8
See all 8 photos
$1,650,000
Est. payment /mo
12 Beds
8 Baths
6,251 Sqft Lot
New
2917 Walton Avenue Los Angeles, CA 90007
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV26237153
Bedrooms 12
Lot Size 6,251 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Exceptional opportunity to acquire a 5-unit multi-family investment currently operating as student housing walking distance to USC, delivering an impressive 7.37% current CAP Rate and 10.19 GRM, with projected upside to an 8.89% CAP Rate and 8.79 GRM. Currently occupied entirely by USC students, this property offers investors strong day-one cash flow, significant income growth potential, and a desirable location within the USC Department of Public Safety (DPS) Patrol Zone. The property features a unique configuration consisting of a fourplex and a detached rear cottage, with each unit offering a desirable 3-Bedroom/2-Bath floor plan, providing a total of 19 rentable beds. Encompassing approximately 4,584 building square feet on a 6,200 sq. ft. lot. The real advantage is the student rental model. The property is under the Rent Stabilization Ordinance (RSO), which caps rent increases for tenants who stay. Students move out every year, though, so rents reset to market at each turnover. Most RSO buildings fall further behind market every year, while this one can keep its income in line with market rents. Residents also enjoy off-street parking and an onsite laundry facility, amenities that add convenience and enhance the property's appeal to USC students. This property combines strong current financial performance, an attractive bedroom configuration, and substantial rental upside. With a 7.37% current CAP Rate and the potential to achieve an 8.89% CAP Rate at projected market rents, this is a compelling opportunity for investors seeking high-yield student housing in the USC re
Location
State CA
County Los Angeles
Zoning Assessor
Direction South of Adams Blvd. East of Normandie Ave
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5054035020
Listed by Kristopher German, DRE#01800021 RE/MAX 2000 REALTY
Nearby Locations
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