1258 W 37th Dr - Apartments FOR SALE


Los Angeles, CA 90007- Koreatown
$2,999,999 USD
310-909-5406
1258 W 37th Dr, Los Angeles, CA for Sale
$2,999,999 USD
Apartments - FOR SALE
1/30
null | 5.94% Cap Rate

1258 W 37th Dr
Los Angeles, CA 90007
Koreatown


HIGHLIGHTS

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OVERVIEW

The Neema Group of Marcus & Millichap is pleased to present 1258 W 37th Dr, a 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 24 Hour 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 the ADU was completed in 2024. The front duplex has ten bedrooms spread across both units while the rear ADU has three individual bedrooms with their own private bathrooms. The building was designed with a co-living philosophy and meticulously constructed with operational efficiency and a superior tenant experience 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 also down 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 management also offer no deferred maintenance and strong in-place income, with a stabilized cash flow at a 5.94% CAP rate and 11.63 GRM on current income.

FOR SALE DETAILS

PRICE

$2,999,999 USD

PRICE/SF

$400 USD /SF

# OF UNITS

3

PRICE/UNIT

$1,000,000

CAP RATE

5.94%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

USC Student Housing

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2022

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,240 SF

ZONING

-

APN/PARCEL ID

5040-013-010

ASK ABOUT THIS PROPERTY

Patricia EscobarMarcus & MillichapMore Info
310-909-5406

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Patricia EscobarMarcus & MillichapMore Info
310-909-5406

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