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Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26241170
HOA Y/N No
Year Built 1902
Lot Size 7,065 Sqft
Property Sub-Type Duplex
Property Description
1180 W. Adams Boulevard presents a 2-unit, 11-bedroom investment opportunity located a short 5-minute walk to the USC campus. The property consists of a classic 1902 two-story front house configured as a 6 bed/5 bath and a 2022-built 5 bed/4 bath ADU, totaling approx. 2,700 SF on a large 7,067 SF lot. The front house pairs original wood built-ins and trim with an updated kitchen, stainless steel appliances, and in-unit laundry, while the newer ADU features a modern kitchen with stainless steel appliances and contemporary bathrooms. Both units are currently leased, providing in-place income.
Offered at $1,880,000, $940,000 per unit and $696 per square foot, at a 6.71% current cap rate and 10.53 GRM. Current rents total $14,883/month ($178,596/year), with projected market rents of $17,600/month ($211,200/year), reflecting an 8.90 GRM and 8.27% cap rate. As a 2-unit property, it may qualify for residential financing.
Located within USC's DPS patrol zone and free Lyft ride zone, with easy access to Downtown LA, the 10 Freeway, Exposition Park, the LA Memorial Coliseum, Banc of California Stadium, and the new Lucas Museum of Narrative Art, with the area set to host major events for the 2028 Olympic Games.
Some photos have been virtually enhanced.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR4
Interior
Heating Central
Cooling Central Air
Flooring Laminate, Wood
Fireplace No
Appliance Dishwasher, Gas Range, Microwave, Refrigerator
Laundry Inside
Exterior
Fence Wrought Iron
Pool None
Community Features Urban
Private Pool No
Building
Lot Description Level, Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Architectural Style Craftsman
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5055025001
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
Nearby Locations
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