1529 W 35th Pl, USC Adj.
New Construction Student Housing Fourplex 1 Mile from USC
It is not often that new construction units THIS CLOSE TO USC come on the market! This luxury triplex + ADU is situated walking distance to USC (1 mile) and is only 4 minutes directly east by car. This cash cow is currently operated as a very successful student housing development and is presently at 96% occupancy. At 100% occupancy the cap rate is nearly 6%. The property can be sold with management in place, making for an easy, cash flowing investment with ultra-high rental demand.
The Important
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$3,750,000
Fourplex
Pre-Market
4
2024
5.91%
10.59
$354,048/Year (Pro Forma)
8,159 sqft
6,801 sqft
$459.62
$937,500
1 x 9b/9b, 1 x 7b/7b, 1 x 6b/5b, 1 x 3b/3b ADU
No
2 Garage Spaces + 4 Exterior Spaces
Rare USC location
The Highlights
Already fully operational student housing development! Management in place!
For rent here: https://tripalink.com/apartments/los-angeles/usc-off-campus-student-housing/50000058
Prime location walking distance to USC (1 mile directly to the east).
MAJOR CASH COW! Currently at a 5.58% cap rate at 96% occupancy. Will jump to a 5.91% cap rate once the final bedroom is rented.
Unbeatable student housing unit mix consisting of one 9 bed, one 7 bed, one 6 bed and one 3 bed
Property comes fully loaded with premium kitchen appliances, washers + dryers. Totally turnkey!
Outstanding price per SF of $459.62.
Dream 1031 exchange opportunity.
All units separately metered for gas, electric AND water!
Large open floorplans!
With SB-8 in effect, less new constructions are being built, making properties like these an even more rare and hot commodity.
The Neighborhood
<15-Minute Walk
Starbucks, Boba Loca, Church's Chicken, Denker Recreation Center, Stem Preparatory Academy, Citibank, US Bank
<15-Minute Drive
USC, University Park, USC Village, Insomnia Cookies, Trader Joe's, Target, Natural History Museum, BMO Stadium, LA Memorial Coliseum, CA Science Center
<$15 Uber Ride
USC, University Park, USC Village, Insomnia Cookies, Trader Joe's, Target, Natural History Museum, BMO Stadium, LA Memorial Coliseum, CA Science Center
Contact
Lauren Cearley
213.302.8662
Property Presented By:
