Newly built 5 units USC student housing development. Each newly constructed unit offers 6 beds for student rentals. Each bedroom has a private ensuite bathroom, an especially attractive feature for student tenants. Each of the 30 beds monthly projected rent is $825. There are a total of 9 onsite parking spaces generating $12,300 annually. Total annual rents ($297,000) and parking fees ($12,300) add up to a phenomenal $309,300 in yearly Gross Income, which after deducting expenses of $56,550, gives you a NOI of $252,750 and a 5.8% cap rate for a newly built project. The units are separately metered for water, electricity, and gas, and tenants are responsible for paying all utility expenses. These newly built units feature top-of-the line amenities for students with brand new appliances (refrigerators, ranges, microwaves, dishwashers, washers & dryers), and each unit has its own HVAC. Each unit has a living area, dining area, kitchen and in-unit laundry facility. The property is walking distance to campus, less than half-mile from USC, and within the USC Department of Public Safety (DPS) Patrol and Response Area.