1256 West Adams Boulevard

Los Angeles, CA 90007

$3,995,000
Price
15
Beds
13
Baths
5,103 Sq. Ft.
$783 / Sq. Ft.
5,103
Sq. Ft.
$783
per Sq. Ft.

Description

We are pleased to offer the opportunity to acquire this turnkey Student Housing Portfolio consisting of two (2) brand new construction homes(2020) + one (1) fully remodeled house. Each house has its own APN, and is 100% occupied with USC students, 1-year lease agreements, and also parent guaranteed. 1256 W. Adams Blvd. is comprised of an updated and fully remodeled 9-bedroom + 7-bathroom house. This three story beauty offers classic wood floors, a huge living room and dining area, perfect for communal...We are pleased to offer the opportunity to acquire this turnkey Student Housing Portfolio consisting of two (2) brand new construction homes(2020) + one (1) fully remodeled house. Each house has its own APN, and is 100% occupied with USC students, 1-year lease agreements, and also parent guaranteed. 1256 W. Adams Blvd. is comprised of an updated and fully remodeled 9-bedroom + 7-bathroom house. This three story beauty offers classic wood floors, a huge living room and dining area, perfect for communal living and gatherings. The house features quartz counter tops, stainless steel appliances, large flat screen TV's, washer & dryer, an outdoor common area with a barbecue grill and hot tub. 1258 & 1260 W. Adams Blvd. are newly constructed in 2020(non-rent control) and consist of two spacious 3-bedroom + 3-bathroom houses. Amenities include washer & dryer, stainless steel kitchen appliances, air conditioning, tiled showers with glass enclosures, wall-mounted flat screen televisions and USB charging ports. In addition, there is a Value-Add Opportunity to convert the garages into 1-bedroom units (Buyer to Verify). The investment is well positioned, located in the DPS Patrol Zone, and walking distance to the USC campus & Village. Expenses are extremely light as the tenants pay for all water, trash, gas, and electricity. This investment presents an excellent opportunity for an investor to acquire a unique premier student housing portfolio in the attractive USC submarket that will provide exponential returns. The growth of the student base continues to outpace the growth of housing and will provide continuous demand for quality housing in premium locations. 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 continued excellent operating fundamentals.
  1. Listed by Adam Shamooelian • DRE #02116849 • Brokerage DRE #01425795 • Keller Williams Beverly Hills

Property Details for 1256 West Adams Boulevard

Zoning
LAR4
Parcel Number
5055014031
Total Units
3.0
Living Area
5103
Source Living Area
Developer
Area
Mid Los Angeles (C16)
Vacancy Rate
0
Lot Size Area
6726

Location

Listing Courtesy of Keller Williams Beverly Hills, Adam Shamooelian, DRE #02116849
Add your commute
LISTING UPDATED: 05/09/2024 12:01 AM

Property Details for 1256 West Adams Boulevard

StatusActive
MLS #24-386689
Days on Market23
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2020
Lot Size0.15 AC / 6,726 SF
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams Beverly Hills, Adam Shamooelian, DRE #02116849
Add your commute

Building Information for 1256 West Adams Boulevard

Stories3Residences-Year Built2020Building Size-Lot Size0.15 AC / 6,726 SF

Payment Calculator

$23,240 per month

30 year fixed, 7.25% Interest

Principal and Interest

$21,802

Property Taxes

$1,438

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1256 West Adams Boulevard

Community / Development
Community / Development
  • Number Of Units: 3
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Builder
  • Number Of Stories: 3
  • Number Of Buildings: 3
  • Type Of Units: Income
Contract Info
Contract Info
  • Disclosures: Other
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $307,980
  • Net Operating Income: $245,989.00
  • Gross Income: $307,980
  • Cap Rate: 6.16%
  • Gross Rent Multiplier: $12.97
  • Total Annual Expense: 61991
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.0918
  • Lot Size Square Feet: 6726
  • Lot Size Dimensions: 54x135
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Other
  • Total Parking: 6
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 05-01-2024
Unit Details
Unit 1 Information
  • Unit Beds: 9
  • Unit Baths: 7
  • Unit Furnished: No
  • Unit Rent: $15,165.00
  • Unit Actual Rent: $15,165.00
  • Unit Projected Rent: $16,250.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $5,250.00
  • Unit Actual Rent: $5,250.00
  • Unit Projected Rent: $5,750.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $5,250.00
  • Unit Actual Rent: $5,250.00
  • Unit Projected Rent: $5,750.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $428,400.00
  • Assessed Improvement Percent: 30.0
  • Assessed Land Value: $999,600.00
  • Assessed Land Percent: 70
  • Assessed Total Value: $1,428,000.00

Property History for 1256 West Adams Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1256 West Adams Boulevard

Taxable ValueLand$999,600Additions$428,400Total$1,428,000
Tax Record2023$17,253 ($1,438 / month)
Home Facts
Beds0Lot Size3,996 SqFtStyleSingle Family ResidenceZoningLAR4CountyLOS ANGELESAPN5055-014-031

Schools near 1256 West Adams Boulevard

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.

1256 West Adams Boulevard is a multi-family home for sale in Los Angeles, CA 90007. This property was listed for sale on May 1, 2024 by Keller Williams Beverly Hills, it's currently listed at $3,995,000. It has been on the market for a total of 23 days and was last sold on October 20, 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. 1256 West Adams Boulevard is a 15-bed, 13-bath, 5,103 sqft multi-family home built in 2020.

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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Beverly Hills, Adam Shamooelian, DRE #02116849

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.