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$6,500,000
Est. payment /mo
14,593 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 14,593 sqft
Price per Sqft $445
MLS Listing ID CL25522513
HOA Y/N No
Year Built 1964
Lot Size 10,700 Sqft
Acres 0.25
Property Sub-Type Other
Property Description
We are pleased to present 2670 Ellendale Place, a newly renovated 17 Unit / 35 Bedroom student housing investment opportunity located a half mile north of the University of Southern California, within the USC Department of Public Safety 24 Hour Patrol Zone. The property is currently 100% occupied, driven by strong demand for off-campus housing from the 47,000 students currently enrolled at the University of Southern California. Approximately ~60% of all USC students live in off-campus housing, offering new ownership a low vacancy rate tied to one of the nation's top academic institutions. USC continues to rise in academic rankings, setting a record high applications and record low acceptance rate in 2024. 13 of the 17 units are either brand new or fully renovated, presenting a prime opportunity to acquire a recession-proof passive investment, with minimal deferred maintenance and strong in-place cash flow. The remaining 4 units have long term tenants at less than 30% of market rent, offering an investor significant upside potential as these units turn. The subject property is currently being rented by the unit and unfurnished, allowing further rental upside through double occupancy and furnished rentals. The units feature oversized living rooms and bedrooms, with similar 2-bedroo
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Heating None
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 5055013001
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Listed by Neema Ahadian • Marcus & Millichap