1314 W 35th Pl, Los Angeles, CA 90007
1314 W 35th Pl, Los Angeles, CA 90007
1314 W 35th Pl, Los Angeles, CA 90007
14
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$5,399,000
Est. payment /mo
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34 Beds
34 Baths
10,299 SqFt
New

1314 W 35th Pl Los Angeles, CA 90007

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Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 10,299 sqft

Price per Sqft $524

MLS Listing ID 26105036

Bedrooms 34

Construction Status New Construction

Year Built 2023

Lot Size 6,800 Sqft

Acres 0.1562

Property Sub-Type Multi-Family

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 Los Angeles Southwest

Zoning LARD1.5

Rooms

Other Rooms None

Interior

Heating Central

Cooling Air Conditioning, Central

Fireplaces Type None

Equipment Refrigerator, Range/Oven, Solar Panels, Microwave, Dishwasher

Laundry In Unit

Exterior

Parking Features None

Garage Spaces 6.0

Building

Story 4

Level or Stories Multi/Split

Construction Status New Construction

Others

Special Listing Condition Standard


TheMLS (CLAW)
Listed by Lyon Stahl Investment Real Estate, Inc.

NEARBY SCHOOL & BUSINESS

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Kami Rahbaran

Kami Rahbaran

Agent RE.S.0190800

+1(702) 927-2797

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1314 W 35th Pl