1539 W 37th Pl - Apartments FOR SALE


Los Angeles, CA 90018- South Central LA
$3,600,000 USD
562-577-1138
1539 W 37th Pl, Los Angeles, CA for Sale
$3,600,000 USD
Apartments - FOR SALE
1/12
null | 6.65% Cap Rate

1539 W 37th Pl
Los Angeles, CA 90018
South Central LA


HIGHLIGHTS

  • Premier New Construction Built in 2023 Walking Distance to USC Campus, Exposition Park, BMO Stadium, LA Coliseum, and numerous restaurants and shops
  • Priced to Sell, 6.65% CAP Rate on Current Income and 8.01% w/ Market Rent will provide great cash flow Day 1!
  • Turnkey Operation provides a Hassle-Free Investment Opportunity Eliminating the Need for Costly Renovations, can be sold with management in-place
  • Co-Living/Student Housing Investment Opportunity Leased out to Long-term Tenants that always pay on time, with almost 15% Upside in Rental Income
  • Premier construction with new hardwood floors, stainless steel kitchen appliances, glass enclosed showers, quartz counter tops, in-unit washer & dryer
  • 22 Bedrooms All with Private En-Suite Bathrooms Rented Individually to USC Students and Young Professionals

OVERVIEW

We are pleased to offer this Investment Opportunity to acquire a New Construction (2023) Co-Living apartment complex, located in the highly desirable 90018 zip code, and walking distance to the University of Southern California (USC). The investment is priced to sell and will cash flow on Day 1 with a 35% Down Payment. The property features (22) Bedrooms All with Private En-Suite Bathrooms, rented individually on long-term leases. This upscale turnkey premier construction investment features hardwood floors, stainless steel kitchen appliances, quartz counter tops, glass enclosed showers, in-unit washer & dryers, new roof/copper plumbing (less than 2 years old), double pane windows, individually metered for all utilities: gas, electricity, & water and high-end finishes throughout the units. The building is approximately 6,630 rentable square feet on a 6,051 square foot lot, consisting of (1) 13-bedroom + 13-bathroom and (1) 9-bedroom + 9-bathroom units. This asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The property can be acquired with management in place for a true hassle-free turnkey investment. With a current gross income of $25,626/month, there's approximately 15% potential upside in rents, which an investor can achieve closer to about $29,700/month.

FOR SALE DETAILS

PRICE

$3,600,000 USD

PRICE/SF

$575 USD /SF

# OF UNITS

2

PRICE/UNIT

$1,800,000

CAP RATE

6.65%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

6.65% CAP | Motivated Seller-Bring All Offers

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2023

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

5,893 SF

ZONING

R2

APN/PARCEL ID

5041-027-022

ASK ABOUT THIS PROPERTY

James TorresKW CommercialMore Info
562-577-1138

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James TorresKW CommercialMore Info
562-577-1138

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