1259 W 36th Pl

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Address: 1259 W 36th Pl, Los Angeles, CA 90007, USA

California & West + Apartment Buildings

Created date: January 11, 2025

Date last updated: January 11, 2025

Property Description

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.

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Broker Details

Davis Saadian

Keller Williams Santa Monica (310) 482-2200 MLS ID: C114727

Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$3,995,000
No. of Units:	5
Year Built:	2018
Lot Size:	4,931.00 Sq ft
Opportunity Zone:	No
Price per unit:	$799,000
Property Website	Click Here
Number of Bedrooms:	17
Number of Bathrooms:	0

Address: 1259 W 36th Pl, Los Angeles, CA 90007, USA

Provided by:

Standard Status: Active

MLS Listing Number: 25-477767
ID: 3yd-CLAWCA-25-477767

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