Excellent cash-flowing Student Housing investment grossing $173,220 in rent annually. Cap rate at a stunning 6.7%. The property is in a prime location for USC student housing located in the USC DPS Safety Patrol zone and walking distance to Ralph's and USC. The front SFR is fully leased to USC students until August 2023 with annual rent increase of 3% in August 2022. The rear ADU was constructed in 2020 and is fully rented to USC students with parental guarantor. All utilities are covered by tenants in both properties and are separately metered. Both units total approximately 4187 square feet of rentable space with an additional 550 square feet of attic loft space that could potentially be converted to a junior ADU by a savvy developer. Front unit has solar panels that are paid in full. Front unit pictures taken in 2019 at the start of the master lease. The properties sit on a huge 8099 sq ft lot that is rare to find in the 90007 zip code and has LARD1.5 zoning and is HPOZ. Buyer to verify all information. Property is fully occupied by students - do not disturb tenants. Disturbing tenants will disqualify buyer. Investment property to be sold As-Is.
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