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 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Clara Yang | CA DRE# 01201082 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 10/9/2024

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