Jerry Wise Acquires USC Student Housing Multifamily For $28.5M With Broker Davis Saadian & Aaron Kirman

A portfolio of USC student housing properties has been sold for a total of $28,500,000. The multifamily assets included in the sale are located at addresses 1175 W 29th St., 2832 Menlo Ave., 1358 West 29th St., 1360 West 29th St., 1329 West 29th St., 1137 West 29th St., 1175 West 29th St., 1163 West 29th St., 1151 West 29th St., 1481-1483 West 25th St., 1179 West 29th St., and 1535 West 30th St. These properties offer a total of 125 units, resulting in a purchase price per unit (PPU) of $228,000. The total square footage for the portfolio is 35,000, with a price per square foot (PPSF) of $814.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $28,500,000
• Units: 125
• PPU: $228,000
• Total Square Footage: 35,000
• PPSF: $814

The buyer of these properties is Jerry Wise, while the seller is Taeko Lei. The deal was facilitated by brokers Davis Saadian and Aaron Kirman from the Davis Saadian Group (DSG) and DSG x AKG. These brokers represented their respective clients throughout the transaction, ensuring a successful sale.