Welcome to 2818 S. Normandie Ave, a premier student housing investment and development opportunity located within the highly desirable DPS Patrol Zone, just moments from the University of Southern California (USC). This offering will be delivered with RTI (Ready-To-Issue) permits for two (2) stacked ADUs, each designed as 3-bedroom /… Read More 3-bathroom units of approximately 1,000 SF. The property consists of a fully furnished 8-bedroom duplex (5BD+3BA and 3BD+1BA) situated on a large 6,619 SF LARD1.5 lot, located within a designated Historic Preservation Overlay Zone (HPOZ) currently fully leased to USC students at $9,100/month. The property has undergone prior renovations, including updated interiors and systems, and the exterior has recently been refreshed with new paint, further enhancing its overall condition and curb appeal. Upon completion, the property will total 14 bedrooms across four units, creating a highly efficient, rent-by-the-room student housing asset. The approved ADU layouts feature well-proportioned bedrooms and ensuite-style living, ideal for maximizing rental income and maintaining consistent demand from the USC student population. Once RTI is achieved, a buyer can immediately move forward with construction and avoid the time and uncertainty of the entitlement process. Based on current rents and projected performance, the property offers a clear path to a stabilized ~10.2% cap rate upon completion of the ADUs (assuming a construction cost of $250/SF), making it an attractive opportunity for investors seeking both in-place income and strong value-add upside. Located in close proximity to USC, USC Village, Exposition Park, and the Metro E Line, the property benefits from one of the strongest and most consistent rental markets in Los Angeles. Student demand in this pocket remains driven by walkability, proximity to campus, and the continued growth of USC's student population. This is a rare opportunity to acquire a stabilized student housing asset with RTI development upside in one of LA's most proven rental corridors. Buyer to verify all permits, plans, square footage, and development potential. RTI status to be delivered prior to closing. Projections are estimates and not guaranteed. Read Less
Property listed by Keller Williams Beverly Hills, Adam Shamooelian 310-432-6400
Listing Snapshot
Days Online
18
Last Updated
Beds
8
Square Ft.
3,061
Lot Size
0.15 Acres
Year Built
1906
MLS Number
26827285
Additional Details
Building
Built in 1906, Living area: 3061.0, 1 building, 2 stories, Levels: Two
Disclosures
Historical
Income
Gross Income: $109,200, Net Operating Income: $87,754
Lot
0.152 acres
Parking
4 total parking spaces
Taxes
Parcel Number: 5054006011, 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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