Property Detail

Description

We are pleased to offer the opportunity to acquire this 14-bedroom investment opportunity, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The property and all fourteen (14) bedrooms were completely updated & remodeled - featuring 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 two-story structures, consisting of two separate single-family residences, were constructed of wood frame and stucco on a raised foundation. The front house was built in 1905 and the rear house was recently constructed in 2021, with a total square footage of 4,400 SF (not including a large attic loft of about 550 SF), on an 8,100 SF lot, zoned LARD1.5. The buildings have been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable mix, consisting of one (1) vacant 9-bedroom + 5-bathroom SFR (approximately 3,200 SF), and one (1) 5-bedroom + 4-bathroom SFR (approximately 1,200 SF). The front house comes with approved plans + permits, which would allow investors to legally renovate/ add additional bedrooms + bathrooms to add even more value to the property. 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 rear 5-bedroom + 4-bathroom SFR is 100% occupied, and fully leased for the 2024-2025 year. The investment is priced at an 8.5% cap rate - excellent cashflow opportunity.