$3,148,888
1259 W 36th Pl, Los Angeles, CA 90007
- 15Beds
- 15Baths
- 4931SqFt
- 15Beds
- 15Baths
- 4931SqFt
- Property TypeCondo
- Year Built2018
- Price per Sqft$639
- On highrises10 Days
Property Details
We are pleased to offer the opportunity to acquire this 2018 construction, five (5) unit, 15-bedroom + 15-bathroom 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 vinyl plank 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 (5) 3-bedroom + 3-bathroom units. Units are spacious with beautiful layouts. 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, with a gross income of $24,937/month. There's approximately 15% potential upside in rents, which an investor can achieve closer to about $28,000/month. The investment is priced at a current 7.5% Cap Rate & 10.5x GRM. Please email for the Financial Analysis/ Executive Summary.
Property Features
Bedrooms
- Bedrooms: 15
Property History
Neighborhood
Environmental Risk
- Presented by:
- Davis Saadian
- state license#01921748
