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18 photos
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$3,250,000
Est. payment /mo
18 Beds
18 Baths
5,740 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,740 sqft
Price per Sqft $566
MLS Listing ID 26656429
Bedrooms 18
HOA Y/N No
Year Built 2021
Lot Size 6,603 Sqft
Property Description
PRICE IMPROVED. Property to be delivered with a Master Lease contract in place. Please contact the listing agents for more details. We are pleased to present 1344 W 37th Pl, a premier 2021-constructed student housing investment opportunity located just west of USC within the university's 24-hour DPS patrol zone. Purpose-built to capture the robust demand from USC's 46,000+ students, 65% of whom live off-campus, the property offers three units each with 6 bedrooms and 6 bathrooms. Each unit features high-end finishes, quartz countertops, stainless steel appliances, central HVAC, and in-unit laundry, and individually metered for all utilities: gas, electricity, & water. Each unit has only two floors and offers spacious open layouts, designed to promote maximum comfort for the students. The property is ideally situated within walking distance to University Park and near the Expo/Vermont Metro Station providing easy access to Downtown Los Angeles, Mid-City, and the Westside. 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 fully occupied by USC students and offers a strong 7.23% current cap rate and 9.71 GIM with a monthly scheduled gross income of $28,764, allowing investors to maximize returns in one of Los Angeles' most stable rental submarkets. In addition to its strong fundamentals, the property qualifies for 100% bonus depreciation, creating a unique opportunity for investors to maximize early tax benefits through cost segregation. This combination of modern construction, durable student demand, and excellent operating fundamentals makes 1344 W 37th Pl ideal for any HNW individual or family office seeking a combination of yield, tax shelter, and long-term appreciations.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Zoning LARD2
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance Dishwasher, Disposal, Microwave, Refrigerator, Dryer, Washer
Exterior
Parking Features Uncovered
Community Features Gated
Total Parking Spaces 6
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction Yes
Others
Senior Community No
Tax ID 5040011008
Security Features Carbon Monoxide Detector(s),Fire Detection System,Gated Community,Resident Manager,Smoke Detector(s)
Special Listing Condition Standard
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Listed by Benjamin Lee Lyon Stahl Investment Real Estate, Inc. #02123715
Nearby Locations
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