Apartment
For Sale
1519 W. 30th Street
Los Angeles, CA 90007
Asking Price
$1,495,000
Building Size
4,800 SF
Lot Size
5,632 SF
Number of Units
8
Investment Overview
Located just blocks from the University of Southern California (USC) and within the USC Patrol Zone, this 8-unit property presents a unique opportunity for investors and developers. Comprising all junior 1-bedroom units, the layout features a hallway connecting the living room, bathroom, and kitchen in each unit. Currently, two of the units are vacant, while the remaining tenants are long-term. Some tenants have expressed an interest in negotiating cash-for-keys, helping bolster future upside potential.
The property sits on a 5,609 square foot lot with 8 side-by-side parking spaces, providing additional upside potential by charging for parking. The lot is zoned (Q)R3-1-O-CPIO and falls under the TOC Tier 3 designation, enabling the development of up to 12 four-bedroom units that can be leased "per bed" to students, capitalizing on the high demand from USC's student population.
This property offers an estimated rental income upside of approximately 45%, making it an attractive opportunity for both immediate rental income and future development. The property is not located within an HPOZ zone, further simplifying any redevelopment plans.
With its prime location near USC and its zoning potential, this fixer-upper provides both immediate cash flow and long-term value growth.
ABOUT THE PROPERTY
ASKING PRICE:
BUILDING:
LOT SIZE:
UNIT MIX:
VACANCY RATE:
YEAR BUILT:
ZONING:
WALK SCORE:
PARKING SPACES:
CAP RATE:
GRM:
PRICE PER SQ.FT. (BUILDING):
PRICE PER UNIT:
$1,495,000
4,800 Sq.Ft.
5,632 Sq.Ft.
8 x Junior 1 Bedroom
Sold with Two Vacant Units
1924
(Q)R3-1-O-CPIO
77
8
5.2%
13.4
$311.46
$186,875
KEY HIGHLIGHTS
8-unit fixer upper with two vacant units located just blocks from the University of Southern California.
All of the units are junior 1-bedroom units with a hallway connecting a living room to a bathroom and a kitchen.
There are currently two vacant units. The remaining tenants are long-term. Some tenants have expressed an interest in negotiating cash-for-keys, helping bolster future upside potential.
The lot has 8 side-by-side parking spaces. Additional upside available by charging for parking.
Rent is increasing 4% in February 2025 creating a 5.4% cap rate.
Approximately 45% upside in rental income.
The 5,609 square foot lot is zoned (Q)R3-1-O-CPIO and falls under the TOC Tier 3 designation.
The property does not fall under an HPOZ Zone.
Using TOC, the zoning supports the development of 12 four bedroom units that can be leased "per bed" to students.
Proven Track Record of Success
Maher Commercial Realty has a proven track record of selling high-value apartment buildings throughout Los Angeles. Recent transactions include the sale of 541-545 Glenrock Avenue, 542 Glenrock Avenue, 534 Glenrock Avenue, 1411 Armacost Avenue and 461 & 467 Midvale Avenue, 10954 Robling Avenue, 1750 Perdue Avenue and 1906 Malcolm Avenue. Each of these properties presented unique challenges which our team skillfully navigated to deliver top-notch results for our clients.
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