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$ 2,885,000
Est. payment | /mo
6,734 SqFt
$ 2,885,000
Est. payment | /mo
6,734 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,734 sqft
Price per Sqft $428
MLS Listing ID CL26671171
HOA Y/N No
Year Built 1964
Lot Size 7,252 Sqft
Acres 0.1665
Property Sub-Type Other
Property Description
We are proud to present the exclusive opportunity to acquire this beautifully updated, modern 9-unit, 18-bedroom student housing apartment complex located within the highly desirable DPS Patrol Zone, just a block from the University of Southern California (USC) & University Village. This turnkey investment has undergone approximately $400,000 in recent capital improvements, creating a high-quality, low-maintenance asset positioned for long-term stability. Upgrades include new hardwood and vinyl flooring throughout, modern kitchen and bathroom cabinetry, quartz countertops, stainless steel appliances, new bathroom vanities, toilets, tubs, and tile finishes, and fresh interior and exterior paint. Major building systems have also been replaced or enhanced, including a new roof, new copper plumbing, dual-pane energy-efficient windows, a high-efficiency central water heater, and a complete sewer line replacement with PVC piping. Additional improvements include a secured entry gate for resident safety and the completed Los Angeles mandated earthquake retrofit, featuring foundation anchoring, shear wall reinforcement, and steel frame strengthening for full seismic compliance. Each unit features furnished bedrooms, stainless steel appliances, quartz countertops, and tiled showers with glass enclosures, showcasing modern finishes and thoughtful design throughout. The property is individually metered for gas, electricity, and water, reducing ownership expenses and improving efficiency. The building totals 6,734 rentable square feet on a 7,250-square-foot lot, consisting of (1) one-bedroom + one-bathroom unit, (1) three-bedroom + one-bathroom unit, and (7) two-bedroom + one-bathroom units. Each unit offers a spacious layout ideal for student tenants.The property is 100% occupied with USC students and fully leased for the 20252026 academic year, generating a gross income of $20,255 per month. With parental guarantees on leases and a consistent record of near 100% occupancy, the asset represents a low-risk, turnkey investment offering stable returns and strong operating fundamentals. Priced at a 6.75% cap rate and 12x GRM, this property delivers both dependable cash flow and long-term appreciation potential in one of Los Angeles' most sought-after rental markets. Additional amenities include on-site laundry facilities for supplemental income and secure gated access for enhanced resident safety.
Location
State CA
County Los Angeles
Zoning LARD2
Interior
Heating Other
Cooling Other
Flooring Tile
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Building
New Construction No
Others
Tax ID 5040015010
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Listed by Davis Saadian • Keller Williams Hollywood Hills
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Patrick Nagel
REALTOR® | Lic# 1760790