1259 1/2 W 36th PL new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90007
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 15,903 sqft
Price per Sqft $725
MLS Listing ID 25477875
Bedrooms 47
HOA Y/N No
Year Built 2022
Lot Size 0.574 Acres
Property Description
We are pleased to offer the opportunity to acquire this 47-bedroom + 43-bathroom USC Student Housing Portfolio, consisting of three (3) brand new construction Apartment Complexes, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). This turnkey, new construction portfolio features 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 portfolio consists of (10) 3-bedroom + 3-bathroom units, and (4) 4-bedroom + 3-bathroom units, and (1) 1-bedroom + 1-bathroom 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 $78,757/month. There's approximately 15% potential upside in rents, which an investor can achieve closer to about $84,000/month. The Portfolio investment is priced at a current blended 6.35% Cap Rate & 13x GRM. The Portfolio consists of the following address: 1259 W. 36th Place, 1231 W. 36th Place, & 1370 W. 35th Place, Los Angeles, CA 90007. Please email for the Executive Summary and additional information.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Zoning LARD1.5
Interior
Cooling Dual
Flooring Wood
Fireplace No
Appliance Dishwasher,Disposal,Refrigerator,Dryer,Washer
Exterior
Parking Features Gated
Community Features Gated
Total Parking Spaces 15
Building
Story 3
Entry Level Multi/Split
Architectural Style Modern
Level or Stories Multi/Split
New Construction Yes
Others
Senior Community No
Tax ID UNAVAILABLE
Security Features Gated Community
Special Listing Condition Standard