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1372 35th Place, Los Angeles, CA 90007
Priced at Only: $3,625,000
For more Information Call Mobile: 714.478.6676
Address: 1372 35th Place, Los Angeles, CA 90007
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  • MLS#: 25477833 ( )
  • Street Address: 1372 35th Place
  • Viewed: 1
  • Price: $3,625,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 2022
  • Bldg sqft: 0
  • Days On Market: 224
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90007
  • Provided by: KW Advisors
  • Contact: Davis Davis
  • California Regional MLS IDX
  • DMCA Notice
  • 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.
Features
Appliances
  1. Dishwasher
  2. Disposal
  3. Refrigerator
Architectural Style
  1. Modern
Building Area Total
  1. 5448.00
Cooling
  1. Dual
Country
  1. US
Laundry Features
  1. Washer Included
  2. Dryer Included
Levels
  1. Multi/Split
Netoperatingincome
  1. 233834.00
Parcel Number
  1. 5040005026
Parking Features
  1. Gated
Postalcodeplus4
  1. 3404
Security Features
  1. Gated Community
Sourcesystemkey
  1. 25-477833:CLAW
Totalexpenses
  1. 70342.00
Year Built
  1. 2022
Year Built Source
  1. Appraiser
Zoning
  1. LARD1.5
Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Mobile: 714.478.6676
  5. Fax: 714.975.9953
  6. salesbyxavier@gmail.com
Request More Information
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