2143 Portland St, Los Angeles, CA 90007
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2143 Portland St Los Angeles, CA 90007

$2,390,000
  • 12 Beds
  • 10 Baths
  • 4,761 Sq.Ft.
For Sale
$2,390,000 Get Pre-Qualified

Map preview of 2143 Portland St, Los Angeles, CA 90007

Property Overview: 2143 Portland St Los Angeles, CA has 12 bedrooms, 10 bathrooms, 4,761 living square feet and 7,162 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are pleased to offer the opportunity to acquire this high yield 7.31% Cap turnkey two (2) unit, 12 bedroom + 10 bathroom Student Housing investment opportunity, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The subject property was expertly designed, remodeled, and constructed by the one of the top student housing operators near USC, renowned for their track record of delivering best-in-class off-campus housing and providing tenants with an unparalleled housing experience. The property is approximately 4,761 rentable square feet on a large 7,270 square foot lot and has two (2) separate structures, with a unit mix of a large Single Family Residence comprised of fully renovated and permitted 8 bedrooms + oversized den & 6 bathrooms, as well as an additional brand new construction ADU in the rear consisting of 4 bedrooms and 4 bathrooms. The subject property's front structure was completely updated and remodeled in 2023, and features brand new flooring, brand new plumbing/electrical, updated roof, quartz countertops, stainless steel kitchen appliances, tiled showers with glass enclosures, and new in-unit washer & dryers. The back unit is a brand-new ADU recently constructed and completed in 2023 and features the same high-end finishes as the front unit, essentially delivering a brand new low maintenance structure to any prospective buyer. The investment is 100% occupied with USC students and fully leased for the 2023-2024 academic school year as well as pre-leased for the 2024-2025 school year(Rent will increase from $15,795 monthly to $17,499 monthly starting August 2024). Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. Tenants pay for all utilities of the property including Water/Gas/Electric/Trash.

Listed by Adam Shamooelian | BRE #02116849 | Keller Williams Beverly Hills
Last checked: 2 minutes ago | Last updated: April 30th, 2024 | Source CRMLS | DOM: 77
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Home details

Lot Sq. Ft
7,162
HOA Dues
$0/mo
Year built
1901
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24382397
City
Los Angeles
County
Los Angeles
Time on Site
83 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 2
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 4
  • Furnishing: Unfurnished
  • Actual Rent: $5,500
  • Total Rent: $5,500
  • Pro Forma/Market Rent: $5,750
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 8
  • # of Baths: 6
  • Furnishing: Unfurnished
  • Actual Rent: $11,999
  • Total Rent: $11,999
  • Pro Forma/Market Rent: $13,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 7.31%
  • Gross Rent Multiplier: 11.38
  • Gross Scheduled Income: --
  • Net Operating Income: $174,626
  • Gross Operating Income: $209,988
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 2143 Portland St

Interior Features
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 5
  • Has Parking
Lot Information
  • Lot Size Source: Other
Property Information
  • Total # of Units: 2
  • Parcel Number: 5124014014
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: 2143-2145 Portland St, 90007
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Sale History for 2143 Portland St

Last sold for $158,000 on October 8th, 1997
  • April, 2024

  • Apr 22, 2024

    Date

    Active

    CRMLS: 24382397

    $2,390,000

    Price

  • April, 2024

  • Apr 19, 2024

    Date

    Canceled

    CRMLS: 24343499

    $2,490,000

    Price

  • Jan 8, 2024

    Date

    Active

    CRMLS: 24343499

    $2,490,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to offer the opportunity to acquire this high yield 6.96% Cap turnkey two (2) unit, 12 bedroom + 10 bathroom Student Housing investment opportunity, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The subject property was expertly designed, remodeled, and constructed by the one of the top student housing operators near USC, renowned for their track record of delivering best-in-class off-campus housing and providing tenants with an unparalleled housing experience. The property is approximately 4,761 rentable square feet on a large 7,270 square foot lot and has two (2) separate structures, with a unit mix of a large Single Family Residence comprised of fully renovated and permitted 8 bedrooms + oversized den & 6 bathrooms, as well as an additional brand new construction ADU in the rear consisting of 4 bedrooms and 4 bathrooms. The subject property's front structure was completely updated and remodeled in 2023, and features brand new flooring, brand new plumbing/electrical, updated roof, quartz countertops, stainless steel kitchen appliances, tiled showers with glass enclosures, and new in-unit washer & dryers. The back unit is a brand-new ADU recently constructed and completed in 2023 and features the same high-end finishes as the front unit, essentially delivering a brand new low maintenance structure to any prospective buyer. The investment is 100% occupied with USC students and fully leased for the 2023-2024 academic school year as well as pre-leased for the 2024-2025 school year(Rent will increase from $15,795 monthly to $17,499 monthly starting August 2024). Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. Tenants pay for all utilities of the property including Water/Gas/Electric/Trash.

