1075 W 39th St - Apartments FOR SALE


Los Angeles, CA 90037- South Central LA
$4,300,000 USD
310-993-7600
1075 W 39th St, Los Angeles, CA for Sale
$4,300,000 USD
Apartments - FOR SALE
1/13
null | 6.17% Cap Rate

1075 W 39th St
Los Angeles, CA 90037
South Central LA


HIGHLIGHTS

  • Excellent unit mix of 24 2-Bedrooms and 4 1-Bedroom Units
  • Large front parking lot with 13 tandem and 12 single spaces (Total of 38)
  • New George Lucas Museum several hundred feet away
  • Going-in Cap Rate of 6.17% | Upside to 10.56%
  • USC adjacent | Potential conversion to student housing.

OVERVIEW

The Mogharebi Group is proud to present for sale, a twenty-eight-unit apartment community located adjacent to the University of Southern California (USC) campus. Constructed in 1959, the property has an excellent unit mix of four one-bedroom/one-bath, and twenty-four two-bedroom/one-bath units. The building totals approximately +/- 16,522 square feet of improvements situated on a +/- 22,178 square foot lot. The property is located just outside the USC Department of Public Safety (DPS) Patrol Zone. Situated at 1075 W. 39th Street, the property is positioned south of Exposition Blvd and just west of Vermont Ave. The Exposition Light Rail line runs along Exposition Boulevard, with a nearby station within walking distance at Exposition Boulevard and Vermont Avenue. The property also benefits from its close proximity to the USC campus, the Lucas Museum of Narrative Art (which is at the end of the block), the Natural History Museum of Los Angeles County, the Los Angeles Memorial Coliseum, and is just a short drive to Downtown Los Angeles. Currently, The Nest Apartment is not leased to students; however, the property presents a compelling opportunity for a new owner to reposition and renovate the asset to capture strong demand for student housing.

FOR SALE DETAILS

PRICE

$4,300,000 USD

PRICE/SF

$260 USD /SF

# OF UNITS

28

PRICE/UNIT

$153,571

CAP RATE

6.17%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Nest Apartments | 85% 2 Bedrooms

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,178 SF

ZONING

LAR3

APN/PARCEL ID

5037-017-021

ASK ABOUT THIS PROPERTY

Peter StraussThe Mogharebi GroupMore Info
310-993-7600

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Peter StraussThe Mogharebi GroupMore Info
310-993-7600

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.