We are pleased to offer the opportunity to acquire this sixteen (16) unit, 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 property and all sixteen (16) units were completely updated & remodeled in 2021 - 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 new solar panel system to save money on utilities/ expenses. The building is approximately 8,582 rentable square feet on a 5,788 square foot lot, consisting of sixteen (16) spacious studios. 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 2022-2023 year, with a gross income of $36,480/month.
Listed by Davis Saadian, Keller Williams Beverly Hills,
Based on information from California Regional Multiple Listing Service, Inc. as of 6/29/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
©2022 California Regional Multiple Listing Service. All rights reserved.
Data last updated 8:52 AM UTC, 6/29/22