The offering consists of 12 spacious studios that are currently rented to USC students and local residents. Recent upgrades include new windows and blinds, a coin-operated washer and dryer, and new interior and exterior paint. The property is fully occupied and stabilized and obtains relatively strong rents that are near market rates. The property is subject to rent control; because it is master-metered, the propertys rents may be raised by five percent every year (separately metered buildings can only raise rents by three percent). 1159 West 39th Street is located in an area poised for rapid appreciation in coming years. It is less than one-half of a mile from the University of Southern California, which makes it a convenient option for students who want to live within walking distance to campus. The property is also a short walk from the new MTA Light Rail Expo Line that connects Santa Monica/Culver City to Downtown Los Angeles, so this property is an attractive option for commuters as well. Additionally, the property is in close proximity to Exposition Park, home to the world-famous Los Angeles Coliseum as well as the planned new 22,000-seat soccer stadium that will be home to the Los Angeles Football Club. The stadium project is projected to create 1,800 new permanent jobs and $129MM in additional annual economic activity in the area.
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, Listed on
STEVEN M. BOGOYEVAC, BROKER
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This Multi-Family home
for sale in Los Angeles, CA
is currently listed for $1,500,000.
Featuring a lot size of 4,212 Sq. Ft.,
1159 W 39th Street
was built in 1928 and
has been on coldwellbankerrealestate.com for 34 days.
This listing is provided courtesy of STEVEN M. BOGOYEVAC, BROKER.
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Data last updated: Saturday, December 3, 2016 at 11:02 PM. Properties in listings may have been sold or may no longer be available.