1372 W 35Th Place

Los Angeles, CA 90007

$3,625,000

List Price

15

bed Beds

13

shower Baths

5,448 sqft

straighten / sqft

2022

calendar_month Built

Property Description

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, 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 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-bathrom 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 $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 6.45% Cap Rate & 12.6x GRM.

Listing Information

List Price $3,625,000
Status Active
MLS 25477833
Type Residential Income
Year Built 2022
Lot Size 6,802
Structure Size 5,448
Courtesy Of KW Advisors
Listing Agent Davis Saadian DRE#01921748

Interior Features

Total Bedroom
Bedrooms 15
Total Bathroom
Bathrooms 13
Cooling Type
Cooling Type Dual

Exterior Information

Maps

Listing information courtesy of: Davis Saadian, KW Advisors 310-402-8958. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 7th, 2025 at 7:57 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.