1180 W Adams Blvd, Los Angeles, CA 90007

Description

USC-Area 2-Unit Property on Adams Blvd - 1902 Front House + 2022 ADU, 6.90% Current Cap Rate, 5-Minute Walk to USC.

1180 W. Adams Boulevard presents a 2-unit, 11-bedroom investment opportunity located a short 5-minute walk to the USC campus. The property consists of a classic 1902 two-story front house configured as a 6 bed/5 bath and a 2022-built 5 bed/4 bath ADU, totaling approx. 2,700 SF on a large 7,067 SF lot. The front house pairs original wood built-ins and trim with an updated kitchen, stainless steel appliances, and in-unit laundry, while the newer ADU features a modern kitchen with stainless steel appliances and contemporary bathrooms. Both units are currently leased, providing in-place income.

Offered at $1,880,000, $940,000 per unit and $696 per square foot, at a 6.90% current cap rate and 10.53 GRM. Current rents total $14,883/month ($178,596/year), with projected market rents of $17,600/month ($211,200/year), reflecting an 8.90 GRM and 8.47% cap rate. As a 2-unit property, it may qualify for residential financing.

Located within USC's DPS patrol zone and free Lyft ride zone, with easy access to Downtown LA, the 10 Freeway, Exposition Park, the LA Memorial Coliseum, Banc of California Stadium, and the new Lucas Museum of Narrative Art, with the area set to host major events for the 2028 Olympic Games.

Some photos have been virtually enhanced.