1459 W 29TH ST Los Angeles, CA 90007

Building Details

Year Built

1910

Listing office Estate Properties

Listing date May 3, 2022

Source Rochellemaize

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Investment Insights

Based on property information with market context.

This historic four-unit property is currently under the Mills Act. The configuration includes a large two-story front duplex and two separate detached houses at the rear. The main two-story unit is a 4-bedroom USC student rental, and the front duplex includes an additional 1-bedroom USC student rental. Additional income is generated from on-site laundry with a washer/dryer. Alley access is available for parking.

The seller notes that there is no sign on the property and that occupants should not be disturbed. Mills Act compliance requires work to be performed on all three structures. The seller will retain the gas/mineral rights associated with the property.

From an operator’s perspective, this setup is geared toward tenanting to USC students, with units already leased to USC students as described. Prospective buyers should factor in the Mills Act compliance work required across the front duplex and the two rear detached houses, along with the existing laundry revenue component. As presented, the property offers a four-unit residential portfolio with rear-alley parking access and an income stream supported by current in-place leases and laundry operations.

Key Highlights

• Historic four‑unit property built in 1910, currently under the Mills Act
• Front duplex plus two separate detached houses at the rear, with alley access for parking
• USC student rentals: 4‑bedroom unit rent listed at $3,100/month and 1‑bedroom unit rent listed at $1,508/month

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FAQs

What type of property is this?

Quadplex - Four-unit income property with USC student rentals, alley-access parking, and Mills Act compliance requirements for three structures.

Where is this quadplex located?

The property is located at 1459 W 29TH ST Los Angeles, CA.

What is the asking price?

The asking price for this property is $1,299,000.

What are key features of this property?

This property features: Historic four‑unit property built in 1910, currently under the Mills Act; Front duplex plus two separate detached houses at the rear, with alley access for parking; USC student rentals: 4‑bedroom unit rent listed at $3,100/month and 1‑bedroom unit rent listed at $1,508/month