1259 36th Place, Los Angeles, CA 90007
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- MLS#: 25477875 ( )
- Street Address: 1259 36th Place
- Viewed: 3
- Price: $11,545,000
- Price sqft: $0
- Waterfront: No
- Year Built: 2022
- Bldg sqft: 0
- Days On Market: 15
- 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 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.
Property Location and Similar Properties
Features
Appliances
- Dishwasher
- Disposal
- Refrigerator
Architectural Style
- Modern
Building Area Total
- 15903.00
Cooling
- Dual
Country
- US
Flooring
- Wood
Laundry Features
- Washer Included
- Dryer Included
Levels
- Multi/Split
Netoperatingincome
- 728782.00
Parcel Number
- UNAVAILABLE
Parking Features
- Gated
Security Features
- Gated Community
Sourcesystemkey
- 25-477875:CLAW
Totalexpenses
- 216302.00
Year Built
- 2022
Year Built Source
- Appraiser
Zoning
- LARD1.5