2127 Portland Street

We are pleased to present 2127 Portland Street an 11bed USC student housing asset located less than one mile from USC Village and within the USC Department of Public Safety patrol zone The offering consists of two separate structures on a 6152 square foot lot a largeformat 7 bedroom 7 bathroom main house and a newer townhomestyle 4 bedroom 4 bathroom ADU at the rear The main house was taken down to the studs and fully renovated with new mechanical electrical and plumbing systems behind a classic North University Park facade The rear ADU is newer construction built to current code A buyer acquires renovated and newbuild product without newconstruction pricing and without the deferred maintenance that typically comes with a prewar USC rental Sevenbedroom floor plans are scarce in the USC submarket and draw stronger rents from fraternities sororities athletic teams and returning friend groups that need a full house under one lease The 44 ADU serves the opposite end of the demand curve individual students graduate students and young professionals who want newer private apartmentstyle living Ownership can lease the property one group at a time by the bed or both and can adjust that strategy every leasing season without a capital event At 1600000 the pricing equates to 145455 per bed and 43069 per square foot meaningfully below replacement cost for comparable new student housing product Current rents of 8200 per month on the main house and 5000 per month on the ADU plus 1100 per month in utility income produce 171600 of scheduled gross income and 112103 of net operating income reflecting a 701 CAP and a 932 GIM on inplace numbers USC Village sits less than a mile away and anchors the neighborhood commercially The 700 million development delivered a Target a Trader Joes and roughly 15 restaurants across 115000 square feet of groundfloor retail alongside 2700 student beds and a 30000 square foot fitness center Tenants walk to groceries dining banking and pharmacy without a car The Harbor Freeway 110 is minutes away with onramps at Adams Boulevard and the Santa Monica Freeway 10 sits just north of the property The Metro E Lines LATTCOrtho and JeffersonUSC stations serve North University Park with trains every 8 to 10 minutes during the day putting Downtown employment centers roughly three miles north within reach of graduate students medical residents and recent graduates The main house is a legal singlefamily residence and can be repositioned as a conventional owneruser or luxury singlefamily rental at any point with the ADU providing separate income or family housing so ownership retains the option to exit into the singlefamily market rather than only the student housing market Separately under the One Big Beautiful Bill Act which permanently restored full firstyear expensing for qualifying assets acquired after January 19 2025 a buyer can pair a cost segregation study with accelerated depreciation to immediately deduct the shortlife components of both structures Given the extent of the recent renovation and the newer rear structure that allocation is likely to be substantial