Mohr Real Estate Group

Mohr Real Estate Group

2666 Orchard Avenue Los Angeles CA 90007 MLS #24434421

2666 Orchard Avenue
Los Angeles, CA, 90007
$4,225,000
Beds
0 Baths
SqFt
0.14 Acres
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$4,225,000
2666 Orchard Avenue
Los Angeles, CA, 90007
MLS #24434421 img 0

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.

Property Details

Price:
$4,225,000
MLS #:
24434421
Status:
Active
Baths:
0
Address:
2666 Orchard Avenue
Type:
Residential Income
Neighborhood:
c16midlosangeles
City:
Los Angeles
Listed Date:
Sep 2, 2024
State:
CA
ZIP:
90007
Lot Size:
6,242 sqft / 0.14 acres (approx)
Year Built:
1928

Schools

Interior

Appliances
Dishwasher, Disposal, Refrigerator

Exterior

Parking Features
Private
Parking Spots
5.00
Stories Total
2

Financial

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2666 Orchard Avenue
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