2370 Portland St - Apartments FOR SALE


Los Angeles, CA 90007- West Adams
$3,800,000 USD
213-943-1897
2370 Portland St, Los Angeles, CA for Sale
$3,800,000 USD
Apartments - FOR SALE
1/21
null | 5.14% Cap Rate

2370 Portland St
Los Angeles, CA 90007
West Adams


HIGHLIGHTS

  • Located within the USC patrol zone
  • Built in 1990, featuring 75% townhome units and new ADUs, the property is a modern, well-maintained asset
  • Walking distance to USC, cafés, restaurants, and entertainment, and minutes from Downtown LA, the Coliseum, and Exposition Park
  • The 2028 Summer Games are expected to boost LA’s real estate market through infrastructure upgrades and improvements to venues like the LA Coliseum
  • LA’s new RSO rent cap is expected to have minimal impact on USC student housing due to annual turnover and market-rate resets

OVERVIEW

The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale The Portland Place, an 8-unit (6 + 2 ADU) student housing community located at 2370–2372½ Portland Street. The property is situated just north of Adams Boulevard and east of Hoover Street, within the USC Patrol Zone. The location offers walking-distance access to popular cafés, restaurants, and entertainment venues, and is only minutes from the University of Southern California (USC), the Los Angeles Memorial Coliseum, and Exposition Park. Its central position provides residents with convenient access to major employment hubs in Downtown Los Angeles and beyond, supported by nearby public transit and proximity to the I-10 and I-110 Freeways. Situated on an 8,875-square-foot lot, the property offers six three-bedroom townhome style units along with a newly constructed duplex ADU containing two two-bedroom units. Originally built in 1990 and enhanced by the new ADU, the Portland Place presents as a well-maintained, modern student housing community within the sought-after USC Patrol Zone. The property is being offered alongside another student housing community at 1139 West 27th Street (27 West). PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS.

FOR SALE DETAILS

PRICE

$3,800,000 USD

PRICE/SF

$439 USD /SF

# OF UNITS

8

PRICE/UNIT

$475,000

CAP RATE

5.14%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1990

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

LARD1.5

APN/PARCEL ID

5124-011-007

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.