Multifamily
1024 West 24th Street
1024 W 24th St, Los Angeles, CA 90007
Listing Price: $3,450,000
Investment Overview
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS.
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 16-unit (14 + 2 ADU) apartment community located at 1024 W. 24th Street. The subject property is located north of Adams Boulevard and east of Hoover Street, within the USC Patrol Zone.
The property is within walking distance of popular cafes, restaurants, and entertainment venues, as well as minutes from the University of Southern California (USC), the Coliseum, and Exposition Park. Its central location provides residents with convenient access to major employment hubs in Downtown Los Angeles, and beyond, supported by nearby public transit options and proximity to the I-10 and I-110 Freeways.
Situated on a 10,542-square-foot parcel, the property features one studio, five bachelors, seven one-bedroom units, and three two-bedroom units. The unit-mix consists of two recently added ADUs. Fifty-six percent of the units have been turned and renovated over the last 18 months, providing, a proven interior renovation strategy to capture USC students.
1024 W. 24th Street presents investors with a rare opportunity to acquire a mid-sized, value-add property close to the USC campus. A new investor can continue to operate as student housing or convert to Section 8 rentals as leases expire, which offers $200+ rent premiums.
1024 West 24th Street
Investment Highlights
- The electrical system, including the main panel, was upgraded by ownership along with interior improvements to 56% of units
- Located within the USC patrol zone
- Investors can continue operating as student housing or rent to Section 8 tenants that offer a $211-$270 rent premium (2025 max HACLA voucher for 90007 zip code)
- Several recent high-profile downtown office buildings traded in 2024, indicating renewed confidence, along with new ownership that will be able to sign leases at reset rental rates—drawing more employers back to the CBD
- Los Angeles will host the 2028 Summer Games, which is expected to have a significant impact on the city's real estate market, including infrastructure upgrades, neighborhood improvements, and significant enhancements to nearby venues such as the LA Coliseum, Crypto.com Arena, and BMO Stadium
- While two accessory dwelling units (ADUs) have been added by current ownership, SB 1211 expands the potential to add additional units to the property (buyer to verify)
Exclusively Listed By
Financing By
Listing Price: $3,450,000
Investment Highlights
- The electrical system, including the main panel, was upgraded by ownership along with interior improvements to 56% of units
- Located within the USC patrol zone
- Investors can continue operating as student housing or rent to Section 8 tenants that offer a $211-$270 rent premium (2025 max HACLA voucher for 90007 zip code)
- Several recent high-profile downtown office buildings traded in 2024, indicating renewed confidence, along with new ownership that will be able to sign leases at reset rental rates—drawing more employers back to the CBD
- Los Angeles will host the 2028 Summer Games, which is expected to have a significant impact on the city's real estate market, including infrastructure upgrades, neighborhood improvements, and significant enhancements to nearby venues such as the LA Coliseum, Crypto.com Arena, and BMO Stadium
- While two accessory dwelling units (ADUs) have been added by current ownership, SB 1211 expands the potential to add additional units to the property (buyer to verify)
Investment Overview
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS. The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 16-unit (14 + 2 ADU) apartment community located at 1024 W. 24th Street. The subject property is located north of Adams Boulevard and east of Hoover Street, within the USC Patrol Zone. The property is within walking distance of popular cafes, restaurants, and entertainment venues, as well as minutes from the University of Southern California (USC), the Coliseum, and Exposition Park. Its central location provides residents with convenient access to major employment hubs in Downtown Los Angeles, and beyond, supported by nearby public transit options and proximity to the I-10 and I-110 Freeways. Situated on a 10,542-square-foot parcel, the property features one studio, five bachelors, seven one-bedroom units, and three two-bedroom units. The unit-mix consists of two recently added ADUs. Fifty-six percent of the units have been turned and renovated over the last 18 months, providing, a proven interior renovation strategy to capture USC students. 1024 W. 24th Street presents investors with a rare opportunity to acquire a mid-sized, value-add property close to the USC campus. A new investor can continue to operate as student housing or convert to Section 8 rentals as leases expire, which offers $200+ rent premiums.
Exclusively Listed By
Financing By
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