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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
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
Walk Score ®
Very Walkable (75)
Bike Score ®
Very Bikeable (84)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

zoning

Zoning Code RD2 (Restricted Density Multiple Dwelling)
RD2 (Restricted Density Multiple Dwelling)
  • Listing ID: 33126660

  • Date on Market: 9/10/2024

  • Last Updated:

  • Address: 1205 W 37th Dr, Los Angeles, CA 90007

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