1205 W 37th Dr
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1205 W 37th Dr
4 Unit Apartment Building $3,750,000 ($937,500/Unit) 5.40% Cap Rate Los Angeles, CA 90007
Investment Highlights
- 100% Leased to USC students
- Walking distance to Metro Expo Line
- Located in the USC DPS Security Zone
Executive Summary
McAlpin & Company is pleased to present an opportunity to invest in USC student housing. It is located within a mile of the main campus and within a couple of blocks of the Metro Expo Line. The asset consists of two buildings. There is a completely renovated, 5-bedroom 5-bathroom single family residence at the front of the lot with each bedroom being rented out individually. Right behind it is a 3 story Duplex and ADU. The Duplex was built in 2020 and is comprised of (2) 3-bedroom 3-bathroom units. The ADU, which was completed in 2023, is also 3 bedrooms and 3 bathrooms. The entire complex is leased to USC students. There is high demand for newer, updated student housing, which makes this investment even more attractive. The location is situated in the USC DPS security zone, which provides tenants and owners with peace of mind. The site is also within walking distance to the Metro Expo Line station offering easy access to everything LA, from the beach to DTLA. It is also a stone's throw from the LA Coliseum, home of the USC Trojan Football team, the LAFC Soccer Stadium, Exposition Park, the Natural History Museum of LA County and the George Lucas Museum of Narrative Art.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | - | - |
Vacancy Loss | - | - |
Effective Gross Income | $99,999 | $9.99 |
Taxes | $99,999 | $9.99 |
Operating Expenses | $99,999 | $9.99 |
Total Expenses | $99,999 | $9.99 |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Actual - 2023) Click Here to Access
Gross Rental Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Other Income | |
---|---|
Annual | - |
Annual Per SF | - |
Vacancy Loss | |
---|---|
Annual | - |
Annual Per SF | - |
Effective Gross Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Taxes | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Operating Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Total Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Net Operating Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts
Price | $3,750,000 | Apartment Style | Low Rise |
Price Per Unit | $937,500 | Building Class | B |
Sale Type | Investment | Lot Size | 0.15 AC |
Cap Rate | 5.40% | Building Size | 5,338 SF |
Gross Rent Multiplier | 14.1 | Average Occupancy | 100% |
No. Units | 4 | No. Stories | 3 |
Property Type | Multifamily | Year Built | 2020 |
Property Subtype | Apartment |
Price | $3,750,000 |
Price Per Unit | $937,500 |
Sale Type | Investment |
Cap Rate | 5.40% |
Gross Rent Multiplier | 14.1 |
No. Units | 4 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | B |
Lot Size | 0.15 AC |
Building Size | 5,338 SF |
Average Occupancy | 100% |
No. Stories | 3 |
Year Built | 2020 |
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Refrigerator
- Oven
- Range
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
5+5 | 1 | $6,775 | 1,632 |
3+3 | 3 | $5,138 | 1,122 - 1,292 |
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Walk Score ®
Very Walkable (75)
Bike Score ®
Very Bikeable (84)
zoning
Zoning Code | RD2 (Restricted Density Multiple Dwelling) |
RD2 (Restricted Density Multiple Dwelling) |
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1205 W 37th Dr
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