1258 W 37th Dr, Los Angeles, CA 90007 – 24-379147

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$2,999,999

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7 BD

7 BA

4,161 SqFt

Price Dropped by $100K

1258 W 37th Dr Los Angeles, CA 90007

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Enrique Arce Cervera

enriquearcerealty@gmail.com +1(702) 601-3668

UPDATED:

10/09/2024 07:10 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,161 sqft

Price per Sqft $720

MLS Listing ID 24-379147

Bedrooms 7

Year Built 1906

Lot Size 4,319 Sqft

Acres 0.0992

Property Description

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 24Hour 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 theADU was completed in 2024. The front duplex has ten bedrooms spread across both units while the rear ADU has three individualbedrooms with their own private bathrooms.The building was designed with a co-living philosophy and meticulously constructed with operational efficiency and a superior tenantexperience 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 alsodown 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 managementalso offer no deferred maintenance and strong in-place income, with a stabilized cash flow at a 5.94% CAP rate and 11.63 GRM oncurrent income.

Location

State CA

County Los Angeles

Area Los Angeles Southwest

Zoning LARD2

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Wall Unit(s)

Equipment None

Exterior

Parking Features None

Building

Story 3

Level or Stories Multi/Split

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap

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Enrique Arce Cervera

Realtor | RE.S.0193817

+1(702) 601-3668

1258 W 37th Dr Los Angeles, CA 90007

Enrique Arce Cervera

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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1258 W 37th Dr