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Diego Magdaleno

diego@1visionproperties.com +1(714) 676-7271

$4,095,000

Est. payment - /mo

16 Beds

10 Baths

4,540 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 4,540 sqft

Price per Sqft $901

MLS Listing ID 25524115

Bedrooms 16

HOA Y/N No

Year Built 1928

Lot Size 6,242 Sqft

Property Description

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 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.

Location

State CA

County Los Angeles

Area C16 - Mid Los Angeles

Zoning LARD1.5

Interior

Heating Central

Cooling Dual

Fireplace No

Appliance Dishwasher, Disposal, Refrigerator, Dryer, Washer

Exterior

Parking Features Assigned

Total Parking Spaces 3

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5055026028

Special Listing Condition Standard

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Listed by Davis Saadian Keller Williams Hollywood Hills

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2666 Orchard AVE Los Angeles, CA 90007