2666 Orchard Avenue, Los Angeles, CA 90007
-
Listed Price :
$4,225,000
-
Beds :
16
-
Baths :
11
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Property Size :
4,540 sqft
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Year Built :
1928
Property Description
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 walking distance to 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 (about $4,500/month), generating an even higher yield/ net income. Completed project will gross approximately $31,500/Month - $378,000/Year.
Interior Features
| Bedroom Information |
| Bedrooms |
16 |
| Bathroom Information |
| Bathrooms |
11 |
Listing Information
| Address |
2666 Orchard Avenue |
| City |
Los Angeles |
| State |
CA |
| Zip |
90007 |
| County |
Los Angeles |
| Listing Agent |
Davis Saadian DRE #01921748 |
| Courtesy Of |
KW Advisors |
| List Price |
$4,225,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
4,540 |
| Lot Size |
6,242 |
| Year Built |
1928 |
Listing information courtesy of: Davis Saadian, KW Advisors. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 2nd, 2024 at 5:28 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.
