212 E 29th St is an OPPORTUNITY ZONE 3-story, townhome-style new construction 5-unit (4 + 1 ADU) located minutes from Exposition Park and moments from the USC campus! With an ideal location that attracts both master lease and individual renters (USC students especially!), we project an outstanding 6.38% cap rate once stabilized! This upscale property is made up of ALL expansive 4-bedroom units! With tons of balconies, ideal parking (9 spaces, 7 in garages and 2 exterior spaces), luxury finishes, and large floorplans, these units will be the #1 choice for high paying USC students, recent graduates, master lease companies, and more! Every box is checked! 212 E 29th St is situated just minutes from Exposition Park, a 160-acre urban park that houses the California Science Center, the BMO Stadium, the Los Angeles Memorial Coliseum, EXPO Center, the California African American Museum, the Natural History Museum, the Rose Garden and the Dr. Theodore T. Alexander Jr. Science Center Charter School. Plus its minutes from the countless local hotspots and conveniences in the area, including the USC Village, DTLA Arts District, and major employment hubs. Thanks to the excellent location, this will be an extremely easy to manage, high cash flow property. Enjoy no rent control, OZ benefits, separate meters for all utilities and a 1-year builders warranty! In addition to being a magnet for standard renters, we are already seeing incredible response from master leasing companies who want to rent the whole building at a premium.
Property Features
Bedrooms
Appliances
- Appliances: Dishwasher, Freezer, Gas Oven, Gas Range, Microwave, Refrigerator
- Appliances YN: Yes
- Laundry Features: Dryer Included, Gas Dryer Hookup, Washer Hookup, Washer Included
Other Rooms
Heating and Cooling
- Cooling Features: Central Air
- Heating Features: Central
- Heating: Yes
Bathrooms
Interior Features
Garage and Parking
- Carport Spaces: 2
- Garage Spaces: 7
- Parking Total: 9
Land Info
- Lot Description: Landscaped
- Lot Size Acres: 0.1435262
- Lot Size Source: Assessor
- Lot Size Square Feet: 6252
Exterior and Lot Features
- Road Frontage Type: City Street
- Road Surface Type: Paved
Home Features
Multi-Unit Info
- Number of Units: 5
- Bedrooms in Unit-1: 4
- Bedrooms in Unit-2: 4
- Bedrooms in Unit-3: 4
- Bedrooms in Unit-4: 4
- Bedrooms in Unit-5: 4
- Total Bathrooms in Unit-1: 5
- Total Bathrooms in Unit-2: 4
- Total Bathrooms in Unit-3: 4
- Total Bathrooms in Unit-4: 4
- Total Bathrooms in Unit-5: 4
- Unit-1 Garage Spaces: 2
- Unit-2 Garage Spaces: 2
- Unit-3 Garage Spaces: 2
- Unit-4 Garage Spaces: 1
Homeowners Association
- Calculated Total Monthly Association Fees: 0
- Gardener Expense: 1200.00
- Maintenance Expense: 2000.00
Rental Info
- Tenant Pays: All Utilities
Amenities and Community Features
- Community Features: Sidewalks
Other Property Info
- Annual Tax Amount: 35922.00
- Source Listing Status: Active
- County: Los Angeles
- Cap Rate: 6.38
- Source Property Type: Residential Income
- Insurance Expense: 7126.00
- Area: C42 - Downtown L.A.
- Source Neighborhood: C42 - Downtown L.A.
- New Taxes Expense: 35382.00
- Number of Separate Electric Meters: 5
- Number of Separate Gas Meters: 5
- Number of Separate Water Meters: 5
- Parcel Number: 5128004010
- Postal Code Plus 4: 1931
- Zoning: LARD1.5
- Source System Name: C2C
Commercial Info
- Net Operating Income: 191064.00
Building and Construction
- Total Square Feet Living: 7918
- Year Built: 2024
- Building Features: 2
- Common Walls: 1 Common Wall
- Direction Faces: Northeast
- Entry Level: 1
- Entry Location: front
- New Construction: Yes
- Property Attached: Yes
- Property Condition: Turnkey
- Levels or Stories: Three Or More
- Building Total Stories: 1
- Structure Type: Quadruplex
- House Style: Modern
- Year Built Source: Builder
Utilities
- Electric: Standard
- Sewer: Sewer: Public Sewer
- Water Source: Public