$1,250,000

1492 W 28th Street, Los Angeles, CA 90007

  • 16 beds |
  • 14 baths |
  • 1,557 sqft
  • Property Icon Single-Family Home
  • Property Year Built Icon Built in 1903
  • Property Lot Size Icon7,440sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $803/sqft
  • Property List Date Icon Listed 2 months ago

Property Description

Price Reduced $200K! Welcome to 1492 W. 28th St, a premier investment & development opportunity located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). This property is being offered with RTI (Ready-To-Issue) permits to build a brand-new 11-bedroom / 11-bathroom duplex in the rear, creating a rare opportunity to purchase and develop a prime student housing asset while generating rental income during construction(Projected 9.15% Cap Rate Post Completion-includes management fee). The existing 5-bedroom / 3-bathroom front house has been completely renovated with modern finishes and updated systems, and is currently leased at $6,000/month, with an additional lease secured for the 26-27 school year at $6,000/month. Upon completion of the rear development, the property will total 16 bedrooms and 14 bathrooms, perfectly suited for student housing, co-living, or traditional rentals in one of LA's strongest rental markets. The approved plans feature large, well-designed bedrooms, each with its own ensuite bathroom, making the units significantly easier to lease and ideal for maximizing rent potential. With RTI permits already secured, investors and developers can bypass the time-consuming entitlement process and break ground im

Listing Status:
Active
Date Added:
January 21, 2026
Data Last Updated:
April 17, 2026 at 2:08PM
Listing Office:
Keller Williams Beverly Hills : 310-432-6400
Listing Agent:
Adam Shamooelian : 310-658-2668
MLS ID:
CL26640973
  • Appliances: DishwasherMicrowaveRefrigerator
  • Laundry: DryerWasher
  • A/C: Central Air
  • Heating: Central
  • Fireplace: Dining RoomFireplace
  • Style: See Remarks
  • Pool: None
  • Parking: Other
  • General: 2
  • Originating MLS: CRMLS
  • County: Los Angeles
  • Zoning: LAR25054034009
  • View: None
  • Source: CRMLS

This listing courtesy of Adam Shamooelian , Keller Williams Beverly Hills

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

V

Vermont Avenue Elementary

1435 W 27th St, Los Angeles, CA, 90007

Grades KG-5

0.14 miles away

S

Sophia T. Salvin Special Education Center

1925 S Budlong Ave, Los Angeles, CA, 90007

Grades KG-10

0.64 miles away

S

Sophia T. Salvin Special Education Center

1925 S Budlong Ave, Los Angeles, CA, 90007

Grades KG-10

0.64 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.