212 29Th St Los Angeles, CA 90011

Property Details for 212 29Th St

Year built

2024

Property size

7,918 SF

Property type

Commercial real estate

APN

5128-004-010

Description

This exceptional 2024-built, five-unit apartment building presents a compelling investment opportunity near the University of Southern California campus. Boasting 7,918 square feet of net rentable space across two, three-story buildings, this Class A property offers a compelling 6.38% cap rate and a projected net operating income (NOI) of $191,064. Each of the five units is a spacious four-bedroom layout, attracting both individual renters and master lease opportunities, particularly appealing to USC students. The property features modern finishes including quartz countertops, large rear patios, walk-in closets, in-unit laundry hookups, high-end kitchens, and beautifully designed bathrooms. All units have separate meters for gas, electric, and water, minimizing operating expenses. Located at 212 E 29th St, Los Angeles, CA 90011, on a charming tree-lined street, this property benefits from its proximity to Exposition Park and its designation as a Qualified Opportunity Zone, offering significant tax advantages. The asking price is $2,995,000, translating to an attractive price per unit of $599,000. Nine parking spaces are available, and the property sits on a 6,977 square foot lot, zoned LARD1.5. The building is delivered with a one-year builder's warranty. This is a rare opportunity to acquire a high-performing, low-maintenance multifamily asset in a prime location with strong rental demand and significant tax benefits. The absence of rent control further enhances the investment potential. The property is ready for immediate closing.