Listed by Davis Saadian, Compass,

1151 W 29th Street

Los Angeles, CA, 90007

$28,500,000

$7,761 per ft²
$28,500,000
$7,761 per ft²
Sold
Sold
beds
9 Beds
baths
4 Baths
carpenters-square
3,672 ft²
property_type
Multi-family
calendar
Built 1927
We are pleased to present the opportunity to acquire The 29TH Street Portfolio, an eleven (11) building, 110-Bedroom, Student Housing Portfolio, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC).Consisting of 11 separate structures, The 29TH Street Portfolio provides investors the opportunity to acquire a sizable presence in one of the most desirable infill student housing markets in the United States. Additionally, while the properties have been well maintained under current ownership, they are well suited for common area upgrades and interior unit remodeling/ updates that will further increase cashflow and returns. 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 2022-2023 year perfectly positioned to benefit from the enrollment growth in an under-supplied student housing market. The following properties are being sold together as a portfolio sale: 1137 W. 29th Street, LA 90007, 1151 W. 29th Street, LA 90007, 1159 W. 29th Street, LA 90007, 1173 W. 29th Street, LA 90007, 1179 W. 29th Street, LA 90007, 1329 W. 29th Street, LA 90007, 2830 Menlo Ave, LA 90007, 1358 W. 29th Street, LA 90007, 1360 W. 29th Street, LA 90007, 1535 W. 30th Street, LA 90007, 1481 W. 25th Street, LA 90007.
MLS® ID:
22178303
Listed:
7/12/22
Updated:
12/2/22

Interior Features

Kitchen Appliances
Disposal, Refrigerator
Total Bedrooms
9
Total Bathrooms
4

Exterior/Building Features

Lot Size
7,256 ft² lot

Other Property Details

Area Name
C16 - Mid Los Angeles
Garage
No
Parking
N
View
N
County
Los Angeles
Pool
No
Zoning
LARD1.5

Property History

Date
Event
Price
Value
11/18/22
Sold
-
-
11/18/22
Price Change
$28,500,000
-3%
10/24/22
Pending
-
-

Courtesy of Compass, Davis Saadian,
Listing Contact:  

Based on information from California Regional Multiple Listing Service, Inc. as of 12/2/22. 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.

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