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$ 1,495,000
Est. payment | /mo
8 Beds
8 Baths
4,800 SqFt
$ 1,495,000
Est. payment | /mo
8 Beds
8 Baths
4,800 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,800 sqft
Price per Sqft $311
MLS Listing ID 25484011
Bedrooms 8
HOA Y/N No
Year Built 1924
Lot Size 5,632 Sqft
Property Description
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 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.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning (Q)R3-1-O-CPIO
Interior
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Side By Side
Pool None
Total Parking Spaces 8
Private Pool No
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5054013001
Special Listing Condition Standard
Listed by Oron Maher • Maher Commercial Realty