2024 Student Housing Fourplex 1 Mile from USC | 1529 W 35th Pl
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2024 Student Housing Fourplex 1 Mile from USC 1529 W 35th Pl
4 Unit Apartment Building $3,750,000 ($937,500/Unit) 5.91% Cap Rate Los Angeles, CA 90018
INVESTMENT HIGHLIGHTS
- Already fully operational student housing development! Management in place!
- MAJOR CASH COW! Currently at a 5.48% cap rate at 96% occupancy. Will jump to a 5.91% cap rate once the final bedroom is rented.
- Property comes fully loaded with premium kitchen appliances, washers + dryers. Totally turnkey! Outstanding price per SF of $459.62.
- Prime location walking distance to USC (1 mile directly to the east).
- Unbeatable student housing unit mix consisting of one 9 bed, one 7 bed, one 6 bed and one 3 bed!
EXECUTIVE SUMMARY
1529 W 35th Pl. is a rare PRE-MARKET luxury triplex + ADU just 1 mile from USC—a short 4-minute drive east or an easy walk to campus. This high-performing student housing development boasts 96% current occupancy, with a nearly 6% cap rate at full occupancy. The property includes 4 total units, offering a combined 25 bedrooms and 25 bathrooms, each thoughtfully designed with modern kitchens, dual stainless steel appliances, in-unit laundry, and premium finishes. For investors looking to further maximize returns, the 900 sqft large garage may have the potential for conversion, creating an opportunity for additional rental income.
For ease of investment, this property can be sold with management in place, ensuring a smooth transition for new ownership and providing a turnkey solution in a market with ultra-high rental demand. These new construction units—especially this close to USC—rarely come on the market, making this an incredible opportunity to own a stabilized, cash-flowing asset in one of LA’s most competitive rental markets!
For ease of investment, this property can be sold with management in place, ensuring a smooth transition for new ownership and providing a turnkey solution in a market with ultra-high rental demand. These new construction units—especially this close to USC—rarely come on the market, making this an incredible opportunity to own a stabilized, cash-flowing asset in one of LA’s most competitive rental markets!
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$354,048
|
$43.39
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$35,405
|
$4.34
|
| Effective Gross Income |
$318,643
|
$39.05
|
| Taxes |
$44,977
|
$5.51
|
| Operating Expenses |
$51,931
|
$6.36
|
| Total Expenses |
$96,908
|
$11.88
|
| Net Operating Income |
$221,735
|
$27.18
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $354,048 |
| Annual Per SF | $43.39 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $35,405 |
| Annual Per SF | $4.34 |
| Effective Gross Income | |
|---|---|
| Annual | $318,643 |
| Annual Per SF | $39.05 |
| Taxes | |
|---|---|
| Annual | $44,977 |
| Annual Per SF | $5.51 |
| Operating Expenses | |
|---|---|
| Annual | $51,931 |
| Annual Per SF | $6.36 |
| Total Expenses | |
|---|---|
| Annual | $96,908 |
| Annual Per SF | $11.88 |
| Net Operating Income | |
|---|---|
| Annual | $221,735 |
| Annual Per SF | $27.18 |
PROPERTY FACTS
| Price | $3,750,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $937,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.91% | Building Size | 8,159 SF |
| Gross Rent Multiplier | 10.91 | Average Occupancy | 92% |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Parking Ratio | 0.74/1,000 SF |
| Price | $3,750,000 |
| Price Per Unit | $937,500 |
| Sale Type | Investment |
| Cap Rate | 5.91% |
| Gross Rent Multiplier | 10.91 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 8,159 SF |
| Average Occupancy | 92% |
| No. Stories | 3 |
| Year Built | 2024 |
| Parking Ratio | 0.74/1,000 SF |
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+3 | 1 | $3,874 | 861 |
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Walk Score®
Very Walkable (78)
Bike Score®
Very Bikeable (74)
ZONING
| Zoning Code | LAR4 (restricted Density Multiple Dwelling) |
| LAR4 (restricted Density Multiple Dwelling) |
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2024 Student Housing Fourplex 1 Mile from USC | 1529 W 35th Pl
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