Description
We are pleased to offer for sale this brand new 2018 construction, non-rent control, four (4) unit, twelve (12) bedroom + twelve (12) bathroom student housing investment opportunity, located blocks to the University of Southern California (USC). The investment comes with RTI approved plans and permits to construct two (2) ADU's - one (1) 2-bedroom + 2-bathroom ADU, and one (1) 3-bedroom + 3-bathroom ADU. The subject property features brand new hardwood floors, copper plumbing, quartz counter-tops, stainless steel kitchen appliances, tiled showers with glass enclosures, and in-unit washer & dryers. Unit mix consists of four (4) 3-bedroom + 3-bathroom units, high 9ft ceilings, and each unit is approximately 1,650 sqft. The property is approximately 6,500 rentable square feet on a 5,700 square foot lot and is comprised of two (2) separate structures. The total combined square footage including the ADU's is about 7,982 Square feet.The investment is 100% occupied with USC students and fully leased for the 2022-2023 academic school year. Leases are parent guaranteed and occupancy levels routinely achieve 100% for the school year. Current income is $15,000/Month, and with the completed ADU's, total combined income would be approximately $20,000/Month. Expenses are light as the tenants pay for all utilities - Water, trash, gas, and electricity.
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12BEDS
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0.13ACRES
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0BATHS
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01/2 BATHS
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7,982SQFT
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$394$/SQFT
School Ratings & Info
Description
We are pleased to offer for sale this brand new 2018 construction, non-rent control, four (4) unit, twelve (12) bedroom + twelve (12) bathroom student housing investment opportunity, located blocks to the University of Southern California (USC). The investment comes with RTI approved plans and permits to construct two (2) ADU's - one (1) 2-bedroom + 2-bathroom ADU, and one (1) 3-bedroom + 3-bathroom ADU. The subject property features brand new hardwood floors, copper plumbing, quartz counter-tops, stainless steel kitchen appliances, tiled showers with glass enclosures, and in-unit washer & dryers. Unit mix consists of four (4) 3-bedroom + 3-bathroom units, high 9ft ceilings, and each unit is approximately 1,650 sqft. The property is approximately 6,500 rentable square feet on a 5,700 square foot lot and is comprised of two (2) separate structures. The total combined square footage including the ADU's is about 7,982 Square feet.The investment is 100% occupied with USC students and fully leased for the 2022-2023 academic school year. Leases are parent guaranteed and occupancy levels routinely achieve 100% for the school year. Current income is $15,000/Month, and with the completed ADU's, total combined income would be approximately $20,000/Month. Expenses are light as the tenants pay for all utilities - Water, trash, gas, and electricity.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-21T20:42:59.63. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.