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$ 3,750,000
Est. payment | /mo
13 Beds
16 Baths
9,478 SqFt
$ 3,750,000
Est. payment | /mo
13 Beds
16 Baths
9,478 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,478 sqft
Price per Sqft $395
MLS Listing ID 25495795
Bedrooms 13
HOA Y/N No
Year Built 1963
Lot Size 7,244 Sqft
Property Description
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS. We are pleased to offer for sale a 16-unit (14 + 2 ADU) apartment community located at 1024 W. 24th Street. The subject property is located north of Adams Boulevard and east of Hoover Street, within the USC Patrol Zone. The property is within walking distance of popular cafes, restaurants, and entertainment venues, as well as minutes from the University of Southern California (USC), the Coliseum, and Exposition Park. Its central location provides residents with convenient access to major employment hubs in Downtown Los Angeles, and beyond, supported by nearby public transit options and proximity to the I-10 and I-110 Freeways. Situated on a 10,542-square-foot parcel, the property features one studio, five bachelors, seven one-bedroom units, and three two-bedroom units. The unit-mix consists of two recently added ADUs. 56% of the units have been turned and renovated over the last 18 months, providing, a proven interior renovation strategy to capture USC students. 1024 W. 24th Street presents investors with a rare opportunity to acquire a mid-sized, value-add property close to the USC campus. A new investor can continue to operate as student housing or convert to Section 8 rentals as leases expire, which offers $200+ rent premiums.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LARD1.5
Interior
Fireplace No
Exterior
Parking Features None
Total Parking Spaces 11
Building
Story 3
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5124008018
Special Listing Condition Standard
Listed by Sean Rosenzweig • Marcus & Millichap
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Mitch Stein
Partner | Lic# DRE# 02081632