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Josh Canova

josh.canova@evrealestate.com +1(858) 361-7010

$ 3,250,000

Est. payment -/mo

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Price Dropped by $100K

1344 W 37th PL Los Angeles, CA 90007

18 Beds

18 Baths

5,740 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 5,740 sqft

Price per Sqft $566

MLS Listing ID 26656429

Bedrooms 18

HOA Y/N No

Year Built 2021

Lot Size 6,603 Sqft

Property Description

PRICE IMPROVED. Property to be delivered with a Master Lease contract in place. Please contact the listing agents for more details. We are pleased to present 1344 W 37th Pl, a premier 2021-constructed student housing investment opportunity located just west of USC within the university's 24-hour DPS patrol zone. Purpose-built to capture the robust demand from USC's 46,000+ students, 65% of whom live off-campus, the property offers three units each with 6 bedrooms and 6 bathrooms. Each unit features high-end finishes, quartz countertops, stainless steel appliances, central HVAC, and in-unit laundry, and individually metered for all utilities: gas, electricity, & water. Each unit has only two floors and offers spacious open layouts, designed to promote maximum comfort for the students. The property is ideally situated within walking distance to University Park and near the Expo/Vermont Metro Station providing easy access to Downtown Los Angeles, Mid-City, and the Westside. 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 fully occupied by USC students and offers a strong 7.23% current cap rate and 9.71 GIM with a monthly scheduled gross income of $28,764, allowing investors to maximize returns in one of Los Angeles' most stable rental submarkets. In addition to its strong fundamentals, the property qualifies for 100% bonus depreciation, creating a unique opportunity for investors to maximize early tax benefits through cost segregation. This combination of modern construction, durable student demand, and excellent operating fundamentals makes 1344 W 37th Pl ideal for any HNW individual or family office seeking a combination of yield, tax shelter, and long-term appreciations.

Location

State CA

County Los Angeles

Area C34 - Los Angeles Southwest

Zoning LARD2

Interior

Heating Central

Cooling Central Air

Fireplace No

Appliance Dishwasher, Disposal, Microwave, Refrigerator, Dryer, Washer

Exterior

Parking Features Uncovered

Community Features Gated

Total Parking Spaces 6

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction Yes

Others

Senior Community No

Tax ID 5040011008

Security Features Carbon Monoxide Detector(s),Fire Detection System,Gated Community,Resident Manager,Smoke Detector(s)

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Benjamin Lee Lyon Stahl Investment Real Estate, Inc. #02123715

NEARBY SCHOOLS & PROPERTIES

Josh Canova

Advisor | License ID: C135485

+1(858) 361-7010

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