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, 2022 new construction investment 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, 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-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 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 7.1% Cap Rate & 11.6x GRM.
Property Details
Price:
$3,347,000
MLS #:
25529307
Status:
Active
Baths:
0
Address:
1372 W 35th Place
Type:
Residential Income
Neighborhood:
c34losangelessouthwest
City:
Los Angeles
Listed Date:
Apr 23, 2025
State:
CA
ZIP:
90007
Lot Size:
6,802 sqft / 0.16 acres (approx)
Year Built:
2021
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Schools
Interior
Appliances
Dishwasher, Disposal, Refrigerator
Cooling
Dual
Heating
Central
Exterior
Parking Features
Assigned
Parking Spots
5.00
Stories Total
3
Financial
Map
Community
- Address1372 W 35th Place Los Angeles CA
- AreaC34 – Los Angeles Southwest
- CityLos Angeles
- CountyLos Angeles
- Zip Code90007
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1372 W 35th Place
Los Angeles, CA
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