
Los Angeles, California 90007
This High-Potential Investment Opportunity is a Triplex listed at $1,550,000, positioned above the $1,456,524 Fair Market Value. While not priced at a discount, the property offers a projected 6.53% cap rate and 100% vacant delivery, allowing for immediate market-rate leasing. Featuring a 2023 New Construction front duplex and a renovated rear unit, the property boasts a Mint Condition Rating. With 11 bedrooms and 11 bathrooms, this asset is optimized for student housing near USC. It is an ideal acquisition for Buy-and-Hold Investors or University-Area Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1325 W. 24th Street Subject 0 bd · 0 ba · 2,738 sqft · $532 | $1,550,000* List Price | 0 | 0 | 2,738 | $532 | - |
A 2924 S Normandie Active 0 bd · 0 ba · 2,841 sqft · $452 · 0.7 mi | $1,285,000 List Price | 0 | 0 | 2,841 | $452 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property features a front duplex newly constructed in 2023 and a fully renovated rear unit. Interior images confirm a modern kitchen with new stainless steel appliances, shaker cabinets, and updated flooring. As a 2023 build/renovation, all systems (HVAC, electric, plumbing) are in mint condition with no maintenance required.
The property is delivered entirely vacant, allowing an investor to immediately establish market-rate rents and select a new tenant base without the legal hurdles of existing leases or rent control limitations.
With a total of 11 bedrooms and 11 bathrooms across three units, the layout is specifically optimized for high-density student housing or co-living, maximizing the per-room rental income potential.
The combination of a newly constructed 2023 front duplex and a renovated rear unit significantly reduces immediate capital expenditure needs and offers modern appeal to high-quality tenants.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2738, other record living area = 756.
Several assigned public schools, including Mack Elementary and Obama Global Prep, have low ratings (2/10), which may deter traditional family renters and limit the property's appeal to a specific student demographic.
The integration of a 1922 renovated structure with 2023 new construction may lead to inconsistent long-term maintenance requirements and aesthetic disparities between the front and rear units.
We are pleased to present 1325–1327 W. 24th Street, a rare opportunity to acquire a 100% vacant, three-unit multifamily property located approximately one mile from the University of Southern California's University Park Campus. One of the property's most compelling features is its 100% vacant delivery, providing investors with the exceptional opportunity to establish a new tenant base, implement a customized leasing strategy, and pursue current market rents without inheriting existing tenants or below-market leases. The property consists of a newly constructed two-story front duplex completed in 2023, together with a renovated rear residential unit originally constructed circa 1922. The property offers approximately 2,738 square feet of building area on a 5,903-square-foot lot. The residential configuration includes two four-bedroom/four-bathroom units and one three-bedroom/three-bathroom unit, providing a total of 11 bedrooms and 11 bathrooms. These multiple-bedroom layouts present an attractive opportunity for investors considering student-oriented rentals, traditional residential leasing, or other legally permissible rental arrangements. At the asking price of $1,550,000, the property offers a projected 6.53% capitalization rate, based on estimated monthly rental income of $12,650, or $151,800 annually. The pro forma assumes rental income averaging $1,150 per bedroom per month, a 2% vacancy allowance, and estimated annual operating expenses of $47,480, resulting in projected Net Operating Income of $101,284. Situated in the established University Park neighborhood, the property benefits from its proximity to USC, Exposition Park, Downtown Los Angeles, public transportation, dining, shopping, and surrounding amenities. 1325–1327 W. 24th Street combines the advantages of 100% vacant delivery, substantial 2023 new construction, and a desirable USC-area location, offering investors the opportunity to establish a new rental operation in one of Los Angeles' prominent university-area housing markets.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.6 mi
Grades K-5 • 0.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.5 |
| Baths | 0.0 | 2.9 |
| Square foot | 2,738 | 2,090.331 |
| Lot Size | 5,903 | 5,852.908 |
| Price | $1.55M | $830.9K |
| Price per sq ft | $566 | $394 |
| Built year | 2023 | 1928 |
| HOA | $0 | $0 |
| Days on market | 7 | 87 |
Nov 2, 2026
$1,550,000
Initial Listing
Sep 22, 2023
$2,321,000
Public Record
Aug 6, 2019
$634,500
Public Record
Jul 25, 2014
$279,000
Public Record
Apr 4, 2006
$177,500
Public Record