UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26241158
HOA Y/N No
Year Built 1895
Lot Size 6,207 Sqft
Lot Dimensions Assessor
Property Sub-Type Duplex
Property Description
1032 W. 22nd Street presents a 2-unit, 7-bedroom investment opportunity located a short 5-minute walk to the USC campus. The property consists of a classic 1895 Victorian front house configured as a 4 bed/4 bath and a detached 2018-built 3 bed/3 bath ADU, totaling approx. 2,014 SF on a 6,209 SF lot. Both units feature updated interiors with wood-style flooring, white cabinetry, and stainless steel appliances, and the front house includes in-unit laundry. The property is fully leased, providing immediate in-place income.
Offered at $1,040,000, $520,000 per unit and $516 per square foot, at a 6.59% current cap rate and 10.13 GRM. Current rents total $8,556/month ($102,672/year), with projected market rents of $9,450/month ($113,400/year), reflecting a 9.17 GRM and 7.53% 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, the LA Convention Center, 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 LARD1.5
Interior
Flooring Laminate
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 1
Entry Level One
Sewer Public Sewer
Water Public
Architectural Style Victorian
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5124006019
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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