Located just blocks from the University of Southern California (USC) and within the USC Patrol Zone, this 8-unit property presents a unique opportunity for investors and developers. Comprising all junior 1-bedroom units, the layout features a hallway connecting the living room, bathroom, and kitchen in each unit. Currently, two of… Read More the units are vacant, while the remaining tenants are long-term. Some tenants have expressed an interest in negotiating cash-for-keys, helping bolster future upside potential. The property sits on a 5,609 square foot lot with 8 side-by-side parking spaces, providing additional upside potential by charging for parking. The lot is zoned (Q)R3-1-O-CPIO and falls under the TOC Tier 3 designation, enabling the development of up to 12 four-bedroom units that can be leased per bed to students, capitalizing on the high demand from USC's student population. This property offers an estimated rental income upside of approximately 45%, making it an attractive opportunity for both immediate rental income and future development. The property is not located within an HPOZ zone, further simplifying any redevelopment plans.With its prime location near USC and its zoning potential, this fixer-upper provides both immediate cash flow and long-term value growth. Read Less
Property listed by Maher Commercial Realty, Oron Maher 310-464-1453
Listing Snapshot
Days Online
1
Last Updated
Property Type
Other
Beds
8
Square Ft.
4,800
Lot Size
0.13 Acres
Year Built
1924
MLS Number
25484011
30 Days Snapshot Of 90007
$1,055k
0%
(avg) sold price
0
-100%
homes sold
77
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1924, Building area total: 4,800, Levels: Two, Living area: 4800, 2 stories, 1 building
Income
Gross income: $9,393, Net operating income: $86,719
Lot
0.1293 acres, 5,632 square feet, Size: 5,632
Parking
8 totals parking, SideBySide
Pool
None
Property
Zoning: (Q)R3-1-O-CPIO
Spa
None
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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