2666 Orchard Avenue

Los Angeles, CA 90007

$4,225,000
Price
16
Beds
11
Baths
4,540 Sq. Ft.
$931 / Sq. Ft.
4,540
Sq. Ft.
$931
per Sq. Ft.

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.
  1. Listed by Davis Saadian • DRE #01921748 • Brokerage DRE #01854200 • KW Advisors

Property Details for 2666 Orchard Avenue

Zoning
LARD1.5
Parcel Number
5055026028
Total Units
7.0
Living Area
4540
Source Living Area
Vendor Enhanced
Area
Mid Los Angeles (C16)
Vacancy Rate
0%
Lot Size Area
6242
LISTING UPDATED: 09/10/2024 12:01 AM

Property Details for 2666 Orchard Avenue

StatusActive
MLS #24-434421
Days on Market79
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1928
Lot Size0.14 AC / 6,242 SF
CountyLos 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

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $278,820
  • Net Operating Income: $215,061.00
  • Gross Income: $278,820
  • Cap Rate: 5.10%
  • Gross Rent Multiplier: $14.50
  • Total Annual Expense: 63759
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1433
  • Lot Size Square Feet: 6242
Parking Details
Parking Details
  • Parking Garage: Other, Private
  • Total Parking: 5
  • Parking Features: Private
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Freezer, Garbage Disposal, Range/Oven, Refrigerator, Dryer, Dishwasher, Other, Washer
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 09-02-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,900.00
  • Unit Actual Rent: $2,900.00
  • Unit Projected Rent: $3,100.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,500.00
  • Unit Actual Rent: $3,500.00
  • Unit Projected Rent: $5,000.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $4,900.00
  • Unit Actual Rent: $4,900.00
  • Unit Projected Rent: $5,000.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $4,400.00
  • Unit Actual Rent: $4,400.00
  • Unit Projected Rent: $5,000.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,900.00
  • Unit Actual Rent: $3,900.00
  • Unit Projected Rent: $5,000.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,730.00
  • Unit Actual Rent: $1,730.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,730.00
  • Unit Actual Rent: $1,730.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 3
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $4,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,060,800.00
  • Assessed Improvement Percent: 25.74
  • Assessed Land Value: $3,060,000.00
  • Assessed Land Percent: 74.26
  • Assessed Total Value: $4,120,800.00

Property History for 2666 Orchard Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

2666 Orchard Avenue is a multi-family home for sale in Los Angeles, CA 90007. This property was listed for sale on September 2, 2024 by KW Advisors, it's currently listed at $4,225,000. It has been on the market for a total of 79 days and was last sold on December 21, 2021. This listing's school district is Los Angeles Unified School District. Nearby schools include Vermont Avenue Elementary School, John Adams Middle School and Manual Arts Senior High School. 2666 Orchard Avenue is a 16-bed, 11-bath, 4,540 sqft multi-family home built in 1928.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of KW Advisors, Davis Saadian, DRE #01921748

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.