We are pleased to offer the opportunity to acquire this seven (7) unit, 16-bedroom, turn-key student housing apartment complex, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The site is situated in the pristine rare North of campus pocket; the best of the best location. The property and all seven (7) units were completely updated & remodeled in 2022 - featuring brand new hardwood floors, stainless steel kitchen appliances, quartz counter tops, tiled showers with glass enclosures, in-unit washer & dryers, and high-end finishes throughout the units. The investment features a new roof, updated copper plumbing, double pane windows, and individually metered for gas & electricity. The building is approximately 4,520 rentable square feet on a 6,241 square foot lot, consisting of (4) 3-bedroom + 2-bathroom units, (2) 1-bedroom + 1-bathroom units, and (1) 2-bedroom + 1-bathroom unit. 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. The investment is 100% occupied with USC students, and fully leased for the 2024-2025 year, with a gross income of $23,235/month. There's approximately 15% potential upside in rents, which an investor can achieve closer to about $27,000/month. The expansive lot size allows an investor to add even more value to the property by constructing a 3-bedroom + 3-bathroom ADU to further increase cash-flow (about $4,500/month), generating an even higher yield/ net income. Completed project will gross approximately $31,500/Month - $378,000/Year.
This property is $3.2M more than the Median Sold Price and $290/SqFt more than other homes in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24434421
Listing Office:
Office Name: KW Advisors
Office Phone: (310) 482-2200
Listing Agent: Davis Saadian
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 11/23/2024, 10:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Nov 06, 2019
Nov 06, 2019Home Sold
$2,100,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$25,923
$2,122,236
2020
$2,448
$2,100,000
2019
$2,325
$123,812
2018
$2,248
$121,386
2017
$2,248
$119,007
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
6
/10
Vermont Avenue Elementary
1435 W 27th St
Distance between this listing and this school0.32 miles
Public District Grades KG-5
3
/10
John W. Mack Elementary
3020 S Catalina St
Distance between this listing and this school0.46 miles
Public District Grades KG-5
5
/10
Norwood Street Elementary School
2020 Oak St
Distance between this listing and this school0.56 miles
Public District Grades KG-5
Nearby Schools
4
/10
Downtown Value
950 W Washington Blvd
Distance between this listing and this school0.63 miles
Public Charter Grades KG-8
4
/10
Camino Nuevo Elementary #3
1723 Cordova St
Distance between this listing and this school0.75 miles
Public Charter Grades KG-8
6
/10
John Adams Middle School
151 W 30th St
Distance between this listing and this school1.03 miles
Public District Grades 6-8
Nearby Schools
6
/10
Alliance Gertz-Ressler Richard Merkin 6-12 Complex
2023 S Union Ave
Distance between this listing and this school0.46 miles
Public Charter Grades 6-12
8
/10
Thirty-Second Street Usc Performing Arts
822 W 32nd St
Distance between this listing and this school0.51 miles
Public District Grades KG-12
3
/10
West Adams Preparatory High School
1500 W Washington Blvd
Distance between this listing and this school0.63 miles
The neighbors living near this home have an average income of $12,659. Most Los Angeles, CA residents have annual incomes less than $35k. Residents typically live in single, no kids family. Most residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 2666 Orchard Ave
What is the listing price of this property?
The listing price of 2666 Orchard Ave property is $4,225,000.
What type of property is this?
The property 2666 Orchard Ave is a house located in Los Angeles, California, 90007.
Is this property for sale now?
Active Listing: 2666 Orchard Ave is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $25,923 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on November 6, 2019 for $2,100,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 2666 Orchard Ave has 16 bedrooms and 11 bathrooms.
What is the square footage of this property?
The property 2666 Orchard Ave is 4,540 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 2666 Orchard Ave is 1928.
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This home is located at 2666 Orchard Ave in Los Angeles, CA and zip code 90007 in the University Park neighborhood. This 4,540 square foot home, which was built in 1928, sits on a 0.14 acre lot. Features: 16 bedrooms, 11 bathrooms. It has been listed on Rocket Homes since September 02, 2024 and is currently priced at $4,225,000.
Over 598 listings were sold over their listed price in October 2024 in Los Angeles, CA. In the same period over 753 listings were sold below the listed price and 191 listings were sold for the listed price. The inventory of homes for sale in Los Angeles, CA between September 2024 and October 2024 increased by 11.2%. In October 2024 median list price was $1,023,474 and the average listing age was 38 days.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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