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The Dunes 1232 W 29th St 20 Unit Apartment Building $4,750,000 ($237,500/Unit) 5.81% Cap Rate Los Angeles, CA 90007
Investment Highlights
- Value-Add USC Student Housing Asset — 20 units / 27 bedrooms with multiple vacancies and below-market rents, offering immediate mark-to-market and ren
- Day-One Upside Through Vacant Units — Several vacant units allow new ownership to renovate, re-tenant, and reset rents
- Softstory Retrofit Has Been Completed
- Attractive Entry Basis vs. Recent Sales — Offered at ~$237K/unit, well below recent USC-area trades
- Abundant Onsite Parking Available for Students
Executive Summary
We are pleased to present The Dunes, a stabilized 20-unit / 27-bedroom student housing asset located in one of USC’s most established off-campus pockets. The property offers an incredible near-campus location, completed soft-story retrofit, and clear value-add potential through interior upgrades and student-focused repositioning.
Property Facts
| Price | $4,750,000 | Property Subtype | Apartment |
| Price Per Unit | $237,500 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.81% | Lot Size | 0.31 AC |
| Gross Rent Multiplier | 10.01 | Building Size | 12,753 SF |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Zoning | LAR3 | ||
| Price | $4,750,000 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| Cap Rate | 5.81% |
| Gross Rent Multiplier | 10.01 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 12,753 SF |
| No. Stories | 2 |
| Year Built | 1962 |
| Zoning | LAR3 |
Amenities
Unit Amenities
- Kitchen
- Range
- Tub/Shower
- Carpet
- Grill
Site Amenities
- Grill
- Recycling
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 20 | - | - |
1 1
Walk Score®
Walker's Paradise (91)
Transit Score®
Excellent Transit (70)
Bike Score®
Biker's Paradise (93)
Property Taxes
| Parcel Number | 5055-030-015 | Improvements Assessment | $541,106 |
| Land Assessment | $541,106 | Total Assessment | $1,082,212 |
Property Taxes
Parcel Number
5055-030-015
Land Assessment
$541,106
Improvements Assessment
$541,106
Total Assessment
$1,082,212
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The Dunes | 1232 W 29th St
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