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1256 W Adams Boulevard, Los Angeles, California 90007, Los Angeles, 90007 - bed, bath

1256 W Adams Boulevard, Los Angeles, California 90007 home-pic-0
ACTIVE$3,850,000
1256 W Adams Boulevard, Los Angeles, California 90007
0Bed
0Bath
5,103Sqft
6,446Lot
Year Built
2022
Close
-
List price
$3.85M
Original List price
$3.85M
Price/Sqft
$754
HOA
-
Days on market
-
Sold On
-
MLS number
PW25003449
Home ConditionExcellent
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $3.85M(80th), sqft - 5103(60th), beds - undefined(50th), baths - undefined(50th).

We are pleased to present 1256 W Adams Blvd, a turnkey stabilized student housing asset located 0.5 miles from the University of Southern California in the North University Park submarket that is most desirable for USC students. The property consists of 3 units and 15 bedrooms - one fully renovated 9 Bed 7 Bath House and two 2022 Construction 3 Bed/3 Bath Units with 4 ground-level enclosed parking spaces. The property is fully leased to USC students for a total monthly rent of $25,414. Offered for $3,850,000 at $256,667 per bedroom and a true 5.86% CAP Rate 1256 W Adams is one of the most competitively priced assets on the market. The property is professionally managed by one of the largest student housing operators in the USC market and the management company is willing to stay in place with a new buyer after close of escrow. The property is fully occupied and already fully pre-leased for the 2024-2025 academic year allowing a new buyer optimally easy management upon ownership. Each Unit is Individually Parceled enabling a buyer to creatively structure the transaction if desired.

Nearby schools

5/10
Vermont Avenue Elementary School
Public,•K-5•0.3mi
2/10
John W. Mack Elementary School
Public,•K-5•0.5mi
4/10
Norwood Street Elementary School
Public,•K-5•0.6mi
3/10
Lenicia B. Weemes Elementary School
Public,•K-5•0.9mi
5/10
Menlo Avenue Elementary School
Public,•K-5•1.7mi
4/10
John Adams Middle School
Public,•6-8•1.1mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.2mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•2.5mi
4/10
West Adams Preparatory High School
Public,•9-12•0.5mi
5/10
Foshay Learning Center
Public,•K-12•1.4mi
3/10
Manual Arts Senior High School
Public,•9-12•1.7mi

Price History

Date
Event
Price
10/18/21
Sold
$3,850,000
04/03/15
Sold
$1,215,000
06/21/96
Sold
$151,000
Condition Rating
Excellent
This property was built in 2022, with two units being new construction and one unit fully renovated. The images confirm modern, high-quality finishes throughout, including contemporary kitchens with stainless steel appliances, sleek cabinetry, and updated bathrooms with modern fixtures and tiling. All components appear new or virtually new, meeting current quality standards with no deferred maintenance, aligning perfectly with the 'Excellent' condition criteria.
Pros & Cons

Pros

Prime Student Housing Location: Strategically located just 0.5 miles from the University of Southern California in a highly desirable submarket, ensuring consistent high demand from USC students.
Turnkey & Stabilized Investment: The property is fully leased to USC students, professionally managed, and already pre-leased for the 2024-2025 academic year, offering immediate and hassle-free income for a new owner.
Strong Financial Performance: Boasts an attractive 5.86% CAP Rate and a substantial total monthly rent of $25,414, indicating a robust return on investment for an income-generating asset.
Modern & Well-Maintained Property: Comprises two units built in 2022 and one fully renovated house, minimizing immediate capital expenditures and appealing to modern student tenants.
Flexible Ownership Structure: Each unit is individually parceled, providing strategic flexibility for future financing options or potential individual unit sales.

Cons

Niche Market Dependency: The property's income stream is heavily reliant on the USC student housing market, making it susceptible to changes in university policies, enrollment fluctuations, or local student housing supply.
High Price Point & Per-Bedroom Cost: The $3,850,000 list price and $256,667 per bedroom are substantial, potentially limiting the pool of prospective buyers and requiring significant capital investment.
Potential for Higher Turnover Costs: Student housing typically experiences higher annual tenant turnover compared to traditional rentals, which, despite current pre-leasing, can lead to recurring costs for marketing, leasing, and unit refreshes between academic years.

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