1492 W 28th St Los Angeles, CA 90007
Adams-Normandie NeighborhoodEstimated payment $9,163/month
Total Views
705
4
Beds
3
Baths
1,557
Sq Ft
$931
Price per Sq Ft
Highlights
- Dining Room with Fireplace
- Central Heating and Cooling System
- 5-minute walk to Richardson Family Park
- No HOA
About This Home
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. The existing 5-bedroom / 3-bathroom front house has been completely renovated with modern finishes and updated systems, and is currently leased at $5,000/month, with signed leases in place to increase the rent to $6,000/month beginning August 2025. 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!
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $12,551
Year Built
- Built in 1903
Lot Details
- 7,440 Sq Ft Lot
- Lot Dimensions are 55x136
- Property is zoned LAR2
Parking
- 2 Parking Spaces
Interior Spaces
- 1,557 Sq Ft Home
- 2-Story Property
- Dining Room with Fireplace
Kitchen
- Microwave
- Dishwasher
Bedrooms and Bathrooms
- 4 Bedrooms
- 3 Full Bathrooms
Laundry
- Laundry in unit
- Dryer
- Washer
Utilities
- Central Heating and Cooling System
- Vented Exhaust Fan
Community Details
- No Home Owners Association
Listing and Financial Details
- Assessor Parcel Number 5054-034-009
Map
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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 |
|---|---|---|---|---|
| 2024 | $12,551 | $1,015,000 | $812,000 | $203,000 |
| 2023 | $7,305 | $577,581 | $461,721 | $115,860 |
| 2022 | $6,976 | $566,257 | $452,668 | $113,589 |
| 2021 | $6,886 | $555,155 | $443,793 | $111,362 |
| 2019 | $6,686 | $538,691 | $430,631 | $108,060 |
| 2018 | $6,559 | $528,130 | $422,188 | $105,942 |
| 2016 | $6,270 | $507,624 | $405,795 | $101,829 |
| 2015 | $6,179 | $500,000 | $399,700 | $100,300 |
| 2014 | $3,158 | $240,000 | $170,000 | $70,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/15/2025 05/15/25 | For Sale | $1,450,000 | +42.9% | $931 / Sq Ft |
| 07/21/2023 07/21/23 | Sold | $1,015,000 | -11.4% | $652 / Sq Ft |
| 06/05/2023 06/05/23 | Pending | -- | -- | -- |
| 06/02/2023 06/02/23 | For Sale | $1,145,000 | +129.0% | $735 / Sq Ft |
| 07/16/2014 07/16/14 | Sold | $500,000 | -4.9% | $321 / Sq Ft |
| 07/15/2014 07/15/14 | Pending | -- | -- | -- |
| 07/08/2014 07/08/14 | For Sale | $526,000 | -- | $338 / Sq Ft |
Source: The MLS
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $1,015,000 | California Title Company | |
| Grant Deed | $500,000 | North American Title Co | |
| Grant Deed | $130,001 | North American Title Company |
Source: Public Records
Similar Homes in the area
Source: The MLS
MLS Number: 25539051
APN: 5054-034-009
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