2143 Portland Street

Los Angeles, CA 90007

$2,390,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $502 / sqft

1901

calendar_month Built

Property Description

We are pleased to offer the opportunity to acquire this high yield 7.31% Cap turnkey two (2) unit, 12 bedroom + 10 bathroom Student Housing investment opportunity, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The subject property was expertly designed, remodeled, and constructed by the one of the top student housing operators near USC, renowned for their track record of delivering best-in-class off-campus housing and providing tenants with an unparalleled housing experience. The property is approximately 4,761 rentable square feet on a large 7,270 square foot lot and has two (2) separate structures, with a unit mix of a large Single Family Residence comprised of fully renovated and permitted 8 bedrooms + oversized den & 6 bathrooms, as well as an additional brand new construction ADU in the rear consisting of 4 bedrooms and 4 bathrooms. The subject property's front structure was completely updated and remodeled in 2023, and features brand new flooring, brand new plumbing/electrical, updated roof, quartz countertops, stainless steel kitchen appliances, tiled showers with glass enclosures, and new in-unit washer & dryers. The back unit is a brand-new ADU recently constructed and completed in 2023 and features the same high-end finishes as the front unit, essentially delivering a brand new low maintenance structure to any prospective buyer. The investment is 100% occupied with USC students and fully leased for the 2023-2024 academic school year as well as pre-leased for the 2024-2025 school year(Rent will increase from $15,795 monthly to $17,499 monthly starting August 2024). 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. Tenants pay for all utilities of the property including Water/Gas/Electric/Trash.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 2143 Portland Street
City Los Angeles
State CA
Zip 90007
County Los Angeles
Listing Agent Adam Shamooelian DRE#02116849
Courtesy Of Keller Williams Beverly Hills
MLS 24382397
List Price $2,390,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 7,162
Year Built 1901
DOM 8

Exterior Information

Maps

Listing information courtesy of: Adam Shamooelian, Keller Williams Beverly Hills . *Based on information from the Association of REALTORS/Multiple Listing as of Apr 30th, 2024 at 5:13 AM 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.