Description
1984 Park Grove is located inside of the desirable USC Patrol Zone, where the university deploys a 24/7/365 security team for student safety. At list price, it is being offered at an attractive $192,115 price per unit and a 10.27 GRM and 5.71% cap rate on current rents, all while still having 45% rental upside for the next owner. Great sized units with some having beautifully exposed brick and unrestricted views of the Downtown LA skyline, and all units have full kitchens & bathrooms that are separate from the living areas. The units and building systems have undergone extensive capital improvements over the last 5 years. The property has an active and recently serviced fire sprinkler system for all units & levels + fire alarm system, and a burglar alarm system for secured entry and tenant safety. Large on-site laundry room for tenant convenience + additional monthly income. The bottom level has ADU conversion opportunities with in-place electrical & plumbing to convert into (3) ADU's which would turn the building into 29 units and add substantial monthly/annual income.
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9BEDS
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0.14ACRES
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0BATHS
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01/2 BATHS
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14,549SQFT
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$343$/SQFT
School Ratings & Info
Description
1984 Park Grove is located inside of the desirable USC Patrol Zone, where the university deploys a 24/7/365 security team for student safety. At list price, it is being offered at an attractive $192,115 price per unit and a 10.27 GRM and 5.71% cap rate on current rents, all while still having 45% rental upside for the next owner. Great sized units with some having beautifully exposed brick and unrestricted views of the Downtown LA skyline, and all units have full kitchens & bathrooms that are separate from the living areas. The units and building systems have undergone extensive capital improvements over the last 5 years. The property has an active and recently serviced fire sprinkler system for all units & levels + fire alarm system, and a burglar alarm system for secured entry and tenant safety. Large on-site laundry room for tenant convenience + additional monthly income. The bottom level has ADU conversion opportunities with in-place electrical & plumbing to convert into (3) ADU's which would turn the building into 29 units and add substantial monthly/annual income.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-12-05T10:29:20.113. 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 deemed reliable but is not guaranteed accurate by the MLS or Twiss Realty Group - Brokered by EXP. Licensed in the State of California, USA.