1259 W 36th Pl, Los Angeles CA 90007

$3,995,000

1259 W 36th Pl, Los Angeles, CA 90007

bedrooms

bathrooms

square feet

4,931

Acreage

0.1656

Open Houses

year built

2018

Full Baths

Half Baths

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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
Subdivision	-
County	Los Angeles
Elementary School	-
Middle School	-
High School	-

Driving directions

Open houses

None scheduled.

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MLS number: 25-477767

Listing agent: Davis Saadian

Listing broker: Keller Williams Santa Monica (310) 482-2200

Last update: Tuesday, January 14 2025 at 10:50 p.m. EST

Kotohomes National