46
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$4,095,000
Est. payment /mo
4,540 SqFt
Active
2666 Orchard Avenue Los Angeles, CA 90007
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,540 sqft
Price per Sqft $901
MLS Listing ID CL25524115
HOA Y/N No
Year Built 1928
Lot Size 6,242 Sqft
Acres 0.14
Property Sub-Type Other
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 year, with a gross income of $23,235/
Location
State CA
County Los Angeles
Zoning LARD
Interior
Heating Other
Cooling Other
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Building
New Construction No
Others
Tax ID 5055026028
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Listed by Davis Saadian • Keller Williams Hollywood Hills