Marcus & Millichap is pleased to present this turn-key student housing opportunity walking distance from the USC campus. In 2019 the property was completely renovated adding beautiful finishes to the property. The renovations include new hardwood flooring, copper plumbing, complete interior remodels of bathrooms, bedrooms and communal areas along with brand new appliances. Central air and heating was added as well as a securitized exterior perimeter and video surveillance system. The students are able to enjoy the fully furnished bedrooms and communal areas complete with high-end TVs, new washer/dryer, on-site parking, bike storage, and a private patio. The exterior of the property was beautifully landscaped as well. The unit mix consists of (2) 4 Bedroom / 4 Bath units that are master leased to a large student housing company for 3 years with 3% annual increases. The master lease, new copper plumbing and new electrical provide a future owner with minimal landlord responsibilities. Additionally, with the current rent below market, an investor will have the option to lease the bedrooms at a much higher rate after the master lease expires in 3 years.
The property is located 3/4 of a mile to the USC Campus and a mile from the new USC Village. The USC Village is a highly amenitized destination including Target, Trader Joes, Corepower Yoga, Sunlife Organics, Starbucks, and plenty of excellent eateries.
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