1344 W 37th Pl - Apartments FOR SALE


Los Angeles, CA 90007- South Central LA
$3,350,000 USD
347-579-3071
1344 W 37th Pl, Los Angeles, CA for Sale
$3,350,000 USD
Apartments - FOR SALE
1/18
null | 7.23% Cap Rate

1344 W 37th Pl
Los Angeles, CA 90007
South Central LA


HIGHLIGHTS

  • private room
  • student housing
  • private bath
  • near campus
  • USC DPS Patrol Zone

OVERVIEW

The Ben Lee Group is pleased to present 1344 W 37th Pl, a newly 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. Email or Call the Listing Agents for OM and to schedule a tour.

FOR SALE DETAILS

PRICE

$3,350,000 USD

PRICE/SF

$223 USD /SF

# OF UNITS

3

PRICE/UNIT

$1,116,667

CAP RATE

7.23%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1344 W 37th Pl

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2022

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,621 SF

ZONING

LARD2

APN/PARCEL ID

5040-011-008

ASK ABOUT THIS PROPERTY

Ben LeeThe Ben Lee GroupMore Info
347-579-3071

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

Ben LeeThe Ben Lee GroupMore Info
347-579-3071

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