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Listing Details

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School Ratings & Info

Description

We are pleased to offer the opportunity to acquire this eight (8) Bedroom + Detached Rec Room + four (4) Bathroom student housing investment opportunity, located in the DPS Patrol Zone, and walking distance to the University of Southern California (USC).This three-story building was constructed of wood frame and stucco on a raised foundation built in 1908 with a square footage of 2,314 on a 7,492-square foot lot. The investment boasts spacious floor plans, on-site laundry, five (5) on-site parking spaces, and tenants pay for all water, trash, gas and electricity. Theres an excellent value-add opportunity to construct and ADU, and further increase cash flow (Buyer to Verify) The investment is 100% occupied with USC students and fully leased for the 2021-2022 academic school year. 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.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-18T17:42:39.713. 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.
www.searchdesertrealestate.com/homes/120949417
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2706 Menlo Ave Los Angeles, CA 90007

  • Price: $1,775,000
  • Status: Pending
  • Updated: 46 min ago
  • MLS #: 21-778244
8
Beds
0
Baths
0
½ Baths
0.17
Acres
2,314
SQFT
$767
$/SQFT
1908
Built
Neighborhood:
Mid Los Angeles
County:
Los Angeles
Area:
Mid Los Angeles
Property Description
We are pleased to offer the opportunity to acquire this eight (8) Bedroom + Detached Rec Room + four (4) Bathroom student housing investment opportunity, located in the DPS Patrol Zone, and walking distance to the University of Southern California (USC).This three-story building was constructed of wood frame and stucco on a raised foundation built in 1908 with a square footage of 2,314 on a 7,492-square foot lot. The investment boasts spacious floor plans, on-site laundry, five (5) on-site parking spaces, and tenants pay for all water, trash, gas and electricity. Theres an excellent value-add opportunity to construct and ADU, and further increase cash flow (Buyer to Verify) The investment is 100% occupied with USC students and fully leased for the 2021-2022 academic school year. 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.
Exterior Features

Lot Size Area 7492 Other Structures Other Parking Garage Other Total Parking 0

Interior Features

Baths Total 4.00 Cooling Central Equipment DishwasherDryerFreezerGarbage DisposalIce MakerMicrowaveRange/OvenWasherRefrigerator Flooring Hardwood Heating Central

Property Features

Assessed Total Value 932178 Gross Income 129600 Gross Operating Income 128008 Like Units1 1 Net Operating Income 886945.00 Number Of Buildings 2 Number Of Units 1 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 38314 Type Of Units Sfr Year Built Source Vendor Enhanced Zoning Lard1.5

Listing provided courtesy of Davis Saadian DRE#01921748 of Keller Williams Beverly Hills.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-18T17:42:39.713. 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.
 
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The John Jay Group - Bennion Deville Homes
74996 Highway 111
Indian Wells CA, 92210