We are pleased to present an exceptional investment opportunity: a newly constructed, fully furnished four-unit student housing property with a remarkable 6.69% cap rate. This property features a total of nineteen bedrooms and sixteen bathrooms, situated in the sought-after DPS Patrol Zone and just a short walk from the University… Read More of Southern California (USC). Spanning approximately 5,964 rentable square feet across two distinct structures, the front structure was completely rebuilt in 2023, and features brand new flooring, plumbing, quartz countertops, stainless steel kitchen appliances, tiled showers with glass enclosures, and new in-unit washer & dryers. Additionally, the front duplex's scope of work included a complete to-the-studs reconstruction, with brand new framing, foundation and roofing, essentially delivering a brand-new low maintenance structure to any prospective buyer. The back duplex was recently constructed and completed in 2023 and features the same high-end finishes as the front unit. The investment is 100% occupied with USC students and fully leased for the 2024-2025 academic school year. 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. Tenants pay for all utilities of the property including Water/Gas/Electric/Trash. (Monthly management fee of $2,007.25 is not included in the cap rate as potential buyers can self-manage at the expiration of leases.) Read Less
Property listed by Keller Williams Beverly Hills, Adam Shamooelian 310-432-6400
Listing Snapshot
Days Online
71
Last Updated
Property Type
Other
Beds
19
Square Ft.
5,964
Lot Size
0.13 Acres
Year Built
1919
MLS Number
24451439
30 Days Snapshot Of 90007
$883k
-13%
(avg) sold price
2
-33%
homes sold
72
+10%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1919, Building area total: 5,964, Levels: MultiSplit, Living area: 5964, 2 buildings
Income
Gross income: $344,100, Net operating income: $280,787
Lot
0.1348 acres, 5,871 square feet, Size: 5,871
Parking
2 totals parking
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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