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Aja McGown

myrealtoraja@gmail.com +1(949) 735-2984

$1,650,000

Est. payment - /mo

6,250 Sqft Lot

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Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID CV26237153

HOA Y/N No

Year Built 1958

Lot Size 6,250 Sqft

Property Sub-Type Apartment

Property Description

Exceptional opportunity to acquire a 5-unit multi-family investment currently operating as student housing walking distance to USC, delivering an impressive 7.37% current CAP Rate and 10.19 GRM, with projected upside to an 8.89% CAP Rate and 8.79 GRM. Currently occupied entirely by USC students, this property offers investors strong day-one cash flow, significant income growth potential, and a desirable location within the USC Department of Public Safety (DPS) Patrol Zone.
The property features a unique configuration consisting of a fourplex and a detached rear cottage, with each unit offering a desirable 3-Bedroom/2-Bath floor plan, providing a total of 19 rentable beds. Encompassing approximately 4,584 building square feet on a 6,200 sq. ft. lot.

The real advantage is the student rental model. The property is under the Rent Stabilization Ordinance (RSO), which caps rent increases for tenants who stay. Students move out every year, though, so rents reset to market at each turnover. Most RSO buildings fall further behind market every year, while this one can keep its income in line with market rents. Residents also enjoy off-street parking and an onsite laundry facility, amenities that add convenience and enhance the property's appeal to USC students.

This property combines strong current financial performance, an attractive bedroom configuration, and substantial rental upside. With a 7.37% current CAP Rate and the potential to achieve an 8.89% CAP Rate at projected market rents, this is a compelling opportunity for investors seeking high-yield student housing in the USC rental market.

Location

State CA

County Los Angeles

Area C16 - Mid Los Angeles

Zoning LAR4

Interior

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Parking Features Paved

Fence Wrought Iron

Pool None

Community Features Street Lights, Sidewalks

Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available

View Y/N No

View None

Roof Type Flat,Shingle

Accessibility None

Total Parking Spaces 5

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Entry Level One,Two

Sewer Public Sewer

Water Public

Level or Stories One, Two

New Construction No

Others

Senior Community No

Tax ID 5054035020

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

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Listed by Kristopher German RE/MAX 2000 REALTY 909-645-0443, DRE #01800021

NEARBY SCHOOL & BUSINESS

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