1259 W 36th Pl new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90007
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,931 sqft
Price per Sqft $810
MLS Listing ID 25-477767
Style Modern
Bedrooms 17
Year Built 2018
Lot Size 7,217 Sqft
Acres 0.1656
Property Description
We 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.
Location
State CA
County Los Angeles
Area Los Angeles Southwest
Zoning LARD1.5
Rooms
Other Rooms Other
Interior
Heating Other
Cooling Dual, Other
Flooring Hardwood
Equipment Freezer, Alarm System, Range/Oven, Recirculated Exhaust Fan, Refrigerator, Washer, Other, Dryer, Dishwasher, Garbage Disposal
Laundry In Unit
Exterior
Parking Features Gated, Other
Garage Spaces 5.0
Building
Story 3
Architectural Style Modern
Level or Stories Multi/Split
Others
Special Listing Condition Standard