2640 S La Salle is a 7,200 square foot lot 5 minutes from USC that will be delivered with RTI plans for an impressive, beautifully designed fourplex. Made up of two 1,798 square foot 5 bed, 5 bath units and two 1,632 square foot 4 bed, 3 bath units, this fourplex is designed to accommodate USC students. Upon completion of this project, we project an exit price of $2,700,000, which is based on a conservative cap rate of 6.07% and price per square foot of $393.59. The nearest new construction fourplex comps are transacting at an average of $496 per square foot. In regards to rental prices, we estimate very conservatively $4,800 for each 5 bedroom and $4,000 for each 4 bedroom. Another notable feature is that this lot has an ALLEY, making for 8 parking spaces accessed from the back of the property.
In terms of location, S La Salle is a very clean, wide street made up of many lovely historic homes. With its close proximity to USC (5 minutes) and Koreatown (7 minutes), we feel strongly that tenants will flock to these units, which will in turn lead to buyers coming in strong! Listed by Elizabeth Maddox, The 2 4 Unit Specialists.