$2,885,000
We are proud to present the exclusive opportunity to acquire this beautifully updated, modern 9-unit, 18-bedroom student housing apartment complex located within the highly desirable DPS Patrol Zone, just a block from the University of Southern California (USC) & University Village. This turnkey investment has undergone approximately $400,000 in recent capital improvements, creating a high-quality, low-maintenance asset positioned for long-term stability. Upgrades include new hardwood and vinyl flooring throughout, modern kitchen and bathroom cabinetry, quartz countertops, stainless steel appliances, new bathroom vanities, toilets, tubs, and tile finishes, and fresh interior and exterior paint. Major building systems have also been replaced or enhanced, including a new roof, new copper plumbing, dual-pane energy-efficient windows, a high-efficiency central water heater, and a complete sewer line replacement with PVC piping. Additional improvements include a secured entry gate for resident safety and the completed Los Angeles mandated earthquake retrofit, featuring foundation anchoring, shear wall reinforcement, and steel frame strengthening for full seismic compliance. Each unit features furnished bedrooms, stainless steel appliances, quartz countertops, and tiled showers with glass enclosures, showcasing modern finishes and thoughtful design throughout. The property is individually metered for gas, electricity, and water, reducing ownership expenses and improving efficiency. The building totals 6,734 rentable square feet on a 7,250-square-foot lot, consisting of (1) one-bedroom + one-bathroom unit, (1) three-bedroom + one-bathroom unit, and (7) two-bedroom + one-bathroom units. Each unit offers a spacious layout ideal for student tenants.The property is 100% occupied with USC students and fully leased for the 20252026 academic year, generating a gross income of $20,255 per month. With parental guarantees on leases and a consistent record of near 100% occupancy, the asset represents a low-risk, turnkey investment offering stable returns and strong operating fundamentals. Priced at a 6.75% cap rate and 12x GRM, this property delivers both dependable cash flow and long-term appreciation potential in one of Los Angeles' most sought-after rental markets. Additional amenities include on-site laundry facilities for supplemental income and secure gated access for enhanced resident safety. Email listing agent for the Executive Summary/ Financial Analysis.
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Listed by Davis Saadian with Keller Williams Hollywood Hills (310) 623-1300
Property Type
Residential Income
Status
Active
MLS Number
26671171
Year Built
1964
Lot Size
7,253 sq ft