2666 Orchard Avenue, Los Angeles, CA 90007
  • MLS#: 24434421 ( )
  • Street Address: 2666 Orchard Avenue
  • Viewed: 1
  • Price: $4,225,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1928
  • Bldg sqft: 0
  • Days On Market: 74
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90007
  • Provided by: KW Advisors
  • Contact: Davis Davis
  • California Regional MLS IDX
  • DMCA Notice
  • 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.
Property Location and Similar Properties
Request More Information
  • All fields are required.
Contact Patrick Adams
Contacting Patrick Adams
  • All fields are required.
Schedule A Showing
Schedule a Showing.
  • All fields are required.
Check this box to Register with us:
Features
Appliances
  1. Dishwasher
  2. Disposal
  3. Refrigerator
Building Area Total
  1. 4540.00
Country
  1. US
Laundry Features
  1. Washer Included
  2. Dryer Included
Levels
  1. Multi/Split
Netoperatingincome
  1. 215061.00
Parcel Number
  1. 5055026028
Parking Features
  1. Private
Postalcodeplus4
  1. 2310
Sourcesystemkey
  1. 24-434421:CLAW
Totalexpenses
  1. 63759.00
Year Built
  1. 1928
Zoning
  1. LARD1.5