CA > Los Angeles
Los Angeles, CA 90007,2666 Orchard Ave
Los Angeles, CA 90007,2666 Orchard Ave
Los Angeles, CA 90007,2666 Orchard Ave
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$4,225,000
Est. payment /mo
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16 BD
11 BA
4,540 SqFt
Active

2666 Orchard Ave Los Angeles, CA 90007

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Enrique Arce Cervera

Enrique Arce Cervera

+1(702) 601-3668

UPDATED:

11/24/2024 01:49 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,540 sqft

Price per Sqft $930

MLS Listing ID 24-434421

Bedrooms 16

Year Built 1928

Lot Size 6,242 Sqft

Acres 0.1433

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.

Location

State CA

County Los Angeles

Area Mid Los Angeles

Zoning LARD1.5

Rooms

Other Rooms Other

Interior

Heating Other

Cooling Other

Equipment Freezer, Garbage Disposal, Range/Oven, Refrigerator, Dryer, Dishwasher, Other, Washer

Exterior

Parking Features Other, Private

Garage Spaces 5.0

Building

Story 2

Level or Stories Multi/Split

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by KW Advisors

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Enrique Arce Cervera

Realtor | RE.S.0193817

+1(702) 601-3668

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2666 Orchard Ave