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$ 5,399,000
Est. payment /mo
New
1314 W 35th PL Los Angeles, CA 90007
34 Beds
34 Baths
10,299 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 10,299 sqft
Price per Sqft $524
MLS Listing ID 26105036
Bedrooms 34
HOA Y/N No
Year Built 2023
Lot Size 6,799 Sqft
Property Description
We are pleased to present 1314 W 35th Pl, a 2023-built, six-unit, 34-bed student housing asset within walking distance of USC's University Park Campus and USC Village and inside the USC DPS patrol area. Developed by one of the leading student housing operators in the submarket, the property was designed by a team that leases USC housing every year and knows what keeps residents renewing. The property is 100% leased to students for the current academic year, so a new owner gets stable, in-place cash flow from day one. Priced at $158,794 per bed, the offering is a 7.18% CAP and 9.05 GRM on in-place income, a basis well below replacement cost and below comparable new construction sales in the USC submarket. Assembling 34 new-construction beds at this price would otherwise take several separate acquisitions or years of development risk. The unit mix includes three 4BD/4BA units, two 7BD/7BA units, and one 8BD/8BA unit, with a private bathroom for every bedroom. The range of unit sizes lets ownership lease flexibly each year, by the bed to individual students, to small friend groups, or to larger groups such as teams and student organizations taking a full 7- or 8-bedroom unit. As 2023 new construction, the property is non-RSO, needs no deferred maintenance, and is exempt from AB 1482 rent caps for 15 years from its certificate of occupancy. USC enrolls over 46,000 students, with roughly 65% living off campus, which drives deep and durable demand. The property may qualify for 100% bonus depreciation through a cost segregation study. Buyer to verify all information.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Zoning LARD1.5
Interior
Heating Central
Cooling Central Air
Fireplaces Type None
Fireplace No
Appliance Dishwasher, Gas Range, Microwave, Refrigerator
Exterior
Parking Features None
Total Parking Spaces 6
Building
Story 4
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction Yes
Others
Senior Community No
Tax ID 5040006025
Special Listing Condition Standard
Listed by Benjamin Lee Lyon Stahl Investment Real Estate, Inc. #02123715