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Elite Real Estate Group
info@elitereg805.com$910,000
Est. payment /mo
5 Beds
4 Baths
1,140 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 1,140 sqft
Price per Sqft $798
MLS Listing ID 26834543
Bedrooms 5
HOA Y/N No
Year Built 1905
Lot Size 3,123 Sqft
Property Description
We are pleased to present the opportunity to acquire 3109 S. Catalina Street, a fully renovated 5-bedroom + 4-bathroom student housing investment located in the highly coveted West of Campus neighborhood within the USC DPS Patrol Zone. Just blocks from the University of Southern California, the property sits in one of the strongest student housing rental markets in Los Angeles, consistently achieving premium rents, full occupancy, and year-round tenant demand. Currently occupied by USC students, the property generates $6,500 per month in gross income. Backed by a proven operational history, parental guarantees, and strong in-place cash flow, the asset delivers immediate yield and stable income from day one. The offering consists of a beautifully restored 1905 Craftsman single family residence, totaling approximately 1,140 rentable square feet on a 3,125 square foot lot. The property has undergone extensive renovations with modern, high-end finishes throughout, including hardwood flooring, updated countertops, stainless steel appliances, tiled showers with glass enclosures, in-unit washers and dryers, furnished bedrooms, fully updated kitchens and bathrooms, recessed lighting, and contemporary fixtures. In addition to strong in-place cash flow, the property presents a significant value-add opportunity through the construction of an ADU at the rear of the lot. With ample remaining lot area and favorable zoning for ADU development, an incoming investor has a clear path to meaningfully increase gross income, boost overall yield, and enhance long-term property value, mirroring the proven ADU model already thriving throughout the USC student housing submarket. Operating costs are minimal, as tenants are responsible for all utilities; gas, water, trash, and electricity, allowing ownership to retain a larger share of gross income as NOI. Priced at a 7% cap rate and 11.6x GRM, the property delivers both stabilized cash flow and a clear roadmap for future growth through ADU development, making it an attractive long-term hold in a supply-constrained pocket of Los Angeles.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR2
Interior
Fireplace No
Appliance Refrigerator, Dryer, Washer
Laundry Inside
Exterior
Parking Features Gated
Total Parking Spaces 5
Building
Story 2
Entry Level Two
Architectural Style Craftsman
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5040025010
Special Listing Condition Standard
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Listed by Davis Saadian Keller Williams Hollywood Hills #01921748
Nearby Schools & Businesses
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Elite Real Estate Group
Team