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1143 W 28th St 8 Unit Apartment Building Offered at $2,598,000 at a 7.80% Cap Rate Los Angeles, CA 90007
Investment Highlights
- Prime USC Student Housing Investment
- Six Units Delivered Vacant at Close of Escrow
- Eight Spacious 2 Bedroom, 1.5 Bath Units
- Located Within the USC DPS Patrol Zone
- Immediate Lease Up & Cash Flow Opportunity
- Strong Rental Upside Potential
Executive Summary
The Stiegler | Takahashi Group is proud to present 1143 W. 28th Street, an exceptional 8 unit student housing investment opportunity located just blocks from the University of Southern California (USC) campus within the highly desirable USC Department of Public Safety (DPS) Patrol Zone. Built in 1959, the property consists of eight spacious 2 bedroom, 1.5 bath apartment units totaling approximately 5,330 square feet on an 8,483 square foot lot. A rare feature of this offering is that six of the eight units will be delivered vacant at the close of escrow, providing a new owner with the unique ability to immediately lease the majority of the property at current market rents and significantly increase cash flow. The spacious floor plans are ideally suited for USC students, graduate students, and young professionals, while the property’s premier location provides a solid foundation for strong rental demand, long term income growth, and appreciation. 1143 W. 28th Street offers investors a rare combination of immediate rental upside, exceptional value add potential, and long term appreciation in one of Southern California’s premier student housing markets.
Property Facts
| Price | $2,598,000 | Property Type | Multifamily |
| Price Per Unit | $324,750 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 5,330 SF |
| Cap Rate | 7.80% | No. Stories | 2 |
| Gross Rent Multiplier | 8.88 | Year Built | 1959 |
| No. Units | 8 | ||
| Zoning | LARD1.5 | ||
| Price | $2,598,000 |
| Price Per Unit | $324,750 |
| Sale Type | Investment |
| Cap Rate | 7.80% |
| Gross Rent Multiplier | 8.88 |
| No. Units | 8 |
| Property Type | Multifamily |
| Lot Size | 0.19 AC |
| Building Size | 5,330 SF |
| No. Stories | 2 |
| Year Built | 1959 |
| Zoning | LARD1.5 |
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Very walkable
80/100
Very drivable
80/100
Exceptional public transit
90/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 5055-027-021 | Improvements Assessment | $277,375 |
| Land Assessment | $346,722 | Total Assessment | $624,097 |
Property Taxes
Parcel Number
5055-027-021
Land Assessment
$346,722
Improvements Assessment
$277,375
Total Assessment
$624,097
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