Property listed by Lyon Stahl Investment Real Estate, Inc., Peter James 310-425-9838
$1,400,000
We are pleased to present this 4 unit opportunity at 2324 Portland St in the USC patrol zone, just north of campus. This is a unique opportunity to purchase an existing 4 unit apartment building on a large 8,957 square foot lot zoned LARD2-1XL-O-HPOZ. An investor should have an opportunity… Read More to add 2 ADUs, which would include 8 bedrooms and 8 bathrooms, which would be ideal for student housing(**Buyer to verify the feasibility of the ADU potential). The existing 4 unit is comprised of (1) 3 Bed / 1 Bath and (3) 1 Bed / 1 Bath units. There is substantial upside potential in the existing structure as well with 3 of the units being delivered vacant. The subject property is located in a great area just north of the USC campus in the DPS patrol area, making this an excellent location for students. It's located approximately mile from campus and even closer to the USC Village. USC continues to be a top rated university in the nation with approximately 46,000 students currently enrolled. The massive demand for housing near campus nearly always outstrips the supply, providing for low vacancy rates in student housing buildings within the boundaries of the DPS patrol zone. Read Less
Listing Snapshot
Days Online
17
Last Updated
Property Type
Other
Beds
5
Square Ft.
2,301
Lot Size
0.21 Acres
Year Built
1895
MLS Number
25513197
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
Building
Built in 1895, Building area total: 2,301, Levels: Two, Living area: 2301, 2 stories, 2 buildings
Community
Gated
Cooling
None
Heating
WallFurnace
Income
Gross income: $96,449, Net operating income: $64,970
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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