$3,700,000
$3,990,000
7.3%For more information regarding the value of a property, please contact us for a free consultation.
7,248 Sqft Lot
SOLD DATE : 11/20/2024
Key Details
Sold Price $3,700,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW24118738
Sold Date 11/20/24
HOA Y/N No
Year Built 1903
Lot Size 7,248 Sqft
Property Description
PRICE REDUCED! Master-leased Student Housing Property 1 block from USC. Offered at a true 6.5% Cap Rate with realistic upside to a 7.5% Cap Rate!
We are pleased to present the new construction, fully-stabilized USC student housing investment property located at 1158 West 37th Street in Los Angeles, CA 90007. The property is less than one mile from the University of Southern California’s main University Park campus within the USC DPS security zone and is in a popular student housing rental neighborhood.
The property has 5 units and 19 total bedrooms consisting of two brand-new construction 3 bed/3 bath units, a brand-new construction 3 bed/3 bath unit with a den, and two fully renovated 5 bed/5 bath units. The property is master-leased until 2027 offering a buyer security of income and easy management.
In addition to its proximity to USC, the property benefits from being walking distance to a Metro Expo Line station offering a short commute to Downtown Los Angeles and the Westside. The property is also nearby to Exposition Park, home of the world-famous LA Coliseum, the new LAFC Stadium and the new George Lucas Museum of Narrative Art. Exposition Park will play host to many key activities and events in the upcoming 2026 World Cup and the 2028 LA Olympics.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Zoning LARD1.5
Interior
Fireplace No
Laundry Inside
Exterior
Pool None
Community Features Curbs
Private Pool No
Building
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5040031006
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Conventional
Special Listing Condition Standard
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Bought with Daniel Lewin • Younglewin Advisors, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "