Homes for sale - 1259 W 36th Pl, Los Angeles, CA 90007

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John Herkenrath

johnherkenrath@epiquerealty.com +1(310) 221-2910

$11,545,000

Est. payment - /mo

47 Beds

43 Baths

15,903 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 15,903 sqft

Price per Sqft $725

MLS Listing ID 25-477875

Style Modern

Bedrooms 47

Construction Status New Construction

Year Built 2022

Lot Size 0.574 Acres

Property Sub-Type Multi-Family

Property Description

We are pleased to offer the opportunity to acquire this 47-bedroom + 43-bathroom USC Student Housing Portfolio, consisting of three (3) brand new construction Apartment Complexes, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). This turnkey, new construction portfolio features fully furnished bedrooms, brand new hardwood floors, stainless steel kitchen appliances, quartz counter tops, tiled showers with glass enclosures, in-unit washer & dryers, and high-end finishes throughout the units. The investment features a new roof, new copper plumbing, double pane windows, and individually metered for all utilities: gas, electricity, & water. The portfolio consists of (10) 3-bedroom + 3-bathroom units, and (4) 4-bedroom + 3-bathroom units, and (1) 1-bedroom + 1-bathroom unit. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The investment is 100% occupied with USC students, and fully leased for the 2024-2025 year, with a gross income of $78,757/month. There's approximately 15% potential upside in rents, which an investor can achieve closer to about $84,000/month. The Portfolio investment is priced at a current blended 6.35% Cap Rate & 13x GRM. The Portfolio consists of the following address: 1259 W. 36th Place, 1231 W. 36th Place, & 1370 W. 35th Place, Los Angeles, CA 90007. Please email for the Executive Summary and additional information.

Location

State CA

County Los Angeles

Area Los Angeles Southwest

Zoning LARD1.5

Rooms

Other Rooms Other

Interior

Heating Other

Cooling Dual, Other

Flooring Hardwood

Equipment Range/Oven, Freezer, Garbage Disposal, Recirculated Exhaust Fan, Refrigerator, Other, Washer, Dryer, Dishwasher

Exterior

Parking Features Gated, Other

Garage Spaces 15.0

Building

Story 3

Architectural Style Modern

Level or Stories Multi/Split

Construction Status New Construction

Others

Special Listing Condition Standard

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Listed by KW Advisors

"John takes great pride in helping his clients through every step of the buying and selling process. Leveraging two decades of experience in pre-construction, new home sales and market sales exclusive representation. his vast knowledge in brokering home sales within luxury communities and new developments has proven invaluable to his clients."

+1(310) 221-2910

johnherkenrath@epiquerealty.com

8383 Wilshire Blvd #800 Beverly Hills CA 90211

1259 W 36th Pl Los Angeles, CA 90007