Property
Beds
16
Full Baths
14
1/2 Baths
None
Year Built
1903
Sq.Footage
1,557
Price Reduced $175K! Welcome to 1492 W. 28th St, a premier investment & development opportunity located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). This property is being offered with RTI (Ready-To-Issue) permits to build a brand-new 11-bedroom / 11-bathroom duplex in the rear, creating a rare opportunity to purchase and develop a prime student housing asset while generating rental income during construction(Projected 9.02% Cap Rate Post Completion). The existing 5-bedroom / 3-bathroom front house has been completely renovated with modern finishes and updated systems, and is currently leased at $6,000/month. Upon completion of the rear development, the property will total 16 bedrooms and 14 bathrooms, perfectly suited for student housing, co-living, or traditional rentals in one of LA's strongest rental markets. The approved plans feature large, well-designed bedrooms, each with its own ensuite bathroom, making the units significantly easier to lease and ideal for maximizing rent potential. With RTI permits already secured, investors and developers can bypass the time-consuming entitlement process and break ground immediately. Located within close proximity to USC, Exposition Park, Downtown LA, and Metro lines, the property benefits from constant demand and excellent rental comps. This is a rare opportunity to acquire a turnkey property with substantial cash flow and long-term value-add potential. Nearby attractions include USC Village, Trader Joe's, City Target, and a wide variety of popular restaurants and local amenities that make this location highly desirable for tenants. Contact listing agent for more details! *Projections are based on an estimated construction cost of $225 per square foot, providing a realistic outlook for future development potential.
Features & Amenities
Interior
-
Total Bedrooms
16
-
Bathrooms
14
-
Cooling YN
YES
-
Cooling
Central Air
-
Fireplace YN
YES
-
Heating YN
YES
-
Heating
Central
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Parking
Garage
-
Pool
Yes
-
Pool Features
None
-
View
None
Area & Lot
-
Lot Size(acres)
0.1708
-
Property Type
Residential
-
Property Sub Type
Single Family Residence
-
Architectural Style
SeeRemarks
Price
-
Sales Price
$1,275,000
-
Sq. Footage
1, 557
-
Price/SqFt
$818
HOA
-
Association
NO
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
2
-
Senior Community YN
NO
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Location
County
Los Angeles
Elementary School
Middle School
High School
Listing Courtesy of Adam Shamooelian , Keller Williams Beverly Hills
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