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    1213 W 24Th St Los Angeles, CA 90007

    For Sale
    $2,138,000

    Apartment - Los Angeles, CA

    Type:Apartment
    Property size:
    3,167 SF
    Lot size:
    5,873.00 Acres
    Days on Market:
    147
    Last Refresh:
    Dec 8 at 5:06 pm

    Property Features for 1213 W 24Th St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Standard status
    Active
    Zoning
    LAR4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    10
    Bathrooms
    10
    APN
    5055017002
    Exterior features
    Community Features Included: Curbs, Front Yard
    Size
    3,167 SF
    Lot size
    5,873.00 Acres

    Building Details

    Year built
    1956
    Floors in Building
    1
    Number of units
    3
    Architectural style
    Other

    IRN Realty (626) 447-5100 [email protected]

    Listing agent Gina Ma (626) 447-5100 License #01426061

    Listing date Jul 15, 2025

    MLS# AR25158175 Listing URL

    Copyright © 2025 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Student Housing Master Lease Investment

    This is a three-unit property with ten bedrooms and ten bathrooms, suitable as a student housing master lease investment. Located within the DPS Patrol Zone, it offers close proximity to the University of Southern California (USC). The property includes two separate structures, with a unit mix consisting of two 3-bedroom, 3-bathroom units in the front and a new 4-bedroom, 4-bathroom ADU in the back. The property provides approximately 3,167 rentable square feet on a 5,878 square foot lot. The front structure was completely updated and remodeled in 2021, featuring new flooring, plumbing, electrical systems, an updated roof, quartz countertops, stainless steel kitchen appliances, tiled showers with glass enclosures, and in-unit washer and dryers. The back unit, a new ADU completed in 2021, features similar high-end finishes. The property is 100% occupied with USC students and fully leased for the 2022-2023 academic school year. The property is master leased to a property management company until July 31, 2026. Starting August 1, 2023, the property will generate $134,400 per year ($11,200 per month) with annual 3% rent increases. Until August 1, 2023, the property nets $10,000 per month with the same property management company. The owner is responsible for taxes, insurance, and major capital expenditures, while the management company handles everything else.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.2869475
    Latitude
    34.0344902

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    FAQs

    What type of property is this?
    Apartment building - Turnkey 10-bedroom student housing near USC, fully leased through 2026.
    Where is this apartment building located?
    The property is located at 1213 W 24Th St Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $2,138,000.
    What are key features of this property?
    This property features: - Turnkey, fully permitted 3-unit student housing investment property near USC.; - Master lease in place until July 31, 2026, generating $134,400 annually starting August 1, 2023, with 3% annual rent increases.; - Features 10 bedrooms and 10 bathrooms across two structures, including a brand-new 4-bedroom ADU.
    (626) 447-5100
    Request Owner's contact information
    1213 W 24Th St Los Angeles, CA 90007
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    Los Angeles, CA 90007
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1213 W 24Th St Los Angeles, CA 90007
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