1334 West 22nd Street
1334 West 22nd Street
$1,760,000
8
9
2,600
2,600
$677
Sold 4/11/23
Description
We are pleased to offer the opportunity to acquire this turnkey two (2) unit, eight (8) bedroom + nine (9) bathroom Student Housing Master Lease investment opportunity, located in the DPS Patrol Zone, and close proximity to the University of Southern California (USC). The property is approximately 3,000 rentable square feet on a 5,878 square foot lot and is comprised of two (2) separate structures. The subject property's front structure was completely updated and remodeled in 2021-2022, and features...We are pleased to offer the opportunity to acquire this turnkey two (2) unit, eight (8) bedroom + nine (9) bathroom Student Housing Master Lease investment opportunity, located in the DPS Patrol Zone, and close proximity to the University of Southern California (USC). The property is approximately 3,000 rentable square feet on a 5,878 square foot lot and is comprised of two (2) separate structures. The subject property's front structure was completely updated and remodeled in 2021-2022, and features brand new hardwood floors, updated plumbing, quartz counter-tops, 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 2022 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 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 master lease investment that is poised for continued growth and excellent operating fundamentals. The property is currently master leased to a reputable Property Management company until July 31, 2025, and currently making $126,000 per year with annual 3% rent increases. With the Master lease in place, there are minimal landlord responsibilities similar to that of a Triple-Net Investment making this the perfect investment for an investor looking to cash flow and be hands off. The owner only pays for taxes, insurance, and major capital expenditures with everything else being taken care of by the Management company.
- Listed by Adam Shamooelian • DRE #02116849 • Brokerage DRE #01425795 • Keller Williams Beverly Hills
Property Details for 1334 West 22nd Street
Zoning
LARD2
Parcel Number5055018022
Total Units2.0
Living Area2600
Source Living AreaOwner
AreaMid Los Angeles (C16)
Vacancy Rate0
Lot Size Area5878
Location
LISTING UPDATED: 04/11/2023 11:12 AM
Property Details for 1334 West 22nd Street
Status | Sold |
---|---|
MLS # | 22-197359 |
Days on Market | 215 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1901 |
Lot Size | 0.13 AC / 5,878 SF |
County | Los Angeles County |
Location
Building Information for 1334 West 22nd Street
Stories2Residences-Year Built1901Building Size-Lot Size0.13 AC / 5,878 SF
Payment Calculator
$10,642 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1334 West 22nd Street
Property History for 1334 West 22nd Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1334 West 22nd Street
Taxable ValueLand$597,068Additions$404,580Total$1,001,648
Tax Record2023$12,444 ($1,037 / month)
Home Facts
Beds4Total Finished SqFt2,646 SqFtAbove Grade Finished SqFt2,646 SqFtStories1Lot Size5,878 SqFtStyleSingle Family ResidenceYear Built1901ZoningLARD2CountyLOS ANGELESAPN5055-018-022
Schools near 1334 West 22nd Street
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 |
---|---|---|
Norwood Street Elementary School PublicK to 5 | ||
John Adams Middle School Public6 to 8 | ||
West Adams Preparatory High School Public9 to 12 | ||
Alliance Gertz-Ressler Richard Merkin 6-12 Complex Charter6 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.
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