Project Description

Victory On Ellendale

champion real estate

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.
champion real eastate