Victory On Ellendale
Victory On Ellendale
Premium furnished student housing adjacent to USC campus. Los Angeles, CA.
VALUE-ADD | STUDENT HOUSING
Victory On Ellendale
Project Profile
- Investment Type: Student Housing Value-Add
- Units: 24 two-bedroom units, 96 beds
- Purchase Price: $12,450,000
- Project Cost: $16,000,000
- Equity Investment: $4,900,000
Status
Sold
Business Plan
Buy existing Class C, remodel exteriors and interiors into Class A, furnish, operate professionally and get approval to build 10 additional units. Secure increased rents drafting off of newly constructed Class A product.
Investment Highlights
- Location: “A” location within two blocks of campus
- Purchase: Off-market at discount to market value
- Budget: Physical improvements were completed under budget and ahead of schedule.
