We are pleased to offer the opportunity to acquire this four (4) unit, 16-bedroom, value-add student housing apartment complex, located in the highly desirable DPS Patrol Zone, less than 1 block to the University of Southern California (USC). This two-story building was constructed of wood frame and stucco on a… Read More raised foundation built in 1960 with a square footage of 4,923 on a 5,981-square foot lot. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of (4) 4-bedroom + 2-bathroom units. The investment boasts spacious floor plans, secured gated entry, an on-site laundry room for additional income, five (5) on-site parking spaces, and individually metered for gas and electricity. Three of the four units will be delivered vacant upon the close of escrow an excellent value-add opportunity to remodel and update the units to achieve top market rents.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 expansive lot size allows an investor to add even more value to the property by constructing an ADU to further increase cash-flow (about $5,500/month), generating an even higher yield/ net income. (Buyer to verify) Read Less
Property listed by KW Advisors, Davis Saadian 310-482-2200
Listing Snapshot
Days Online
4
Last Updated
Property Type
Other
Beds
16
Square Ft.
4,923
Lot Size
0.14 Acres
Year Built
1960
MLS Number
24473609
30 Days Snapshot Of 90007
$883k
-13%
(avg) sold price
2
-33%
homes sold
68
+4%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator, Dryer, Washer
Building
Built in 1960, Building area total: 4,923, Levels: Two, Living area: 4923, 2 stories, 1 building
Income
Gross income: $288,000, Net operating income: $241,954
Lot
0.1374 acres, 5,983 square feet, Size: 5,983
Parking
5 totals parking, Private
Property
Zoning: LARD1.5
Find The Perfect Home
'VIP' Listing Search
Join our email list to have access to the best off market listings in Los Angeles.
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.
Confirm your time
Fill in your details and we will contact you to confirm a time.
