Newly constructed USC student housing development. New construction of 3 detached houses that each offer 6 beds and 3 1/2 baths for student rentals. Each of the 18 beds is projected to lease for a conservative $900 per month, totaling a phenomenal $194,900 projected yearly Gross Income, which after deducting a realistic 30% for expenses, gives you a NOI of $136,080 and a 4.5% cap rate for a newly built project. The units are separately metered for gas and electricity, and tenants are typically responsible for paying all utility expenses. These 3 two-story houses feature top-of-the line amenities for students. Bedrooms have adjacent bathrooms, which is an especially attractive feature for student tenants. All units have a common living area, a shared kitchen and in-unit laundry facility. Additionally, each unit has its own HVAC, and there are six total parking spaces on the property. The property is less than a quarter-mile from USC, within the USC Department of Public Safety (DPS) Patrol and Response Area.
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Data Provided by:
California Regional Multiple Listing Service