The Best Location for Value-add USC off Campus Student Housing investment opportunity, only 2 Blocks away to University of Southern California (USC), located in highly Desirable USC DPS Safety Patrol Zone. 100% Fully occupied by USC students with parental guarantees on leases, and front house 6B3B pre-leased for the upcoming 2025-2026 school year with USC students as well. Currently collecting gross rents of $15,050/month, cap rate around 6.6%, GRM12.98. Highly demanding…easy access to all USC’s landmarks, academic buildings, and entertainment options. Zoning LARD1.5. The subject property is composed of two separate structures (1238 W. 35th St. and 3554-3556 S Budlong Ave) and consists of 3 spacious units, with a unit mix consisting of (1) 6-bedroom + 3-bathroom unit of total rent $7850/month, and (2) 3-bedroom + 1-bathroom units of total rent $7200/month. The property has been recently fully updated/ remodeled – featuring laminated/wood floors, Newly painted, Updated kitchen with stainless steel kitchen appliances, lots of updated cabinets, pantry and counter tops, copper plumbing throughout ( buyer verify). The investment boasts spacious floor plans, secured gated entry, and on-site laundry. The property is approximately 3450 s.f., 7094 s.f. lot, 12 bed, 5 bath, living rooms, and on-site laundry room…This property has charming turn of the century details that you will adore. As a bonus, this Property offers 10 Private on-site Parking Spaces which the students loved so much, and 3 individually metered for gas and electricity and 2 individual water meters. The asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The property is collecting gross rents of $15,050/month. Don’t miss!
Property Details
Price:
$2,345,000
MLS #:
AR25049725
Status:
Active
Baths:
0
Address:
1238 W 35th Street
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
c34losangelessouthwest
City:
Los Angeles
Listed Date:
Mar 6, 2025
State:
CA
ZIP:
90007
Lot Size:
7,094 sqft / 0.16 acres (approx)
Year Built:
1908
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Schools
Interior
Cooling
Central Air, Wall/ Window Unit(s)
Heating
Central
Exterior
Community Features
Sidewalks
Garage Spaces
0.00
Lot Features
Lot 6500-9999
Parking Features
Auto Driveway Gate, Private
Parking Spots
10.00
Pool Features
None
Sewer
Unknown
Stories Total
2
Water Source
Other
Financial
Association Fee
0.00
Map
Community
- Address1238 W 35th Street Los Angeles CA
- AreaC34 – Los Angeles Southwest
- CityLos Angeles
- CountyLos Angeles
- Zip Code90007
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1238 W 35th Street
Los Angeles, CA
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