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2143 Portland Street
Los Angeles, CA 90007
Sold
2143 Portland Street
Los Angeles, CA 90007
Sold
We are pleased to offer the opportunity to acquire this high yield 6.68% Cap turnkey two (2) unit, 12 bedroom + 10 bathroom Student Housing investment opportunity, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The subject property was expertly designed, remodeled, and constructed by the one of the top student housing operators near USC, renowned for their track record of delivering best-in-class off-campus housing and providing tenants with an unparalleled housing experience. The property is approximately 4,761 rentable square feet on a large 7,270 square foot lot and has two (2) separate structures, with a unit mix of a large Single Family Residence comprised of fully renovated and permitted 8 bedrooms + oversized den & 6 bathrooms, as well as an additional brand new construction ADU in the rear consisting of 4 bedrooms and 4 bathrooms. The subject property's front structure was completely updated and remodeled in 2023, and features brand new flooring, brand new plumbing/electrical, updated roof, quartz countertops, stainless steel kitchen appliances, tiled showers with glass enclosures, and new in-unit washer & dryers. The back unit is a brand-new ADU recently constructed and completed in 2023 and features the same high-end finishes as the front unit, essentially delivering a brand new low maintenance structure to any prospective buyer. The investment is 100% occupied with USC students and fully leased for the 2024-2025 school year. 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. Tenants pay for all utilities of the property including Water/Gas/Electric/Trash.
PROPERTY INFORMATION
| MLS # | 24447277 | Lot Size | 7,162 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 2,150,000
Price Per SqFt: $ 452 |
DOM | 216 Days |
| Address | 2143 Portland Street | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 4,761 Sq. Ft. |
| Postal Code | 90007 | Garage | N/A |
| County | Los Angeles | Year Built | 1901 |
| Bed / Bath | 12 / 0 | Parking | 5 |
| Built In | 1901 | Status | Closed |
| Sold Date | 2024-10-02 |
INTERIOR FEATURES
| Has Appliances | Yes |
EXTERIOR FEATURES
WALKSCORE
Walk Score: 90 (Very Walkable)
Transit Score: 81 (Excellent Transit)MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,293
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 10/01/2024 | Pending | $2,150,000 |
| 10/01/2024 | Listed | $2,150,000 |
Topfind Realty
REALTOR®
(844)-333-8033
Questions? Contact today.
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Listing provided courtesy of Adam Shamooelian, Keller Williams Beverly Hills. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
