2666 Orchard Avenue, Los Angeles
Los Angeles Home For Sale
We are pleased to offer the opportunity to acquire this seven (7) unit, 16-bedroom, turn-key student housing apartment complex, located in the highly desirable DPS Patrol Zone, and blocks away from the University of Southern California (USC). The site is situated in the pristine rare North of campus pocket; the best of the best location. The property and all seven (7) units were completely updated & remodeled in 2022 - 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 units. The investment features a new roof, updated copper plumbing, double pane windows, and individually metered for gas & electricity. The building is approximately 4,520 rentable square feet on a 6,241 square foot lot, consisting of (4) 3-bedroom + 2-bathroom units, (2) 1-bedroom + 1-bathroom units, and (1) 2-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 2024-2025 year, with a gross income of $23,235/month. There's approximately 15% potential upside in rents, which an investor can achieve closer to about $27,000/month. The expansive lot size allows an investor to add even more value to the property by constructing a 3-bedroom + 3-bathroom ADU to further increase cash-flow, generating an even higher yield/ net income. Completed project will gross approximately $31,500/Month - $378,000/Year.
Property Details
Additional Information
-
- City:
- Los Angeles
-
- County:
- Los Angeles
-
- Zip:
- 90007
-
- MLS® #:
- 24415085
-
- Bedrooms:
- 19
-
- Bathrooms:
- 14
-
- Square Ft:
- 4,540
-
- Lot Size:
- 0.14
-
- Levels:
- Two
-
- HOA Dues:
- $
Based on information from California Regional Multiple Listing Service, Inc. as of July 15th, 2024 at 2:55pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.