1259 36th Place, Los Angeles, CA 90007
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- MLS#: 25477767 ( )
- Street Address: 1259 36th Place
- Viewed: 1
- Price: $3,995,000
- Price sqft: $0
- Waterfront: No
- Year Built: 2018
- Bldg sqft: 0
- Days On Market: 16
- Additional Information
- County: LOS ANGELES
- City: Los Angeles
- Zipcode: 90007
- Provided by: KW Advisors
- Contact: Davis Davis
- DMCA Notice
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DescriptionWe are pleased to offer the opportunity to acquire this brand new construction five (5) unit, 17 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 4,931 rentable square feet on a 7,217 square foot lot, consisting of (3) 3 bedroom + 3 bathroom units, and (2) 4 bedroom + 3 bathroom units. 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 $27,038/month. There's approximately 15% potential upside in rents, which an investor can achieve closer to about $29,000/month. The investment is priced at a current 6.25% Cap Rate & 13.2x GRM.
Property Location and Similar Properties
Features
Appliances
- Dishwasher
- Disposal
- Refrigerator
Architectural Style
- Modern
Building Area Total
- 4931.00
Cooling
- Dual
Country
- US
Flooring
- Wood
Laundry Features
- Washer Included
- Dryer Included
Levels
- Multi/Split
Netoperatingincome
- 249506.00
Parcel Number
- 5040007026
Parking Features
- Gated
Postalcodeplus4
- 3950
Sourcesystemkey
- 25-477767:CLAW
Totalexpenses
- 74950.00
Year Built
- 2018
Year Built Source
- Appraiser
Zoning
- LARD1.5