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1026 W 22nd St

Los Angeles CA 90007

19
18
12315 sq. ft.
6211 sq. ft.
Other
Currently for sale - view listing

Overview

We are pleased to offer the opportunity to acquire this eighteen (18) unit value-add student housing investment, located in the desirable DPS Patrol Zone and walking distance to the University of Southern California (USC). The property is approximately 12,315 rentable square feet on a 6,211 square foot lot, with a unit mix consisting of nine (9) studio units, eight (8) 1-bedroom + 1-bathroom units, and one (1) converted 2-bedroom + 1-bathroom unit. The property cash flows at $24,754/month, a current 5.5% Cap Rate & 13.45x Gross Rent Multiplier (GRM). The investment allows a new owner the opportunity to implement interior renovations, update/remodel the units, and achieve top market rents. There's almost 50% potential upside in rental income. The property offers residents a highly desirable location, within the DPS Patrol Zone, and walking distance to campus and University Village - providing easy access to all of USC's landmarks, academic buildings, and entertainment options.

Features

19 bedrooms
18 bathrooms
12315 sq. ft. floor area
6211 sq. ft. lot size
Other

Property history for 1026 W 22nd St

2022
Sold
$3,600,000
31 Mar 2022 by Amanda Robertson, of Amanda Robertson
2013
Sold
$462,906
01 Apr 2013

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