2127 Portland Street, Los Angeles, CA 90007
Local realty services provided by:CENTURY 21 Adams & Barnes
2127 Portland Street,Los Angeles, CA 90007
$1,600,000
- 11 Beds
- 11 Baths
- 3,715 sq. ft.
- Multi-family
- Active
Listed by: benjamin lee
Office: lyon stahl investment real estate, inc.310-425-9838
MLS#:26863481
Source:CRMLS
Price summary
- Price:$1,600,000
- Price per sq. ft.:$430.69
About this home
We are pleased to present 2127 Portland Street, an 11-bed 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 6,152 square foot lot: a large-format 7 bedroom / 7 bathroom main house and a newer townhome-style 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 new-build product without new-construction pricing, and without the deferred maintenance that typically comes with a pre-war USC rental. Seven-bedroom 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 4+4 ADU serves the opposite end of the demand curve: individual students, graduate students, and young professionals who want newer, private, apartment-style 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 $1,600,000, the pricing equates to $145,455 per bed and $430.69 per square foot, meaningfully below replacement cost for comparable new student housing product. Current rents of $8,200 per month on the main house and $5,000 per month on the ADU, plus $1,100 per month in utility income, produce $171,600 of scheduled gross income and $112,103 of net operating income, reflecting a 7.01 CAP and a 9.32 GIM on in-place numbers. USC Village sits less than a mile away and anchors the neighborhood commercially. The $700 million development delivered a Target, a Trader Joe's, and roughly 15 restaurants across 115,000 square feet of ground-floor retail, alongside 2,700 student beds and a 30,000 square foot fitness center. Tenants walk to groceries, dining, banking, and pharmacy without a car. The Harbor Freeway (110) is minutes away with on-ramps at Adams Boulevard, and the Santa Monica Freeway (10) sits just north of the property. The Metro E Line's LATTC/Ortho and Jefferson/USC 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 single-family residence and can be repositioned as a conventional owner-user or luxury single-family rental at any point, with the ADU providing separate income or family housing, so ownership retains the option to exit into the single-family market rather than only the student housing market. Separately, under the One Big Beautiful Bill Act, which permanently restored full first-year expensing for qualifying assets acquired after January 19, 2025, a buyer can pair a cost segregation study with accelerated depreciation to immediately deduct the short-life components of both structures. Given the extent of the recent renovation and the newer rear structure, that allocation is likely to be substantial....
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Home facts
- Year built:2021
- Listing ID #:26863481
- Added:9 day(s) ago
- Updated:August 01, 2026 at 11:04 AM
Rooms and interior
- Bedrooms:11
- Total bathrooms:11
- Kitchen Description:Disposal, Microwave, Refrigerator
- Living area:3,715 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Natural Gas
- Central air:Yes
Structure and exterior
- Year built:2021
- Building area:3,715 sq. ft.
- Lot area:0.14 Acres
- Levels:2 Story
Finances and disclosures
- Price:$1,600,000
- Price per sq. ft.:$430.69
Features and amenities
- Appliances:Disposal
Parking
- Total parking spaces:1
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