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$1,047,500

Beds
5
sq ft
2,189

1421 W 22nd St, Los Angeles, CA 90007

1421 W 22nd St

Los Angeles, CA 90007

  • 592 days on market
    • Price drop $50,000↓
We are pleased to offer the opportunity to acquire this two (2) building student housing portfolio on 1415 W. 22nd Street & 1421 W. 22nd Street, located in the DPS patrol zone, and close proximity to the University of Southern California (USC). The investment consists of two (2) contiguous 3-unit apartment buildings (6 units total), built recently in 2002. The properties feature a unit mix of one (1) 3 bedroom + 2 bathroom unit, as well as two (2) 1 bedroom + 1 bathroom units. The investment also allows the opportunity to further increase cash flow by adding Accessory Dwelling units (ADU's- Buyer to Verify) in the rear of the oversized 12,287 sqft lot. Given the location, attractive local area amenities, and opportunity to increase rental income, this investment presents an excellent opportunity for an investor to acquire a unique portfolio in the attractive USC submarket that will provide exponential returns with value add upside. Both properties are being sold contiguously (Total Price: $2,095,000).

Details

Property type

Lot size

6,290 sq ft

Price per sq ft

$479

Year built

2002

HOA

No

Price History

12/29/2023
CLAW

CLAW #22218883

Listed
$1,047,500

Schools & Community

Neighborhood: 

University Park

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$295,934
Asking price
$1,047,500
Closing costs (~8% of asking)
-$83,800
Est. remaining loan balance
-$667,766
Cash to seller
$295,934

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Hometown Equity Mortgage

Loan start date

July 2021

Original loan amount

$712,500

Est. remaining balance

$667,766

Interest rate

2.99%

Loan type

New Conventional, 30 year

Seller

Christopher Burg and Julie Burg

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 07/01/2024 at 7:05 AM

Listing updated: 05/17/2024 at 11:28 AM

Listed by: Adam Shamooelian, Keller Williams Beverly Hills Phone #: (310) 432-6400

MLS: CLAW #22218883

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