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$ 11,545,000
Est. payment | /mo
15,903 SqFt
$ 11,545,000
Est. payment | /mo
15,903 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 15,903 sqft
Price per Sqft $725
MLS Listing ID CL25477875
HOA Y/N No
Year Built 2022
Lot Size 0.574 Acres
Acres 0.57
Property Sub-Type Other
Property Description
We are pleased to offer the opportunity to acquire this 47-bedroom + 43-bathroom USC Student Housing Portfolio, consisting of three (3) brand new construction Apartment Complexes, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). This turnkey, new construction portfolio features 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 portfolio consists of (10) 3-bedroom + 3-bathroom units, and (4) 4-bedroom + 3-bathroom units, and (1) 1-bedroom + 1-bathroom unit. 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 $78,757/month. There's approximately 15% potential upside in rents, which an investor can achieve closer to
Location
State CA
County Los Angeles
Zoning LARD
Interior
Cooling Other
Flooring Wood
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Building
New Construction No
Others
Tax ID UNAVAILABLE
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Listed by Davis Saadian • KW Advisors
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Patrick Nagel
REALTOR® | Lic# 1760790