Homes for sale - 1372 W 35th PL, Los Angeles, CA 90007

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Yosef Adde

yosef@adde.la +1(310) 363-7362

$ 3,347,000

Est. payment | -/mo

15 Beds

13 Baths

5,448 SqFt

Save

$ 3,347,000

Est. payment | -/mo

Save

15 Beds

13 Baths

5,448 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,448 sqft

Price per Sqft $614

MLS Listing ID 25529307

Bedrooms 15

HOA Y/N No

Year Built 2021

Lot Size 6,804 Sqft

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, 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.

Location

State CA

County Los Angeles

Area C34 - Los Angeles Southwest

Zoning LARD1.5

Interior

Heating Central

Cooling Dual

Fireplace No

Appliance Dishwasher, Disposal, Refrigerator, Dryer, Washer

Exterior

Parking Features Assigned

Total Parking Spaces 5

Building

Story 3

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5040005026

Special Listing Condition Standard

Listed by Davis Saadian • Keller Williams Hollywood Hills

"Molly's job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(310) 363-7362

yosef@adde.la

Serving the South Bay Los Angeles

1372 W 35th PL Los Angeles, CA 90007