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Courtesy of: Keller Williams Realty Downey, Luis Guevara
Listing Sold By: Simco Pacific Corp
Local Realty Services Provided By: Keller Williams Realty Los Feliz
/ CA / Los Angeles / West University / 1325 W 37Th Place
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/ CA / Los Angeles / West University / 1325 W 37Th Place
1325 W 37Th Place, Los Angeles, CA 90007
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/ CA / Los Angeles / West University / 1325 W 37Th Place

1325 W 37Th Place, Los Angeles, CA 90007

Estimation provided by Keller Williams Realty, LLC.
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Closed
Sold
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Property Description

Newly built and FULLY LEASED USC student housing development. New construction of 3 detached houses that each offer 6 beds and 3 1/2 baths for student rentals. Each of the 18 beds are leased thru July 31, 2019. Total rents are a phenomenal $211,200 in yearly Gross Income, which after deducting an actual 22.32% for expenses, gives you a NOI of $164,052 and a 6.07% cap rate for a newly built project. The units are separately metered for gas and electricity, and tenants are responsible for paying all utility expenses. These 3 two-story houses feature top-of-the line amenities for students with brand new appliances (refrigerators, stoves, microwaves, washers & dryers), and each unit has its own HVAC. Bedrooms have adjacent bathrooms, which is an especially attractive feature for student tenants. Each unit has a common living area, a shared kitchen and in-unit laundry facility. Additionally, there are six total parking spaces on the property. The property is less than a quarter-mile from USC, within the USC Department of Public Safety (DPS) Patrol and Response Area.

Property Details

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Overview
Property Type
Triplex
Property Size
sq ft
Year Built
2018
Days on Site
1,794 Days
HVAC
Central
Parking
6 Parking Spaces
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/ CA / Los Angeles / West University /

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