Detailed Introduction Of This Home
We are pleased to offer the opportunity to acquire this three (3) unit, 11 bedroom + 6.5 bathroom Student Housing investment opportunity, located in the highly desirable DPS Patrol Zone, and close proximity to the University of Southern California (USC). The subject property was expertly designed, remodeled, and constructed by the one of the top student housing operators near USC, renowned for their track record of delivering best-in-class off-campus housing and providing tenants with an unparalleled housing experience. The property is approximately 3,231 rentable square feet on a 6,776 square foot lot. The property has two (2) separate structures, with a unit mix of a two (2) 3 bedroom units in the front with an additional brand new construction 5 bedroom + 4 bathroom ADU in the rear. The subject property's front structure is currently being rented out to students at below market rent, giving any prospective buyer the opportunity to significantly increase the properties overall rental income when the units are turned over. The back unit is a brand-new ADU recently constructed and completed in 2023 and features quartz counter-tops, stainless steel kitchen appliances, tiled showers with glass enclosures, and new in-unit washer & dryers, delivering a brand new low maintenance structure to any prospective buyer. The investment is 100% occupied with USC students and fully leased for the 2023-2024 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. The following properties are being sold together as a portfolio sale: 648-652 West 30th St. 90007, 2143-2145 Portland St. 90007, 1481 West 25th St. 90007, 2670 Ellendale Pl. 90007 (Listed by other agent), 1158-1160 W. 37th St. 90007 (Listed by other agent), and 1325 West 24th St. (Listed by other agent).