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1026 24th Street
Los Angeles, CA 90007
We are pleased to present a four (4) unit plus one (1) non-conforming unit apartment building located at 1026 W 24th Street in Los Angeles, California. The subject property is located in an ideal University Park location, north of W Jefferson Boulevard and east of S Hoover Street. University Park is known for its historic culture, rich amenities, and hosting the renowned University of Southern California. The University Park market is a rapidly changing housing market, exhibiting itself as one of the strongest rental residential markets in the city of Los Angeles. The University of Southern California, currently enrolling more than 45,000 undergraduate, graduate, and professional students, is one of the most prestigious universities in the country. Roughly 70% of USC students live off-campus, and with enrollment comprised of more graduate and professional students than undergraduate students, the demand for off campus housing near the school is continually strong. Rent growth in the area is propelled by the short-term nature of a college students tenure. There is no shortage of nearby amenities within walking distance, including popular restaurants such as Bacaro LA, The Fields, and Caveman Kitchen. Today, the University Park neighborhood contains an outstanding array of museums, galleries, theaters, sport venues, gardens, libraries, and churches. With its rich mixture of education, entertainment, art, and culture, the past and the future, the University Park neighborhood offers exciting discoveries for people all ages. Built in 1940, this property consists of a great unit mix of two (1) studio / one-bathroom units, one (1) two-bedroom / one-bathroom unit with an attached non conforming unit / one-bathroom space attached (potential to add as another permitted unit), and two (2) three-bedroom / two-bedroom units. Two (2) units will be delivered vacant. Select units have also been recently renovated and are leased partially furnished. Gas and Electric are separately metered and there have been recents updates to the plumbing, water heaters, paint and landscaping. This charming mid century asset has plenty of on-site parking in the rear with enough space to potentially build additional ADU unit(s). Tenants will love being within close proximity of many trendy restaurants, nightlife, and entertainment options such as The Velaslavasay Panoama, Nature's Brew by Bacari, Hoover Recreation Center, Everytable, Planet Fitness, Shrine Auditorium and Expo Hall, and USC DPS patrol area. Being less than a mile away from the campus of USC, student tenants will have an easy and convenient commute.Positioned in an ideal University Park location that is DPS patrolled, this offering presents an exceptional opportunity for an investor to capitalize on a student housing asset that qualifies for 30-year fixed residential financing with good opportunities to add at least one (1) ADU.
PROPERTY INFORMATION
| MLS # | 24438075 | Lot Size | 7,245 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,650,000
Price Per SqFt: $ 578 |
DOM | 237 Days |
| Address | 1026 24th Street | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 2,854 Sq. Ft. |
| Postal Code | 90007 | Garage | N/A |
| County | Los Angeles | Year Built | 1940 |
| Bed / Bath | 5 / 0 | Parking | 5 |
| Built In | 1940 | Status | Active |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Washer Included, Dryer Included |
| Has Fireplace | Yes |
| Fireplace Information | Primary Bedroom |
| Has Appliances | Yes |
| Kitchen Appliances | Disposal, Refrigerator, Oven, Microwave, Gas Cooktop |
| Has Heating | No |
| Heating Information | None |
| Flooring Information | Wood |
| EntryLocation | Ground Level w/steps |
| Has Spa | No |
| SpaDescription | None |
| WindowFeatures | Bay Window(s) |
| SecuritySafety | Smoke Detector(s), Fire and Smoke Detection System |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
| Has Sprinklers | No |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,760
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 09/10/2024 | Listed | $1,650,000 |
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Listing provided courtesy of Jason Tuvia, Marcus & Millichap. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
