We are pleased to offer the opportunity to acquire this brand new construction five (5) unit, 15-bedroom, student housing apartment complex, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). This turnkey, new construction investment features brand new fully furnished bedrooms,… Read More brand new hardwood floors, stainless steel kitchen appliances, quartz counter tops, tiled showers with glass enclosures, in-unit washer & dryers, and high-end finishes throughout the units. The investment features a new roof, new copper plumbing, double pane windows, and individually metered for all utilities: gas, electricity, & water. The building is approximately 5,448 rentable square feet on a 6,800 square foot lot, consisting of (2) 3-bedroom + 3-bathroom units, (2) 4-bedroom + 3-bathroom units, and (1) 1-bedroom + 1-bathrom unit. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The investment is 100% occupied with USC students, and fully leased for the 2024-2025 year, with a gross income of $25,348/month. There's approximately 15% potential upside in rents, which an investor can achieve closer to about $27,000/month. The investment is priced at a current 6.45% Cap Rate & 12.6x GRM. Read Less
Property listed by KW Advisors, Davis Saadian 310-482-2200
Listing Snapshot
Days Online
11
Last Updated
Property Type
Other
Beds
15
Square Ft.
5,448
Lot Size
0.16 Acres
Year Built
2022
MLS Number
25477833
30 Days Snapshot Of 90007
$1,055k
0%
(avg) sold price
0
-100%
homes sold
77
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dishwasher, Disposal, Refrigerator, Dryer, Washer
Building
Built in 2022, Building area total: 5,448, Levels: MultiSplit, Living area: 5448, 2 buildings, Architectural style: Modern
Community
Gated
Cooling
Dual
Income
Gross income: $304,176, Net operating income: $233,834
Lot
0.1562 acres, 6,802 square feet, Size: 6,802
Parking
5 totals parking, Gated
Property
Zoning: LARD1.5
Security Features
GatedCommunity
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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