1220 27Th St, Los Angeles, CA 90007
4 Unit Dormitory | $3,995,000 ($998,750/Unit) | 6.03% Cap Rate | Los Angeles, CA 90007
Asking Price $3,995,000
- Property Type
-
Multifamily
- Square Feet
- 5,108 SF
Listing Contacts
- Property Info
Property Overview
Davis Saadian of Carolwood Partners is pleased to present the opportunity to acquire 1220 W. 27th Street, a sixteen (16) bedroom student housing investment, located North of campus, in the prestigious DPS Patrol Zone, and just steps to the University of Southern California (USC). This two-story building was constructed of wood frame and stucco on a raised foundation, featuring a total square footage of 5,108 SF on a 6,346 SF lot. The property and all units were recently updated & remodeled - featuring brand new hardwood floors, stainless steel kitchen appliances, quartz counter tops, in-unit washer/ dryers, and individually metered for gas & electricity. The expansive lot size allows an investor to add significant value to the property by constructing two (2) 5-bedroom + 4-bathroom ADU’s to further increase cash-flow, generating an even higher yield/ net income. The asset is fully occupied with students, and the total gross income is $25,190/month. With the construction of two ADU’s, the total income will be approximately $37,500/month.
PLEASE NOTE THE FOLLOWING:
1) DO NOT DISTURB THE TENANTS.
2) Submit Offer on a CAR Residential-Income Purchase Agreement.
3) Interior Inspection/Books & Records Granted with an Accepted Offer.
4) Submit Proof of Funds & Pre-Qualification Letter with Offer.
5) Seller Selects all Services.
Disclaimer: All information has been secured from sources we believe to be reliable. However, we make no representation or warranties, expressed or implied, as to the accuracy of the information provided, including square footage, lot size, permitted or un-permitted spaces, and/or bedroom/bathroom count. Buyer is advised to independently verify the accuracy of this information through personal inspections and/or with appropriate professionals. Buyer bears all risk for any inaccuracies.
PLEASE NOTE THE FOLLOWING:
1) DO NOT DISTURB THE TENANTS.
2) Submit Offer on a CAR Residential-Income Purchase Agreement.
3) Interior Inspection/Books & Records Granted with an Accepted Offer.
4) Submit Proof of Funds & Pre-Qualification Letter with Offer.
5) Seller Selects all Services.
Disclaimer: All information has been secured from sources we believe to be reliable. However, we make no representation or warranties, expressed or implied, as to the accuracy of the information provided, including square footage, lot size, permitted or un-permitted spaces, and/or bedroom/bathroom count. Buyer is advised to independently verify the accuracy of this information through personal inspections and/or with appropriate professionals. Buyer bears all risk for any inaccuracies.
Property Details
- Year Built/Renovated
- 1913/2022
- Stories
- 2
- Property Subtype
- Dormitory
- Lot Size (sq. ft)
- 6,534 SF
- Units
- 4
Highlights
- CURRENT STABILIZED HIGH YIELD 6% CAP RATE
- EACH ROOM RENTING FOR APPROXIMATELY $1,575/MONTH
- COMPLETE REHAB WITH PERMITS. TURN-KEY INVESTMENT
- NINE (9) ON-SITE PARKING SPACES
- WALKING DISTANCE TO THE USC CAMPUS & VILLAGE
- LOCATED IN THE DESIRABLE DPS PATROL ZONE
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