Active
1258 W 37th Dr
Los Angeles CA, 90007
$2,999,999
$720.98 per sqft
Active
7 Beds
7 Baths
4,161 sqft
Multi-family
Built in 1906
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.
24-379147
MLSⓇ ID
April 12, 2024
Listed
October 9, 2024
Updated
Map
1258 W 37th Dr
Los Angeles CA, 90007
Interior Features
Total Stories
3
Bedrooms
7
Total Bathrooms
7
Appliances
None
Fireplace
No
Cooling
Yes
Cooling Description
Wall Unit(s)
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.1 Acres
Other Property Details
Area Name
Los Angeles Southwest
Days on Market
177
Garage
No
Parking
None
Parking Total
0
View
No
County
Los Angeles
Pool
No
Zoning
LARD2
Listed by Neema Ahadian with Marcus & Millichap
Listing Contact: 310-909-5444
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Data last updated 10/9/2024