6,250 Sqft Lot
6,250 Sqft Lot
Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV26237153
HOA Y/N No
Year Built 1958
Lot Size 6,250 Sqft
Property Sub-Type Apartment
Property Description
The property features a unique configuration consisting of a fourplex and a detached rear cottage, with each unit offering a desirable 3-Bedroom/2-Bath floor plan, providing a total of 19 rentable beds. Encompassing approximately 4,584 building square feet on a 6,200 sq. ft. lot.
The real advantage is the student rental model. The property is under the Rent Stabilization Ordinance (RSO), which caps rent increases for tenants who stay. Students move out every year, though, so rents reset to market at each turnover. Most RSO buildings fall further behind market every year, while this one can keep its income in line with market rents. Residents also enjoy off-street parking and an onsite laundry facility, amenities that add convenience and enhance the property's appeal to USC students.
This property combines strong current financial performance, an attractive bedroom configuration, and substantial rental upside. With a 7.37% current CAP Rate and the potential to achieve an 8.89% CAP Rate at projected market rents, this is a compelling opportunity for investors seeking high-yield student housing in the USC rental market.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR4
Interior
Cooling Wall/Window Unit(s)
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Parking Features Paved
Fence Wrought Iron
Pool None
Community Features Street Lights, Sidewalks
Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available
View Y/N No
View None
Roof Type Flat,Shingle
Accessibility None
Total Parking Spaces 5
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level One,Two
Sewer Public Sewer
Water Public
Level or Stories One, Two
New Construction No
Others
Senior Community No
Tax ID 5054035020
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
Nearby Locations
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