1258 West 37th Drive
$2,999,999
7
7
4,161
4,161
$721
Description
Newly constructed 13-bed student housing investment opportunity located two blocks west of the University of Southern California, located within the USC Department of Public Safety 24Hour Patrol Zone. The subject property was designed and built by Tripalink, a leading student housing operator with a proven track record of delivering best-in-class off-campus housing and providing tenants with an unparalleled housing experience through their tech-driven and data oriented operation and development model....Newly constructed 13-bed student housing investment opportunity located two blocks west of the University of Southern California, located within the USC Department of Public Safety 24Hour Patrol Zone. The subject property was designed and built by Tripalink, a leading student housing operator with a proven track record of delivering best-in-class off-campus housing and providing tenants with an unparalleled housing experience through their tech-driven and data oriented operation and development model. The property features a three-story duplex in the front and a free-standing ADU in the rear. The duplex was built in 2022, and theADU was completed in 2024. The front duplex has ten bedrooms spread across both units while the rear ADU has three individualbedrooms with their own private bathrooms. The building was designed with a co-living philosophy and meticulously constructed with operational efficiency and a superior tenantexperience in mind. All bedrooms were designed as co-living private suites and feature a private bathroom in addition to being secured by Smart Locks and Virtual Key Cards, powered by Tripalink's propriety mobile app and tenant portal. All bedrooms and common areas are delivered furnished to residents upon move-in and feature in-unit laundry and expansive kitchens; in addition to tenant-centric amenities such as bi-weekly cleaning of the common areas, WiFi coverage, covered utilities,24/7 maintenance and community events. The subject property is a half-mile walk to the main University Park Campus of USC and less than a mile from USC Village. It alsodown the street from the Expo/Vermont metro rail station, allowing residents an easy commute to Downtown Los Angeles, Mid-City,and the Westside outside of their daily commute to campus. The offering presents a prime opportunity for an investor to acquire a fully recession-proof and passive student housing investment,directly adjacent to one of the leading private universities in the country. The 2022/2024 construction and best-in-class managementalso offer no deferred maintenance and strong in-place income, with a stabilized cash flow at a 5.94% CAP rate and 11.63 GRM oncurrent income.
- Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01238010 • Marcus & Millichap
Property Details for 1258 West 37th Drive
Zoning
LARD2
Parcel Number5040013010
Total Units3.0
Living Area4161
Source Living AreaOther
AreaLos Angeles Southwest (C34)
Vacancy Rate100
Lot Size Area4319
LISTING UPDATED: 10/09/2024 12:10 PM
Property Details for 1258 West 37th Drive
Status | Active |
---|---|
MLS # | 24-379147 |
Days on Market | 223 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1906 |
Lot Size | 0.10 AC / 4,319 SF |
County | Los Angeles County |
Building Information for 1258 West 37th Drive
Stories3Residences-Year Built1906Building Size-Lot Size0.10 AC / 4,319 SF
Property Information for 1258 West 37th Drive
Property History for 1258 West 37th Drive
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1258 West 37th Drive
Taxable ValueLand$833,098Additions$954,340Total$1,787,438
Tax Record2024$21,859 ($1,822 / month)
Home Facts
Total Finished SqFt3,224 SqFtAbove Grade Finished SqFt3,224 SqFtLot Size4,319 SqFtStyleDuplexYear Built2022ZoningLARD2CountyLOS ANGELESAPN5040-013-010
Schools near 1258 West 37th Drive
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | K to 12 | |||
Public - | 9 to 12 | |||
Charter - | K to 5 |
Rating | School | Distance |
---|---|---|
Lenicia B. Weemes Elementary School PublicK to 5 | ||
Foshay Learning Center PublicK to 12 | ||
Manual Arts Senior High School Public9 to 12 | ||
Stem Preparatory Academy CharterK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.