2143 Portland Street
2143 Portland Street
$2,390,000
12
10
4,761
4,761
$502
Description
We are pleased to offer the opportunity to acquire this high yield 7.31% 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...We are pleased to offer the opportunity to acquire this high yield 7.31% 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 2023-2024 academic school year as well as pre-leased for the 2024-2025 school year(Rent will increase from $15,795 monthly to $17,499 monthly starting August 2024). 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.
- Listed by Adam Shamooelian • DRE #02116849 • Brokerage DRE #01425795 • Keller Williams Beverly Hills
Property Details for 2143 Portland Street
Zoning
LARD1.5
Parcel Number5124014014
Total Units2.0
Living Area4761
Source Living AreaBuilder
AreaDowntown L.A. (C42)
Vacancy Rate0
Lot Size Area7162
Location
LISTING UPDATED: 04/30/2024 12:01 AM
Property Details for 2143 Portland Street
Status | Active |
---|---|
MLS # | 24-382397 |
Days on Market | 29 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1901 |
Lot Size | 0.16 AC / 7,162 SF |
County | Los Angeles County |
Location
Building Information for 2143 Portland Street
Stories2Residences-Year Built1901Building Size-Lot Size0.16 AC / 7,162 SF
Payment Calculator
$14,571 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 2143 Portland Street
Property History for 2143 Portland 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 2143 Portland Street
Taxable ValueLand$1,117,206Additions$361,794Total$1,479,000
Tax Record2023$18,335 ($1,528 / month)
Home Facts
Beds6Total Finished SqFt3,844 SqFtAbove Grade Finished SqFt3,844 SqFtStories2Lot Size7,270 SqFtStyleSingle Family ResidenceYear Built1901ZoningLARD1.5CountyLOS ANGELESAPN5124-014-014
Schools near 2143 Portland 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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