Sold
1159 W 29th Street
Los Angeles CA, 90007
$5,000,000
$789.89 per sqft
Sold
20 Beds
12 Baths
6,330 sqft
Unknown
Built in 1906
Listed by Davis Saadian with Compass 310-230-5478
We are pleased to present the opportunity to acquire The 29TH Street Portfolio, an eleven (11) building, 110-Bedroom, Student Housing Portfolio, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC).Consisting of 11 separate structures, The 29TH Street Portfolio provides investors the opportunity to acquire a sizable presence in one of the most desirable infill student housing markets in the United States. Additionally, while the properties have been well maintained under current ownership, they are well suited for common area upgrades and interior unit remodeling/ updates that will further increase cashflow and returns. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The investment is 100% occupied with USC students, and fully leased for the 2022-2023 year perfectly positioned to benefit from the enrollment growth in an under-supplied student housing market. The following properties are being sold together as a portfolio sale: 1137 W. 29th Street, LA 90007, 1151 W. 29th Street, LA 90007, 1159 W. 29th Street, LA 90007, 1173 W. 29th Street, LA 90007, 1179 W. 29th Street, LA 90007, 1329 W. 29th Street, LA 90007, 2830 Menlo Ave, LA 90007, 1358 W. 29th Street, LA 90007, 1360 W. 29th Street, LA 90007, 1535 W. 30th Street, LA 90007, 1481 W. 25th Street, LA 90007.
22178331
MLSⓇ ID
July 13, 2022
Listed
February 10, 2024
Updated
Map
1159 W 29th Street
Los Angeles CA, 90007
Interior Features
Total Stories
0
Bedrooms
20 Beds
Bathrooms
12 Baths
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.2 Acres
Other Property Details
Area Name
C16 - Mid Los Angeles
Days on Market
103
Garage
No
Parking Total
0
View
No
County
Los Angeles
Pool
No
Zoning
LARD1.5
Buyer Agency Compensation
1.5%
Listing Contact: 310-230-5478
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/10/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 2/10/2024 at 7:14 AM UTC