Price$1,047,500
Price/SqFt$478.53
StatusActive
SqFt
2,189
Acres
0.144
CountyLos Angeles
Year Built2002
Property TypeResidential Income
We are pleased to offer the opportunity to acquire this two (2) building student housing portfolio on 1415 W. 22nd Street & 1421 W. 22nd Street, located in the DPS patrol zone, and close proximity to the University of Southern California (USC). The investment consists of two (2) contiguous 3-unit apartment buildings (6 units total), built recently in 2002. The properties feature a unit mix of one (1) 3 bedroom + 2 bathroom unit, as well as two (2) 1 bedroom + 1 bathroom units. The investment also allows the opportunity to further increase cash flow by adding Accessory Dwelling units (ADU's- Buyer to Verify) in the rear of the oversized 12,287 sqft lot. Given the location, attractive local area amenities, and opportunity to increase rental income, this investment presents an excellent opportunity for an investor to acquire a unique portfolio in the attractive USC submarket that will provide exponential returns with value add upside. Both properties are being sold contiguously (Total Price: $2,095,000).
County
Los Angeles
Price Reduction Date
2023-01-25T23:14:30+00:00
Price/SqFt
478.53
Property Type
Residential Income
Year Built
2002
Zoning
LARD2
Levels
Two
Stories Total
2
Lot Size Area
6290
Lot Size Source
Appraiser
Lot Size Square Feet
6290
Number Of Buildings
1
Parking
yes
Parking Total
5
Country
US
MLS Area Major
C16 - Mid Los Angeles
Association
no
Days On Market
408
List Agent State License
02116849
List Office State License
01428775
Lot Size Units
Square Feet
New Construction
no
Number Of Units Total
3
Parcel Number
5055001048
Gross Multiplier
19.2
Gross Operating Income
57132
Net Operating Income
43382
Special Listing Conditions
Standard
Total Expenses
13750
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#IDX-primaryPhoto,#idx-details-header,#IDX-listingMediaLinksListed by: AdamShamooelian, DRE #02116849 from Keller Williams Beverly Hills 310-432-6400