3117 Raymond Avenue

    Los Angeles (City), CA 90007
    • $4,350,000
    • STATUS: Active
    • ON SITE: 80 days
    • ID#: RS19226680
    UPDATED: 152 min ago
    $4,350,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,037
      SQFT
    • $618
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2019
    County:

    School Ratings & Info

    Description

    Newly built & leased 5 units USC student housing development. Each newly constructed unit offers 6 beds for student rentals. Eachbedroom has a private ensuite bathroom, an especially attractive feature for student tenants. Each of the 30 beds monthlyrent is $825. There are a total of 9 onsite parking spaces to generate $12,300 annually. Total annual rents($297,000) and parking fees ($12,300) add up to a phenomenal $309,300 in yearly Gross Income, which after deductingexpenses of $56,550, gives you a NOI of $252,750 and a 5.8% cap rate for a newly built project. The units are separatelymetered for water, electricity, and gas, and tenants are responsible for paying all utility expenses. These newly built units featuretop-of-the line amenities for students with brand new appliances (refrigerators, ranges, microwaves, dishwashers, washers &dryers), and each unit has its own HVAC. Each unit has a living area, dining area, kitchen and in-unit laundry facility. Theproperty is walking distance to campus, less than half-mile from USC, and within the USC Department of Public Safety (DPS)Patrol and Response Area.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-12-14T00:30:49.4. This information 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. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Z Team OC Real Estate | Keller Williams Realty. Licensed in the State of California, USA.

    www.homefinderorangecounty.com/homes/99273143

    3117 Raymond Avenue Los Angeles (City), CA 90007

    • Price: $4,350,000
    • Status: Active
    • Updated: 152 min ago
    • ID#: RS19226680
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    7,037
    SQFT
    $618
    $/SQFT
    2019
    Built
    Neighborhood:
    C16 - Mid Los Angeles
    County:
    Los Angeles
    Area:
    C16 - Mid Los Angeles
    Property Description
    Newly built & leased 5 units USC student housing development. Each newly constructed unit offers 6 beds for student rentals. Eachbedroom has a private ensuite bathroom, an especially attractive feature for student tenants. Each of the 30 beds monthlyrent is $825. There are a total of 9 onsite parking spaces to generate $12,300 annually. Total annual rents($297,000) and parking fees ($12,300) add up to a phenomenal $309,300 in yearly Gross Income, which after deductingexpenses of $56,550, gives you a NOI of $252,750 and a 5.8% cap rate for a newly built project. The units are separatelymetered for water, electricity, and gas, and tenants are responsible for paying all utility expenses. These newly built units featuretop-of-the line amenities for students with brand new appliances (refrigerators, ranges, microwaves, dishwashers, washers &dryers), and each unit has its own HVAC. Each unit has a living area, dining area, kitchen and in-unit laundry facility. Theproperty is walking distance to campus, less than half-mile from USC, and within the USC Department of Public Safety (DPS)Patrol and Response Area.
    Exterior Features

    Garage Spaces 5.00 Lot Features 0-1 Unit/AcreSprinklers In Front Lot Size Source Assessor Lot Size Units Square Feet Parking Total 9.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Appliances DishwasherDisposalGas RangeMicrowaveRange HoodRefrigeratorWater Heater Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Central Air Cooling YN Yes Heating Central Heating YN Yes Laundry Features Dryer IncludedGas Dryer HookupIn ClosetInsideWasher HookupWasher Included

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 5.80 Community Features BikingCurbsSidewalksStreet LightsUrban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gardener Expense 1200.00 Gross Income 309300.00 Gross Multiplier 14.00 Gross Scheduled Income 309300.00 Insurance Expense 1500.00 Land Lease YN No Laundry YN Yes Maintenance Expense 6000.00 Net Operating Income 252750.00 New Construction YN Yes New Taxes Expense 47850.00 Number Of Separate Electric Meters 6 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 6 Number Of Units Leased 4 Number With Dishwasher 5 Number With Disposal 5 Number With Range 5 Number With Refrigerator 5 Operating Expense 56550.00 Other Income1 12300.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays All UtilitiesCable TvElectricityTrash CollectionWater Total Actual Rent 195600.00 Total Expenses 56550.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Seller Zoning Lar3

    Listing provided courtesy of Luis Guevara of Keller Williams Huntington Beach


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-12-14T00:30:49.4. This information 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. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Z Team OC Real Estate | Keller Williams Realty. Licensed in the State of California, USA.

     
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