We are proud to present the exclusive opportunity to acquire this beautifully updated, fully renovated and modern 5-unit apartment complex located in the premier North of Campus USC student housing submarket and within the highly coveted USC Department of Public Safety (DPS) Patrol Zone. Properties in this pocket rarely come… Read More to market, particularly those offering a combination of renovated improvements, newer construction, and additional development upside. The property consists of approximately 3,490 square feet of improvements situated on a well-located 6,863 square foot parcel, walking distance the University of Southern California. The asset is comprised of two separate structures: a fully renovated 2-unit front building that has been taken down to the studs and rebuilt with upgraded building systems, and a newer rear 3-unit structure constructed in 2015. The front building has been taken down to the studs and fully renovated, effectively delivering like-new construction with upgraded electrical, plumbing, roofing, and modern interior finishes. This structure consists of a spacious 4-bedroom + 4-bathroom unit and a large studio unit. The rear 2015 structure was constructed with modern layouts tailored for USC student housing, consists of three (3) 2-bedroom + 2-bathroom units designed to maximize rental demand and tenant appeal.Units feature modern finishes and amenities including vinyl plank hardwood flooring, recessed lighting, quartz countertops, stainless steel appliances, dishwashers, in-unit washer and dryers, and remote-controlled mini splits. Each unit is separately metered for gas, electricity, and water, minimizing owner expenses and creating a highly efficient operating structure.In addition to the existing improvements, the property offers significant value-add potential through approved Ready-To-Issue (RTI) plans and permits to convert approximately 860 square feet of attic space into a new 4-bedroom + 2-bathroom accessory dwelling unit (ADU). The proposed ADU is projected to achieve market rents of approximately $6,400 per month, providing a significant additional income stream and further enhancing the property's overall cash flow. Priced at a 6.5% cap rate, the property offers investors strong in-place income, modern improvements, and additional upside through the future ADU conversion. The property is 100% occupied with USC students and is fully leased for the 2025-2026 academic year with leases already secured for the 2026-2027 year. Email listing agent for the executive summary/ financial analysis. Read Less
Property listed by Keller Williams Hollywood Hills, Davis Saadian 310-259-7556
Listing Snapshot
Days Online
8
Last Updated
Beds
11
Square Ft.
3,490
Lot Size
0.16 Acres
Year Built
2015
MLS Number
26668023
Additional Details
Appliances & Equipment
Dishwasher, Disposal, Refrigerator, Dryer, Washer
Building
Built in 2015, Living area: 3490.0, 2 buildings, 2 stories, Levels: Two
Cooling
Dual
Heating
Combination
Income
Gross Income: $228,240, Net Operating Income: $184,105
Lot
0.1576 acres, Dimensions: 50x137
Parking
None
Property
UpdatedRemodeled
Taxes
Parcel Number: 5055010026, 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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