Property listed by KW Advisors, Davis Saadian 310-482-2200
$1,750,000
We are pleased to offer the opportunity to acquire two (2) single-family residences, consisting of 15-beds which can fit up to 19-beds. The properties are located in the highly desirable DPS Patrol Zone, and just minutes to the University of Southern California (USC).The two restored Craftsman homes were completely updated… Read More & remodeled in 2015 - featuring polished hardwood floors, stainless steel kitchen appliances, granite counter tops, and in-unit washer & dryers. Both properties have updated copper plumbing, electrical systems, new roofs, and central HVAC.The structures were built in 1913, constructed of wood frame and stucco on a raised foundation, with a total square footage of 4,100 SF, on a 6,905 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 unit mix, consisting of one (1) 8-bedroom + 6-bathroom SFR, and one (1) 4-bedroom + 2-bathroom SFR. The bedrooms are spacious and furnished with beds, armoires, desks, mini-fridges, and individual thermostat controls. Combined with parental guarantees on some 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 young working professionals, fully leased with a gross income of $13,600/month. There's approximately 20% potential upside in rents, which an investor can achieve closer to about $17,400/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 (buyer to verify). Currently priced at a 7% Cap Rate Excellent cash-flow investment opportunity. Please email for the Executive Summary/ Financial Analysis. Read Less
Listing Snapshot
Days Online
30
Last Updated
Property Type
Other
Beds
15
Square Ft.
4,100
Lot Size
0.16 Acres
Year Built
1913
MLS Number
25506913
30 Days Snapshot Of 90007
$1,000k
+8%
(avg) sold price
1
0%
home sold
64
+72%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dishwasher, Disposal, Refrigerator, Dryer, Washer
Building
Built in 1913, Building area total: 4,100, Levels: MultiSplit, Living area: 4100, 2 buildings, Architectural style: Craftsman
Community
Gated
Cooling
CentralAir, Dual
Fireplaces
BonusRoom, Bath, Den, DiningRoom, Kitchen, LivingRoom
Floors
Tile, Wood
Heating
Central
Income
Gross income: $163,200, Net operating income: $122,546
Laundry
Inside
Lot
0.1586 acres, 6,907 square feet, Size: 6,907
Parking
4 totals parking, Gated, Private
Property
Zoning: LARD1.5
Security Features
SecurityGate, GatedCommunity
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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