Description

This exceptional two-story, 20-unit investment property is located between University Avenue and Royal Street, just steps from the USC campus. Situated within the DPS zone in North University Park, it offers unmatched convenience in a high-demand rental area. Each spacious 1-bedroom, 1-bathroom unit ranges from 600 to 700 square feet, and rents average around $2,248/mth. Many units boast hardwood and tile flooring, quartz countertops, and modern appliances, including a dishwasher, refrigerator, stove with oven, microwave, double sink with garbage disposal, ceiling fan, vertical blinds, large windows, air conditioning, and a separate bathtub/toilet area for added privacy. Walk-in closets, mirrored closet doors, and in-unit storage enhance the living experience. The property features on-site laundry facilities, outdoor patio areas, bicycle racks, secure garage storage, a manager's office with a 1/2 bathroom, and beautifully landscaped surroundings with trees, plants, ferns, shrubs, and flowers. A softstory retrofit was completed in 2017, SB721 Inspection/ passed, a cool roof in 2019, copper plumbing in 2005, new concrete stairs in 2019, and RUBS utility billing is being implemented on 70% of the units. There is potential to add additional ADU's and an additional unit. The property offers secured parking with alley access and is a scenic five-minute walk to USC's Trousdale North Entrance via the Hoover Pedestrian Mall. It's also within walking distance of Trader Joe's, restaurants, shops, and entertainment on Figueroa, University Village, and soon-to-be Rawlinson Stadium. This property is an excellent investment opportunity and a perfect long-term portfolio property.