New Listing
716 W 30th Street,Los Angeles, CA 90007
Los Angeles, CA 90007
Description
We are pleased to offer for sale 716 West 30th Street, a six-unit, 15-bed premier student housing community located in North University Park, north of Jefferson Boulevard between Figueroa Street and Hoover Street.Built in 1907, the property comprises three buildings totaling 5,615 square feet on a 6,762-square-foot parcel, with two one-bedroom standalone cottages, three three-bedroom units, and one four-bedroom unit. Current ownership has invested more than $500,000 since 2016 in renovated kitchens and bathrooms, new flooring, plumbing and electrical upgrades, seismic strengthening, and exterior improvements. The existing two-car garage also offers potential for accessory dwelling unit conversion (buyer to verify). The offering delivers strong in-place yield at a 6.96% cap rate and a 9.46 gross rent multiplier on current school-year income. Its basis of $176,667 per bed and $472 per square foot sits below the average of recent comparable sales in the surrounding submarket.The property is two blocks north of USC's campus, and University Village, the university's retail and dining hub, is two blocks from the property, west along 30th Street. The address carries a Walk Score of 93.USC enrolls roughly 46,000 students, and 65% of its sophomores, juniors, and seniors live in off-campus housing, non-university-owned housing. Over 90% of graduate and family students live in off-campus housing, according to USC Housing. That pool renews every one to three school years, so demand for housing this close to campus stays deep and consistent.Jefferson/USC Station on the Metro E Line is about a third of a mile away, the 110 Freeway about a quarter mile east, and Downtown Los Angeles about two miles northeast. 716 West 30th Street offers investors an opportunity to acquire a renovated, well-maintained student housing asset in North University Park, one of USC's prime and most desirable off-campus housing locations.PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Details
| MLS # | 26991397 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1907 |
| Days On Site | 6 |
| Listing Provided By | Marcus & Millichap | Sean Rosenzweig |
Features
| Bed(s) | 15 |
|---|---|
| Bath(s) | 6 |
| SQ Feet | 5,615 |
| Story(s) | 2 |
| Units | 6 |
| Building(s) | 3 |
| Zoning | LAR3 |
| Acreage | 0.16 |
Parking
| Parking Features | Door Multi, Garage |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90007 |
| Area | C42 Downtown L.A. |
| Listing VS Median (in 90007) | |
Price: $2,650,000 low | high Med: $499,000 sqft: 5,615 low | high Med: 1,341 $ / sqft: $472 low | high Med: $372 On site: 6 low | high Med: 136 | |
Market Activity 90007
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90007 |
| Area | C42 Downtown L.A. |
| Listing VS Median (in 90007) | |
Price: $2,650,000 low | high Med: $499,000 sqft: 5,615 low | high Med: 1,341 $ / sqft: $472 low | high Med: $372 On site: 6 low | high Med: 136 | |
 | $2,449,0001143 W 28thLos Angeles, CA 90007 |