
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,372
Total Rent: $32,916
Pro Forma/Market Rent: $32,916

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 6.7%
Gross Rent Multiplier: 11.17
Gross Scheduled Income: --
Net Operating Income: $96,001
Gross Operating Income: $128,916
Improvements Total: $211,248

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 1540 W 28Th St

Interior Features

Kitchen Information

Has Appliances
Refrigerator

Lot Details / Garage and Parking

Parking/Garage Information

Has Parking
Parking Features: Driveway

Lot Information

Lot Size Source: Assessor

Property Information

Total # of Units: 4
Parcel Number: 5054034001

Location / Neighborhood

Location Information

Directions: From Downtown Los Angeles. Take 10 West and exit Vermont Ave. Head South on Vermont Ave and take right onto W 28th St. Property is at the corner of W 28th St and S Budlong Ave.

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Local Los Angeles Agent

Sale History for 1540 W 28Th St

Last sold for $1,475,000 on October 15th, 2019

December, 2020
Dec 16, 2020

Date

Canceled

CRMLS: SR20211594

$1,699,000

Price
Oct 13, 2020

Date

Active

CRMLS: SR20211594

$1,699,000

Price
Oct 8, 2020

Date

Coming Soon

CRMLS: SR20211594

$1,699,000

Price
Listing provided courtesy of CRMLS

A 4 UNIT PROPERTY. PREFECT FOR PROVIDING HOUSING FOR USC STUDENTS. THE FRONT HOUSE CONTAINS 5 BEDROOMS/4 BATHROOMS AND 2 BEDROOMS/1 BATHROOM. THE REAR PROPERTY CONTAINS TWO ADDITIONAL UNITS: 3 BEDROOMS/1 BATHROOM AND 2 BEDROOMS 1/BATHROOM. ONE OF THE UNITS HAS A LONG TERM TENANT, THE OTHERS ARE USC STUDENTS. THE BENEFIT OF HAVING STUDENTS AS TENANT POPULATION IS THAT RENTS ARE HIGHER AND THE RISK OF LONG TERM TENANCY IS MINIMIZED. THE PROPERTY HAS BEEN REMODELED QUITE NICELY. CURRENTLY ONE OF THE UNIT IS UNOCCUPIED WHICH ALLOWS THE NEW OWNER THE OPTION OF OCCUPYING THE UNIT OR TO ELECT A TENANT. (THIS UNIT MIGHT BE RENTED PRIOR TO SELLING). ALSO, THERE IS ON-SITE PARKING ACCESSED OFF OF BUDLONG AVE ALLOWING MINIMUM 4 PARKING SPACE. THE ZONING IS LARD2. PLEASE DO NOT DISTURB THE TENANTS.

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October, 2019
Oct 17, 2019

Date

Sold

CRMLS: 19495564

$1,475,000

Price
Aug 20, 2019

Date

Pending

CRMLS: 19495564

$1,440,000

Price
Aug 6, 2019

Date

Active

CRMLS: 19495564

$1,440,000

Price
October, 2019
Oct 11, 2019

Date

Sold (Public Records)

Public Records

$1,475,000

Price
June, 2014
Jun 27, 2014

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 1540 W 28Th St

Assessed Value (2020): $1,475,000

Year	Land Value	Improved Value	Assessed Value
2020	$1,000,000	$475,000	$1,475,000

Home Value Compared to the Market

This property vs the competition

1540 W 28Th St sold on October 15, 2019 for 21.01% 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 $368.76 per/sqft which puts the price per square foot 51.16% lower than the current median sale per square foot for the city of Los Angeles.

About 1540 W 28Th St

Detailed summary of property

1540 W 28Th St is a multi family that recently sold in Los Angeles, CA 90007. This multi family property offered 12 bedrooms, 6 bathrooms, roughly 3,905 living square feet, and sits on an approximately 6,804 square foot lot. 1540 W 28Th St was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $1,475,000. 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 21.01% higher than the current median priced home. Local homes that are currently for sale include 2012 S La Salle Ave, 1007 W 25th St and 1731 S New England St. While the average home in Los Angeles, CA is selling in 95 days, 1540 W 28Th St has a days on market of 18 days. There are currently 3751 homes for sale in the Los Angeles real estate market and 2535 of them are single family homes while 1119 of them are condos and 91 are townhomes. For more information on this home for sale at 1540 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 1540 W 28Th St

Public county record property details

Beds: 12
Baths: 6
Year built: 1910
Sq. Ft.: 3,905
Lot Size: 6,804
Stories: --

Type: Quadruplex (4 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 4-6
APN: 5054-034-001

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

$1,198,999

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.