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$ 7,950,000
Est. payment | /mo
20,385 SqFt
$ 7,950,000
Est. payment | /mo
20,385 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 20,385 sqft
Price per Sqft $389
MLS Listing ID CL26851213
HOA Y/N No
Year Built 2021
Lot Size 9,403 Sqft
Acres 0.2159
Property Sub-Type Other
Property Description
Less than 650 Feet to USC Campus and only 300 Feet to Expo/Vermont Metro Station. We are pleased to present 1073 Exposition Blvd, a newly constructed (2021) 16-unit, 44-bed multifamily investment opportunity located less than one block from the University of Southern California (USC) and directly adjacent to the USC Viterbi School of Engineering within the USC Department of Public Safety (DPS) patrol zone. Positioned next to the Expo/Vermont Metro E Line Station, the property benefits from exceptional walkability, transit connectivity, and consistent rental demand from both students and conventional apartment renters. Unlike much of the newer student housing inventory surrounding USC, which is designed as dorm-style, by-the-bed housing, 1073 Exposition Blvd was built with apartment-grade construction featuring conventional unit layouts, elevator service, and rooftop amenities. This design creates unique operational flexibility, allowing ownership to continue operating the asset as premium student housing or transition to traditional market-rate apartments serving renters seeking convenient access to Downtown Los Angeles, Mid-City, Culver City, and the Westside via the Metro system. The property consists of 16 fully furnished units across a diverse unit mix of nine three-bedroom units, six two-bedroom units, and one five-bedroom unit. Units feature open floor plans, wood-style flooring, quartz countertops, stainless steel appliances, central HVAC, in-unit laundry, and abundant natural light, providing a modern living experience that appeals to a broad tenant base. Offered at $7,950,000, the property represents an extremely low basis for an elevator-equipped / 2021 built asset at $390 per square foot and $180,682 per bed, significantly below replacement cost and below many competing assets in the USC submarket. The offering offers significant additional upside through rent growth as in-place rents are adjusted toward market levels during future leasing cycles. USC remains one of the strongest housing demand drivers in Southern California, with an enrollment exceeding 46,000 students and a substantial portion of the student population residing off campus. The university's continued focus on enrollment growth, academic expansion, and global recruitment supports long-term demand for quality housing within walking distance of campus. As a recently constructed asset, the property also offers potential tax advantages through cost segregation and accelerated deprec
Location
State CA
County Los Angeles
Zoning RETAIL+RES
Interior
Heating Other
Cooling Central Air
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Building
Lot Description Other
New Construction No
Others
Tax ID 5040033009
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Listed by Benjamin Lee • Lyon Stahl Investment Real Estate, Inc.
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Patrick Nagel
REALTOR® | Lic# 1760790