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1372 W 35th Place
USD 3,347,000
Property ID: 25529307
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1372 W 35th Place ,90007
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icon 6802 SqFt
icon Built in 2021
icon USD 492/SqFt
icon 15 Beds
icon 13 Full
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Location
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Interior Details
Bedrooms
15
Bathrooms
13
Interior Size
5448
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 2021
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Detailed Introduction Of This Home
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, 2022 new construction investment features 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, 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-bathroom 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 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 7.1% Cap Rate & 11.6x GRM.
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Contact Development/Agent
Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
icon
Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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1372 W 35th Place
USD 3,347,000 15 Beds
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