Thank you
Adam Shamooelian
Keller Williams Beverly Hills
310-432-6400
We are pleased to offer the opportunity to acquire this turnkey Student Housing Portfolio consisting of two (2) brand new construction homes(2020) + one (1) fully remodeled house. Each house has its own APN, and is 100% occupied with USC students, 1-year lease agreements, and also parent guaranteed. 1256 W. Adams Blvd. is comprised of an updated and fully remodeled 9-bedroom + 7-bathroom house. This three story beauty offers classic wood floors, a huge living room and dining area, perfect for communal living and gatherings. The house features quartz counter tops, stainless steel appliances, large flat screen TV's, washer & dryer, an outdoor common area with a barbecue grill and hot tub. 1258 & 1260 W. Adams Blvd. are newly constructed in 2020(non-rent control) and consist of two spacious 3-bedroom + 3-bathroom houses. Amenities include washer & dryer, stainless steel kitchen appliances, air conditioning, tiled showers with glass enclosures, wall-mounted flat screen televisions and USB charging ports. In addition, there is a Value-Add Opportunity to convert the garages into 1-bedroom units (Buyer to Verify). The investment is well positioned, located in the DPS Patrol Zone, and walking distance to the USC campus & Village. Expenses are extremely light as the tenants pay for all water, trash, gas, and electricity. This investment presents an excellent opportunity for an investor to acquire a unique premier student housing portfolio in the attractive USC submarket that will provide exponential returns. The growth of the student base continues to outpace the growth of housing and will provide continuous demand for quality housing in premium locations. 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 continued excellent operating fundamentals.
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Total Bedrooms : 15
Total Baths: 13
Full Baths: 0
Half Baths: 0
Year Built: 2020
Building Area Total: 5,103
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1544
Lot Size Dimensions: 54x135
Lot Size Source: Estimated
Lot Size Square Feet: 6726
Original List Price: 3,995,000
Listing Contract Date: 2024-05-01
Listing Agreement: Seller Reserved
Parcel Number: 5055014031
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C16 - Mid Los Angeles
Postal Code Plus 4: 1705
Directions: 1256, 1258, & 1260 W. Adams Blvd, Los Angeles 90007. 3 House Portfolio each with their own APN.
Zoning: LAR4
Source Property Type: Residential Income
Area: C16 - Mid Los Angeles
Property Age: 4
Year Built Source: Builder
Total Square Feet Living: 5103
Levels or Stories: Multi/Split
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
1415 W 22nd Street, Los Angeles, CA,90007 | $1,047,500 | 5 | -- | 2,189 | 5997 Sqft |
1421 W 22nd Street, Los Angeles, CA,90007 | $1,047,500 | 5 | -- | 2,189 | 6290 Sqft |
2754 Kenwood Avenue, Los Angeles, CA,90007 | $1,625,000 | 5 | 3 | 3,502 | 9004 Sqft |
1459 W 29th Street, Los Angeles, CA,90007 | $1,299,000 | 7 | -- | 2,986 | 7487 Sqft |
2723 S Budlong Avenue, Los Angeles, CA,90007 | $1,999,999 | -- | -- | 7,294 | 7771 Sqft |
2220 Raymond Avenue, Los Angeles, CA,90007 | $1,600,000 | 8 | 4 | 4,864 | 6750 Sqft |
1362 W 37th Drive, Los Angeles, CA,90007 | $750,000 | 3 | 2 | 1,276 | 4501 Sqft |
2112 Toberman Street, Los Angeles, CA,90007 | $1,595,000 | -- | -- | 4,208 | 5496 Sqft |
1275 W 37th Drive, Los Angeles, CA,90007 | $1,500,000 | 5 | 3 | 1,786 | 6602 Sqft |
1256 W 22nd Street, Los Angeles, CA,90007 | $1,080,000 | 4 | -- | 2,436 | 5859 Sqft |
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ByOwner last updated this listing 05/23/2024 @ 08:33
MLS: 24386689
LISTED BY: Adam Shamooelian, Keller Williams Beverly Hills
SOURCE: CRMLS
Buyer Agency Compensation: 2.25%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.