2666 Orchard Avenue
$4,225,000
16
11
4,540
4,540
$931
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...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.
- Listed by Davis Saadian • DRE #01921748 • Brokerage DRE #01854200 • KW Advisors
Property Details for 2666 Orchard Avenue
Zoning
LARD1.5
Parcel Number5055026028
Total Units7.0
Living Area4540
Source Living AreaVendor Enhanced
AreaMid Los Angeles (C16)
Vacancy Rate0%
Lot Size Area6242
LISTING UPDATED: 09/10/2024 12:01 AM
Property Details for 2666 Orchard Avenue
Status | Active |
---|---|
MLS # | 24-434421 |
Days on Market | 79 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1928 |
Lot Size | 0.14 AC / 6,242 SF |
County | Los Angeles County |
Building Information for 2666 Orchard Avenue
Stories2Residences-Year Built1928Building Size-Lot Size0.14 AC / 6,242 SF
Property Information for 2666 Orchard Avenue
Property History for 2666 Orchard Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2666 Orchard Avenue
Taxable ValueLand$3,121,200Additions$1,082,496Total$4,203,696
Tax Record2024$51,451 ($4,288 / month)
Home Facts
Total Finished SqFt4,540 SqFtAbove Grade Finished SqFt4,540 SqFtLot Size6,241 SqFtStyleMulti-Family Res (5+ Units)Year Built1928ZoningLARD1.5CountyLOS ANGELESAPN5055-026-028
Schools near 2666 Orchard Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | 6 to 12 |
Rating | School | Distance |
---|---|---|
Vermont Avenue Elementary School PublicK to 5 | ||
John Adams Middle School Public6 to 8 | ||
Manual Arts Senior High School Public9 to 12 | ||
Alliance Gertz-Ressler Richard Merkin 6-12 Complex Charter6 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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