We are pleased to offer the opportunity to acquire this seven (7) unit, 16-bedroom, turn-key student housing apartment complex, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The site is situated in the pristine rare North of campus pocket; the… Read More best of the best location.The property and all seven (7) units were completely updated & remodeled in 2022 - featuring 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, updated copper plumbing, double pane windows, and individually metered for gas & electricity. The building is approximately 4,520 rentable square feet on a 6,241 square foot lot, consisting of (4) 3-bedroom + 2-bathroom units, (2) 1-bedroom + 1-bathroom units, and (1) 2-bedroom + 1-bathroom 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 year, with a gross income of $23,235/month. The expansive lot size allows an investor to add even more value to the property by constructing a 3-bedroom + 3-bathroom ADU to further increase cash-flow (about $4,500/month), generating an even higher yield/ net income. Read Less
Property listed by Keller Williams Hollywood Hills, Davis Saadian 310-623-1300
Listing Snapshot
Days Online
15
Last Updated
Property Type
Other
Beds
16
Square Ft.
4,540
Lot Size
0.14 Acres
Year Built
1928
MLS Number
25524115
Additional Details
Appliances & Equipment
Dishwasher, Disposal, Refrigerator, Dryer, Washer
Building
Built in 1928, Building area total: 4,540, Levels: Two, Living area: 4540, 2 stories, 2 buildings
Cooling
Dual
Heating
Central
Income
Gross income: $278,820, Net operating income: $216,621
Lot
0.1433 acres, 6,242 square feet, Size: 6,242
Parking
3 totals parking, Assigned
Property
Zoning: LARD1.5
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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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