We are pleased to present the opportunity to acquire 1293 W. 36th Street, an incredible redevelopment opportunity with full RTI Plans and Permits, located in the highly desirable DPS Patrol Zone, about 2 blocks to the University of Southern California (USC). The existing property currently consists of a total of… Read More five (5) bedrooms & four (4) bathrooms. The RTI plans have been approved to convert the existing Single-Family Residence to a spacious Duplex, consisting of a 4-bedroom + 3-bathroom unit & a 1-bedroom +1-bathroom unit. The plans are also approved to construct two (2) ADU's, each consisting of 4-bedrooms + 4-bathrooms. Fully constructed, there will be a total of 4 units, 13-bedrooms + 12-bathrooms. Current income is $5,900/month Finalized constructed units will have a scheduled income of approximately $20,000/month.The property features hardwood floors, stainless steel kitchen appliances, quartz counter tops,On-site laundry, and the tenants pay all utility expenses. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The investment is 100% occupied with USC students, and fully leased for the 2024-2025 school year. Read Less
Property listed by KW Advisors, Davis Saadian 310-482-2200
Listing Snapshot
Days Online
109
Last Updated
Property Type
Other
Beds
13
Square Ft.
1,467
Lot Size
0.12 Acres
Year Built
1903
MLS Number
24436853
30 Days Snapshot Of 90007
$883k
-13%
(avg) sold price
2
-33%
homes sold
72
+10%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator, Dryer, Washer
Building
Built in 1903, Building area total: 1,467, Levels: One, Living area: 1467, 1 story, 4 buildings
Income
Gross income: $234,000, Net operating income: $175,500
Lot
0.1217 acres, 5,302 square feet, Size: 5,302
Parking
5 totals parking, Private
Property
Zoning: LARD1.5
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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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