We are pleased to present the opportunity to acquire 1477 W. 29th Street, a fully renovated duplex student housing investment located in the highly coveted West of Campus neighborhood within the USC DPS Patrol Zone. Situated just blocks from the University of Southern California, the property benefits from one of… Read More the strongest student housing rental markets in Los Angeles, consistently achieving premium rents, full occupancy, and strong year-round tenant demand. The property is currently 100% occupied by USC students and fully leased, generating approximately $7,500 per month. With a proven operational history, parental guarantees, and strong in-place cash flow, the asset offers investors immediate yield and stable income from day one. The property consists of a beautifully upgraded 6-bedroom + 3-bathroom craftsman single family residence originally built in 1907, along with a detached studio ADU, totaling approximately 2,328 rentable square feet situated on a 5,626 square foot lot. Both units have undergone extensive renovations featuring modern, high-end finishes throughout, including hardwood flooring, updated countertops, stainless steel appliances, tile showers with glass enclosures, in-unit washer and dryers, furnished bedrooms, updated kitchens and bathrooms, recessed lighting, and contemporary fixtures. The property also features gated access, and a large outdoor area, all highly desirable amenities for the USC student demographic. Operationally, the asset is highly efficient, with tenants responsible for all utilities; gas, water, trash and electricity, helping minimize landlord expenses and maximize net operating income. Offered at approximately a 6.5% cap rate and 12x GRM, the asset represents a rare plug-and-play investment opportunity combining strong in-place cash flow, and long-term appreciation potential in one of Los Angeles' most resilient and supply-constrained rental submarkets. Read Less
Property listed by Keller Williams Hollywood Hills, Davis Saadian 310-623-1300
Listing Snapshot
Days Online
30
Last Updated
Beds
7
Square Ft.
2,328
Lot Size
0.13 Acres
Year Built
1907
MLS Number
26833429
Additional Details
Appliances & Equipment
Microwave, Refrigerator, Dryer, Washer
Building
Built in 1907, Living area: 2328.0, 2 buildings, 2 stories, Levels: Two
Heating
Central
Income
Gross Income: $89,700, Net Operating Income: $71,268
Interior Features
CeilingFans
Laundry
Inside
Lot
0.1292 acres, Dimensions: 45x125
Parking
Gated
Property
UpdatedRemodeled
Taxes
Parcel Number: 5054034014, Zoning: LAR2
Tenant Pays
Electricity, Gas, TrashCollection, Water
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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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