2755 Raymond Ave Los Angeles, CA 90007

We are pleased to offer the opportunity to acquire this value-add three (3) unit Student Housing/Multi-Family investment on 2755 Raymond Ave, located in the DPS patrol zone, and close proximity to the University of Southern California (USC). The investment consists of one (1) large apartment building on an oversized corner 10,602 sqft lot. The property features a unit mix of one (1) 3 bedroom + 1 bathroom unit, as well as two (2) 2 bedroom + 1 bathroom units. Additionally, one of the 2 bedroom units is vacant, affording any buyer the ability to renovate the unit and select their own tenant. The investment also allows the opportunity to further increase cash flow by adding multiple Accessory Dwelling units (ADU's- Buyer to Verify) in the rear of the structure. This property boasts remarkable redevelopment potential across its expansive 10,602 sqft lot. Benefiting from LARD2 zoning ordinance and an additional TOC Tier 1 density bonus, the site presents a unique opportunity to develop. The generous lot size not only provides ample space but also positions this opportunity to leverage city incentives, potentially facilitating the construction of affordable housing, a vision aligned with community needs. Notably, while situated in a historical zone, the property has been deemed a non-contributor, offering flexibility for future endeavors. (*Buyer to verify all details pertaining to zoning and development potential). Given the location, attractive local area amenities, and opportunity to drastically increase rental income via development as well as tenant turnover, this investment presents an excellent opportunity for an investor to acquire a desirable apartment building in the attractive USC submarket with strong value add upside.