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We are pleased to offer the opportunity to acquire two (2) single-family residences, consisting of 12 bedrooms which can fit up to 19 beds. It is located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC).The two restored Craftsman homes were completely updated & remodeled in 2015 - featuring polished hardwood floors, stainless steel kitchen appliances, granite counter tops, and in-unit washer & dryers. Both properties have updated copper plumbing, electrical systems, roofs, and central HVAC.The structures were built in 1913, constructed of wood frame and stucco on a raised foundation, with a total square footage of 4,100 SF, on a 6,905 SF lot, zoned LARD1.5. The buildings have been reinforced and upgraded in compliancewith the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of one (1) 8-bedroom + 6-bathroom SFR, and one (1) 4-bedroom + 2-bathroom SFR. The bedrooms are spacious and furnished with beds, armoires, desks, mini-fridges, and individual thermostat controls. Combined with parental guarantees on some 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 young working professionals, and fully leased for the 2024 - 2025 year, with a gross income of $13,600/month. There's approximately 20% potential upside in rents, which an investor can achieve closer to about $17,400/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 (buyer to verify). Currently priced at a 6.75% Cap Rate excellent cash-flow investment opportunity.
Property Type(s):
Residential Income
| Last Updated | 10/15/2024 | Year Built | 1913 |
|---|---|---|---|
| Community | Los Angeles Southwest | County | Los Angeles |
Additional Details
| APPLIANCES | Dishwasher, Dryer, Refrigerator, Washer |
|---|---|
| AREA | Los Angeles Southwest |
| GARAGE | Assigned, Private |
| LOT | 6907 sq ft |
| PARKING | Assigned,Private |
| STORIES | 3 |
| ZONING | LARD1.5 |
Location
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Listed with KW Advisors
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. 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. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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