This North University Park 18 unit apartment building is located within the USC patrol zone and shuttle service. It is a blend of 50% USC student housing and 50% standard rentals. There is stabilized income yet incredible upside potential through rental appreciation, enhanced student housing strategy, expense efficiencies and additional pass throughs and intelligent building capex improvements to minimize maintenance and repairs over time. This is a master metered building and relies on street parking. Nine singles and nine 1+1 units, all with high ceilings and historical charm. 15 of 18units have been fully or partially renovated. A new roof was installed in 2016, security cameras throughout, new electric wiring and main panel, common areas updated in2013, retrofitted in 2013 and generally well maintained. Laundry is leased on a shared revenue month to month agreement and benefits from a new credit card payment system which is producing month over month income increases. Unit 19 enjoys unobstructed views of Downtown LA and is newly vacant ready for strategic repositioning. There is a small cellular tower on the roof owned/operated by Crown Castle. The cell tower includes additional income potential (50% to C.C. 50% to property owner) for any future rooftop rent generated by C.C.

Listed By CRMLS_CA / Amanda Robertson / Amanda Robertson

Last checked: Checking… • Last updated Aug 14, 2023 • Source: CRMLS_CA

MLS# 22118141 — Report a problem