1372 W 35Th Place, Los Angeles, CA 90007
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Listed Price :
$3,625,000
-
Beds :
15
-
Baths :
13
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Property Size :
5,448 sqft
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Year Built :
2022
Property Description
We are pleased to offer the opportunity to acquire this brand new construction five (5) unit, 15-bedroom, student housing apartment complex, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). This turnkey, new construction investment features brand new fully furnished bedrooms, brand new hardwood floors, stainless steel kitchen appliances, quartz counter tops, tiled showers with glass enclosures, in-unit washer & dryers, and high-end finishes throughout the units. The investment features a new roof, new copper plumbing, double pane windows, and individually metered for all utilities: gas, electricity, & water. The building is approximately 5,448 rentable square feet on a 6,800 square foot lot, consisting of (2) 3-bedroom + 3-bathroom units, (2) 4-bedroom + 3-bathroom units, and (1) 1-bedroom + 1-bathrom unit. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The investment is 100% occupied with USC students, and fully leased for the 2024-2025 year, with a gross income of $25,348/month. There's approximately 15% potential upside in rents, which an investor can achieve closer to about $27,000/month. The investment is priced at a current 6.45% Cap Rate & 12.6x GRM.
Interior Features
| Bedroom Information |
| Bedrooms |
15 |
| Bathroom Information |
| Bathrooms |
13 |
| Interior Information |
| Cooling Type |
Dual |
Listing Information
| Address |
1372 W 35Th Place |
| City |
Los Angeles |
| State |
CA |
| Zip |
90007 |
| County |
Los Angeles |
| Listing Agent |
Davis Saadian DRE #01921748 |
| Courtesy Of |
KW Advisors |
| List Price |
$3,625,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
5,448 |
| Lot Size |
6,802 |
| Year Built |
2022 |
Listing information courtesy of: Davis Saadian, KW Advisors. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 7th, 2025 at 7:57 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
