Description

The Shamooelian Real Estate Group is pleased to offer the opportunity to acquire this high yield 7.65% Cap furnished three (3) unit, 12 bedroom + 5.5 bathroom house + two (2) studio Student Housing investment opportunity, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The property is approximately 4,725 rentable square feet on an oversized 10,324 square foot lot. The property has two (2) separate structures, with a unit mix of a large Single Family Residence comprised of fully permitted 12 bedrooms & 5.5 bathrooms. As well as an additional structure in the rear consisting of 2 studio units (1 studio non-conforming). The main house was remodeled in 2019, with brand new flooring, updated electrical, and an in-unit washer & dryer. The two studio units have recently been completed 2021, featuring brand new kitchenettes & appliances in addition to being fully furnished. The investment is 100% occupied with USC students and fully leased for the 2022-2023 academic school year. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk lease investment that is poised for continued growth and excellent operating fundamentals. The property is currently grossing $19,950 per month with the tenants paying for all utilities of the property including Water/Gas/Electric. In addition, this property has the benefit of substantially reduced property taxes as the property is under the Mill’s Act (current owner paying $9,001 annually in property tax).