Deal numbers
A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.
Property details
- Bedrooms
- 2
- Building size
- 2,443 sqft
- Lot size
- 5,895 sqft
- Year built
- 1901
- Stories
- 1
- Status
- Active
- Days on market
- 8
- MLS #
- 247595557
About this property
Welcome to 1420-1422 W. 22nd Street, a turnkey student housing investment located within the USC DPS Patrol Zone, just minutes from the University of Southern California (USC). The property consists of a substantially renovated front residence and a newly constructed rear ADU, offering a total of 10 bedrooms, 7 bathrooms, and a strong 8.31% cap rate. Six on-site parking spaces, a rare offering in the area, provide a significant leasing advantage and added appeal for student renters. The front residence at 1420 W. 22nd Street has undergone extensive permitted improvements, including updated plumbing, electrical systems, and fully permitted bathroom renovations, and is configured as a 5-bedroom, 4-bathroom residence. Complementing the property is the newly constructed rear residence at 1422 W. 22nd Street, completed in 2024 and thoughtfully designed as a 5-bedroom, 3-bathroom ADU featuring modern construction, high-quality finishes, and minimal future capital expenditure. The entire exterior was also upgraded in 2024 with new hardscape and paving, creating an attractive, low-maintenance environment that enhances both curb appeal and tenant appeal. The property's efficient layout, modern improvements, and proximity to USC make it well suited for rent-by-the-room student housing, offering immediate cash flow in one of Los Angeles' strongest rental markets. Conveniently located near USC, USC Village, Exposition Park, and the Metro E Line, the property benefits from exceptional student housing demand driven by its walkable location and close proximity to campus. Buyer to verify all permits, square footage, and property information to their own satisfaction.
Location
1420 W 22nd Street
Los Angeles, Los Angeles, CA, 90007