1238 W 35th St Los Angeles, CA 90007
Exposition Park NeighborhoodEstimated payment $13,584/month
Highlights
- No HOA
- Laundry Room
- Auto Driveway Gate
- Cooling System Mounted To A Wall/Window
- Central Heating and Cooling System
About This Home
The Best Location for Value-add USC off Campus Student Housing investment opportunity, only 2 Blocks away to University of Southern California (USC), located in highly Desirable USC DPS Safety Patrol Zone. 100% Fully occupied by USC students with parental guarantees on leases, and all rooms pre-leased for the upcoming 2025-2026 school year with USC students. Currently collecting gross rents of $15,050/month, cap rate around 7%, GRM12.17. Highly demanding...easy access to all USC's landmarks, academic buildings, and entertainment options. Zoning LARD1.5. The subject property is composed of two separate structures (1238 W. 35th St. and 3554-3556 S Budlong Ave) and consists of 3 spacious units, with a unit mix consisting of (1) 6-bedroom + 3-bathroom unit of total rent $7850/month, and (2) 3-bedroom + 1-bathroom units of total rent $7200/month. The property has been recently fully updated/ remodeled - featuring laminated/wood floors, Newly painted, Updated kitchen with stainless steel kitchen appliances, lots of updated cabinets, pantry and counter tops, copper plumbing throughout ( buyer verify). The investment boasts spacious floor plans, secured gated entry, and on-site laundry. The property is approximately 3450 s.f., 7094 s.f. lot, 12 bed, 5 bath, living rooms, and on-site laundry room...This property has charming turn of the century details that you will adore. As a bonus, this Property offers about 11 Private on-site Parking Spaces which the students loved so much, and 3 individually metered for gas and electricity and 2 individual water meters. The asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The property is collecting gross rents of $15,050/month. Don't miss!
Listing Agent
IRN Realty Brokerage Phone: 626-215-5788 License #01426061 Listed on: 03/06/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $23,144
Year Built
- Built in 1908
Lot Details
- 7,094 Sq Ft Lot
- 1 Common Wall
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 3,450 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 12 Bedrooms
- 5 Bathrooms
Laundry
- Laundry Room
- Dryer
- Washer
Parking
- 11 Open Parking Spaces
- 11 Parking Spaces
- Parking Available
- Private Parking
- Auto Driveway Gate
Utilities
- Cooling System Mounted To A Wall/Window
- Central Heating and Cooling System
- Septic Type Unknown
Listing and Financial Details
- Tax Lot 11
- Tax Tract Number 2226
- Assessor Parcel Number 5040018011
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 3 Units
Building Details
- Rent Control
- 3 Separate Electric Meters
- 3 Separate Gas Meters
- 2 Separate Water Meters
- Gardener Expense $360
- Insurance Expense $1,982
- Maintenance Expense $1,500
- New Taxes Expense $22,000
- Operating Expense $25,842
- Gross Income $180,600
- Net Operating Income $154,758
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $23,144 | $1,917,249 | $1,248,480 | $668,769 |
| 2024 | $23,144 | $1,879,656 | $1,224,000 | $655,656 |
| 2023 | $22,700 | $1,842,800 | $1,200,000 | $642,800 |
| 2022 | $14,639 | $1,204,982 | $710,418 | $494,564 |
| 2021 | $14,449 | $1,181,356 | $696,489 | $484,867 |
| 2020 | $14,594 | $1,169,244 | $689,348 | $479,896 |
| 2019 | $14,022 | $1,146,319 | $675,832 | $470,487 |
| 2018 | $13,626 | $1,104,301 | $662,581 | $441,720 |
| 2016 | $13,018 | $1,061,421 | $636,853 | $424,568 |
| 2015 | $12,829 | $1,045,478 | $627,287 | $418,191 |
| 2014 | $5,902 | $452,043 | $301,362 | $150,681 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/04/2025 05/04/25 | Price Changed | $2,198,500 | 0.0% | $637 / Sq Ft |
| 05/04/2025 05/04/25 | For Sale | $2,198,500 | -6.2% | $637 / Sq Ft |
| 04/17/2025 04/17/25 | Off Market | $2,345,000 | -- | -- |
| 03/06/2025 03/06/25 | For Sale | $2,345,000 | +24.7% | $680 / Sq Ft |
| 07/29/2022 07/29/22 | Sold | $1,880,000 | -4.8% | $545 / Sq Ft |
| 07/29/2022 07/29/22 | Pending | -- | -- | -- |
| 06/10/2022 06/10/22 | For Sale | $1,975,000 | +92.7% | $572 / Sq Ft |
| 04/21/2014 04/21/14 | Sold | $1,025,000 | -16.3% | $301 / Sq Ft |
| 03/05/2014 03/05/14 | Pending | -- | -- | -- |
| 11/22/2013 11/22/13 | For Sale | $1,225,000 | -- | $360 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $1,843,000 | Old Republic Title | |
| Grant Deed | $1,025,010 | Provident Title Company | |
| Interfamily Deed Transfer | -- | None Available | |
| Grant Deed | -- | Provident Title Company | |
| Grant Deed | -- | Landsafe Title | |
| Trustee Deed | $418,500 | Landsafe Title | |
| Interfamily Deed Transfer | -- | Southland Title | |
| Grant Deed | $760,000 | Southland Title | |
| Gift Deed | -- | Investors Title Company | |
| Interfamily Deed Transfer | -- | Fidelity National Title Co | |
| Grant Deed | $168,000 | Fidelity National Title Co | |
| Gift Deed | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $76,000 | Credit Line Revolving | |
| Previous Owner | $532,000 | Negative Amortization | |
| Previous Owner | $168,750 | No Value Available | |
| Previous Owner | $153,000 | No Value Available | |
| Closed | $7,700 | No Value Available |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: AR25049725
APN: 5040-018-011
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
- 1281 W 35th St
- 1286 W 35th Place
- 1269 W 36th St
- 1254 W 36th St
- 1349 W 35th Place
- 3110 Raymond Ave
- 1452 W Jefferson Blvd
- 1168 W 36th St
- 1438 W 30th St
- 1435 W 30th St
- 2943 Walton Ave
- 2955 Van Buren Place
- 1408 W 35th St
- 2928 S Budlong Ave
- 1340 W 37th St
- 2920 Van Buren Place
- 1207 W 37th Place
- 1325 W 37th Place
- 1324 W 30th St
- 1466 W 35th St
- 1222 W 35th St
- 1224 W 35th St
- 1268 W 35th St
- 3428 S Budlong Ave
- 3425 Walton Ave Unit 3425C
- 3425 Walton Ave Unit 3425B
- 3421 Walton Ave Unit 3421.5
- 3430 Walton Ave
- 1192 W 35th St
- 3408 S Budlong Ave
- 1283 W 36th St
- 1320 W Jefferson Blvd
- 3620 S Budlong Ave Unit 2
- 1186 W 36th St Unit 1
- 1296 W Jefferson Blvd
- 1317 W Jefferson Blvd
- 1418 W Jefferson Blvd
- 3105 Walton Ave
- 1299 W 36th Place
- 1324 W 36th St