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2370 Portland St 8 Unit Apartment Building $3,800,000 ($475,000/Unit) 5.14% Cap Rate Los Angeles, CA 90007
INVESTMENT HIGHLIGHTS
- Located within the USC patrol zone
- Walking distance to USC, cafés, restaurants, and entertainment, and minutes from Downtown LA, the Coliseum, and Exposition Park
- LA’s new RSO rent cap is expected to have minimal impact on USC student housing due to annual turnover and market-rate resets
- Built in 1990, featuring 75% townhome units and new ADUs, the property is a modern, well-maintained asset
- The 2028 Summer Games are expected to boost LA’s real estate market through infrastructure upgrades and improvements to venues like the LA Coliseum
EXECUTIVE SUMMARY
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale The Portland Place, an 8-unit (6 + 2 ADU) student housing community located at 2370–2372½ Portland Street. The property is situated just north of Adams Boulevard and east of Hoover Street, within the USC Patrol Zone.
The location offers walking-distance access to popular cafés, restaurants, and entertainment venues, and is only minutes from the University of Southern California (USC), the Los Angeles Memorial Coliseum, and Exposition Park. Its central position provides residents with convenient access to major employment hubs in Downtown Los Angeles and beyond, supported by nearby public transit and proximity to the I-10 and I-110 Freeways.
Situated on an 8,875-square-foot lot, the property offers six three-bedroom townhome style units along with a newly constructed duplex ADU containing two two-bedroom units.
Originally built in 1990 and enhanced by the new ADU, the Portland Place presents as a well-maintained, modern student housing community within the sought-after USC Patrol Zone.
The property is being offered alongside another student housing community at 1139 West 27th Street (27 West).
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS.
The location offers walking-distance access to popular cafés, restaurants, and entertainment venues, and is only minutes from the University of Southern California (USC), the Los Angeles Memorial Coliseum, and Exposition Park. Its central position provides residents with convenient access to major employment hubs in Downtown Los Angeles and beyond, supported by nearby public transit and proximity to the I-10 and I-110 Freeways.
Situated on an 8,875-square-foot lot, the property offers six three-bedroom townhome style units along with a newly constructed duplex ADU containing two two-bedroom units.
Originally built in 1990 and enhanced by the new ADU, the Portland Place presents as a well-maintained, modern student housing community within the sought-after USC Patrol Zone.
The property is being offered alongside another student housing community at 1139 West 27th Street (27 West).
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $3,800,000 | Apartment Style | Townhome |
| Price Per Unit | $475,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 5.14% | Building Size | 8,662 SF |
| Gross Rent Multiplier | 10.98 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1990/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.39/1,000 SF |
| Zoning | LARD1.5 | ||
| Price | $3,800,000 |
| Price Per Unit | $475,000 |
| Sale Type | Investment |
| Cap Rate | 5.14% |
| Gross Rent Multiplier | 10.98 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.20 AC |
| Building Size | 8,662 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1990/2024 |
| Parking Ratio | 1.39/1,000 SF |
| Zoning | LARD1.5 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 2 | - | 690 |
| 3+2.5 | 6 | - | 1,192 |
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Walk Score®
Walker's Paradise (91)
Transit Score®
Excellent Transit (77)
Bike Score®
Biker's Paradise (97)
PROPERTY TAXES
| Parcel Number | 5124-011-007 | Improvements Assessment | $1,248,148 |
| Land Assessment | $2,892,312 | Total Assessment | $4,140,460 |
PROPERTY TAXES
Parcel Number
5124-011-007
Land Assessment
$2,892,312
Improvements Assessment
$1,248,148
Total Assessment
$4,140,460
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2370 Portland St
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