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$3,995,000
Est. payment /mo
17 Beds
15 Baths
4,931 SqFt
UPDATED:
01/07/2025 07:01 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,931 sqft
Price per Sqft $810
MLS Listing ID 25477767
Bedrooms 17
HOA Y/N No
Year Built 2018
Lot Size 7,217 Sqft
Property Description
We are pleased to offer the opportunity to acquire this brand new construction five (5) unit, 17-bedroom, student housing apartment complex, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). This turnkey, new construction investment features brand new fully furnished bedrooms, 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, new copper plumbing, double pane windows, and individually metered for all utilities: gas, electricity, & water. The building is approximately 4,931 rentable square feet on a 7,217 square foot lot, consisting of (3) 3-bedroom + 3-bathroom units, and (2) 4-bedroom + 3-bathroom units. 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 2024-2025 year, with a gross income of $27,038/month. There's approximately 15% potential upside in rents, which an investor can achieve closer to about $29,000/month. The investment is priced at a current 6.25% Cap Rate & 13.2x GRM.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Zoning LARD1.5
Interior
Cooling Dual
Flooring Wood
Fireplace No
Appliance Dishwasher, Disposal, Refrigerator, Dryer, Washer
Exterior
Parking Features Gated
Total Parking Spaces 5
Building
Story 3
Entry Level Multi/Split
Architectural Style Modern
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5040007026
Special Listing Condition Standard
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Listed by Davis Saadian • KW Advisors