Premium furnished student housing adjacent to USC campus. Los Angeles, CA.
VALUE-ADD | STUDENT HOUSING
Victory On Ellendale
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
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.
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.