1325 W 37Th Place

  • Los Angeles

  • $2,700,000
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Residential Income Details

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.
Essential
MLS #RS18179830
Price$2,700,000
Number of Units3
Sale TypeStandard
Sub-TypeTriplex
StatusActive
Listing BrokerageKeller Williams Realty Downey
Listing AgentLuis Guevara
Listing Agent BRE #01109164
Interior
FeaturesRecessed Lighting,Stone Counters
FloorLaminate,Tile
AppliancesGarbage Disposal,Gas Oven,Gas Range,Gas Stove,Gas Water Heater,Microwave,Range/Stove Hood,Refrigerator
CoolingCentral
HeatingCentral Furnace
FireplaceNone
Exterior
ParkingAssigned,Gated,Side by Side
Garage Spaces0
PoolNone
Community
AreaC42 - Downtown L.A.
CommunitySidewalks,Street Lighting
Address1325 W 37Th Place
CityLos Angeles
CountyLos Angeles
StateCA
ZipCode90007
School

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Based on information from California Regional Multiple Listing Service, Inc. as of Wednesday, August 1, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.