CA > Los Angeles
Los Angeles, CA 90007,1258 W 37th DR
Los Angeles, CA 90007,1258 W 37th DR
Los Angeles, CA 90007,1258 W 37th DR
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Diego Magdaleno

Diego Magdaleno

1Vision Real Estate

+1(714) 681-1222
$2,999,999
Est. payment /mo
7 Beds
7 Baths
4,161 SqFt
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UPDATED:

10/09/2024 07:25 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,161 sqft

Price per Sqft $720

MLS Listing ID 24379147

Bedrooms 7

HOA Y/N No

Year Built 1906

Lot Size 4,321 Sqft

Acres 0.0992

Property Description

Newly constructed 13-bed student housing investment opportunity located two blocks west of the University of Southern California, located within the USC Department of Public Safety 24Hour Patrol Zone. The subject property was designed and built by Tripalink, a leading student housing operator with a proven track record of delivering best-in-class off-campus housing and providing tenants with an unparalleled housing experience through their tech-driven and data oriented operation and development model.The property features a three-story duplex in the front and a free-standing ADU in the rear. The duplex was built in 2022, and theADU was completed in 2024. The front duplex has ten bedrooms spread across both units while the rear ADU has three individualbedrooms with their own private bathrooms.The building was designed with a co-living philosophy and meticulously constructed with operational efficiency and a superior tenantexperience in mind. All bedrooms were designed as co-living private suites and feature a private bathroom in addition to being secured by Smart Locks and Virtual Key Cards, powered by Tripalink's propriety mobile app and tenant portal.All bedrooms and common areas are delivered furnished to residents upon move-in and feature in-unit laundry and expansive kitchens; in addition to tenant-centric amenities such as bi-weekly cleaning of the common areas, WiFi coverage, covered utilities,24/7 maintenance and community events. The subject property is a half-mile walk to the main University Park Campus of USC and less than a mile from USC Village. It alsodown the street from the Expo/Vermont metro rail station, allowing residents an easy commute to Downtown Los Angeles, Mid-City,and the Westside outside of their daily commute to campus.The offering presents a prime opportunity for an investor to acquire a fully recession-proof and passive student housing investment,directly adjacent to one of the leading private universities in the country. The 2022/2024 construction and best-in-class managementalso offer no deferred maintenance and strong in-place income, with a stabilized cash flow at a 5.94% CAP rate and 11.63 GRM oncurrent income.

Location

State CA

County Los Angeles

Area C34 - Los Angeles Southwest

Zoning LARD2

Interior

Heating Wall Furnace

Fireplace No

Exterior

Garage None

Parking Type None

Building

Story 3

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5040013010

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by Neema Ahadian • Marcus & Millichap
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