We are pleased to offer the opportunity to acquire this brand new construction five (5) unit, 15-bedroom, student housing apartment complex, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). This turnkey, 2022 new construction investment 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, copper plumbing, double pane windows, and individually metered for all utilities: gas, electricity, & water. The building is approximately 5,448 rentable square feet on a 6,800 square foot lot, consisting of (2) 3-bedroom + 3-bathroom units, (2) 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 year, with a gross income of $25,348/month. There's approximately 15% potential upside in rents, which an investor can achieve closer to about $27,000/month. The investment is priced at a current 7.1% Cap Rate & 11.6x GRM.
Days on market: 8
Listing updated: May 01, 2025 - 01:02:05
Listed by: Davis Saadian DRE #01921748 310-623-1300, Keller Williams Hollywood Hills - Beverly Hills/Greater LA
Source: Beverly Hills/Greater LA, MLS#: CLW-X7252101 Originating MLS: CRMLS
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