  • January, 2024

  • Jan 3, 2024

    Date

    Canceled

    CRMLS: 23292297

    $2,490,000

    Price

  • Jul 19, 2023

    Date

    Active

    CRMLS: 23292297

    $2,490,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to offer the opportunity to acquire this high yield 6.95% Cap turnkey two (2) unit, 12 bedroom + 10 bathroom Student Housing investment opportunity, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The subject property was expertly designed, remodeled, and constructed by the one of the top student housing operators near USC, renowned for their track record of delivering best-in-class off-campus housing and providing tenants with an unparalleled housing experience. The property is approximately 4,761 rentable square feet on a large 7,270 square foot lot and has two (2) separate structures, with a unit mix of a large Single Family Residence comprised of fully renovated and permitted 8 bedrooms & 6 bathrooms, as well as an additional brand new construction ADU in the rear consisting of 4 bedrooms and 4 bathrooms. The subject property's front structure was completely updated and remodeled in 2023, and features brand new flooring, brand new plumbing/electrical, updated roof, quartz countertops, stainless steel kitchen appliances, tiled showers with glass enclosures, and new in-unit washer & dryers. The back unit is a brand-new ADU recently constructed and completed in 2023 and features the same high-end finishes as the front unit, essentially delivering a brand new low maintenance structure to any prospective buyer. The investment is 100% occupied with USC students and fully leased for the 2023-2024 academic school year(Rent will increase from $15,795 monthly to $17,499 monthly starting August 2024). Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. Tenants pay for all utilities of the property including Water/Gas/Electric/Trash.

  • October, 1997

  • Oct 8, 1997

    Date

    Sold (Public Records)

    Public Records

    $158,000

    Price

  • March, 1997

  • Mar 12, 1997

    Date

    Sold (Public Records)

    Public Records

    $198,774

    Price

Show More

Tax History for 2143 Portland St

Assessed Value (2020): $408,791
Year Land Value Improved Value Assessed Value
2020 $262,796 $145,995 $408,791

Home Value Compared to the Market

This property vs the competition

2143 Portland St is listed 99.17% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $773 and this home is listed at $502 per/sqft which puts the price per square foot 35.06% lower than the median price per square foot for the city of Los Angeles.

About 2143 Portland St

Detailed summary of property

2143 Portland St is a multi family located in Los Angeles, CA 90007 and is currently for sale. This multi family property offers 12 bedrooms, 10 bathrooms, roughly 4,761 living square feet, and sits on an approximately 7,162 square foot lot. 2143 Portland St was first listed on ArdentRealEstateGroup.com on April 22, 2024. The homeowner is currently asking $2,390,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $773. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 99.17% higher than the median priced home. Local competing homes currently for sale include 1327 W 35th St, 2720 Brighton Ave and 1038 Dewey Ave. While the average home in Los Angeles, CA is selling in 101 days, 2143 Portland St has a days on market of 77 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2723 of them are single family homes while 1208 of them are condos and 114 are townhomes. For more information on this home for sale at 2143 Portland St Los Angeles, CA 90007 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2143 Portland St

Public county record property details
Beds
6
Baths
2
Year built
1901
Sq. Ft.
3,844
Lot Size
7,269
Stories
--
Type
Single Family Residential
Pool
No
Spa
No
County
Los Angeles
Lot#
63,64
APN
5124-014-014

The source for these homes facts are from public records.

90007 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,399,999
Median List Price/Sq.Ft.
$550
Median Sold Price
$525,000
Median Sold Price/Sq.Ft.
$589
Total Inventory
15
Median Sale to List Price %
102.94%
Avg Days on Market
55
Loan Type
Conventional (50%), FHA (0%), VA (0%), Cash (50%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.