1328 W 37th Drive

    Los Angeles (City), CA 90007
    • $2,750,000
    • STATUS: Active
    • ON SITE: 21 days
    • ID#: PW20059065
    UPDATED: 64 min ago
    $2,750,000
    • 0
      BEDS
    • 0.18
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,470
      SQFT
    • $615
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1908
    County:

    School Ratings & Info

    Description

    We are pleased to present the newly-constructed student housing asset located at 1328 W 37th Dr in LA. Located just 2 blocks from USC's main University Park campus & within the DPS Security Patrol zone, the property will be highly sought-after by USC student tenants. It's within 1 mile of University Village+GGa $700 Million Mixed-Use Project with numerous national retailers including Target, Trader Joe+GGs and Starbucks as well as boutique restaurants & shops. The property itself consists of 2 separate buildings on a large pass through lot. The building on the Exposition side of the property is a single unit built in 2010. This building is one of a kind. Although technically 3 bedrooms/3 bathrooms on title, it has historically functioned as 4 separate studios. The ground floor contains a large kitchen, eating area & separate living room & bathroom. The second floor consists of 2 separate master bedroom/bathrooms. The third floor consists of a spacious master bedroom/bathroom penthouse with wet bar & a rooftop deck. The currently under construction duplex on the 37th Dr side of the property (completion estimated June 2020) is a more typical USC student housing product consisting of 2 ground floor double garages and a 3 bedroom/3 bathroom +/- 1350 square feet unit on each the second and third floor. The property has been designed with the highest quality finishes, cathedral ceilings, keypad entry, oversize walk-in closets, individually controlled A/C & balconies in each unit.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-09T12:32:21.793. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.

    www.playavistaliving.com/homes/104276243

    1328 W 37th Drive Los Angeles (City), CA 90007

    • Price: $2,750,000
    • Status: Active
    • Updated: 64 min ago
    • ID#: PW20059065
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.18
    Acres
    4,470
    SQFT
    $615
    $/SQFT
    1908
    Built
    Neighborhood:
    C23 - Metropolitan
    County:
    Los Angeles
    Area:
    C23 - Metropolitan
    Property Description
    We are pleased to present the newly-constructed student housing asset located at 1328 W 37th Dr in LA. Located just 2 blocks from USC's main University Park campus & within the DPS Security Patrol zone, the property will be highly sought-after by USC student tenants. It's within 1 mile of University Village+GGa $700 Million Mixed-Use Project with numerous national retailers including Target, Trader Joe+GGs and Starbucks as well as boutique restaurants & shops. The property itself consists of 2 separate buildings on a large pass through lot. The building on the Exposition side of the property is a single unit built in 2010. This building is one of a kind. Although technically 3 bedrooms/3 bathrooms on title, it has historically functioned as 4 separate studios. The ground floor contains a large kitchen, eating area & separate living room & bathroom. The second floor consists of 2 separate master bedroom/bathrooms. The third floor consists of a spacious master bedroom/bathroom penthouse with wet bar & a rooftop deck. The currently under construction duplex on the 37th Dr side of the property (completion estimated June 2020) is a more typical USC student housing product consisting of 2 ground floor double garages and a 3 bedroom/3 bathroom +/- 1350 square feet unit on each the second and third floor. The property has been designed with the highest quality finishes, cathedral ceilings, keypad entry, oversize walk-in closets, individually controlled A/C & balconies in each unit.
    Exterior Features

    Garage Spaces 4.00 Lot Features Level Lot Size Source Assessor Lot Size Units Square Feet Parking Total 8.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Dryer IncludedWasher Included

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.70 Community Features Curbs Country Us Electric Expense 250.00 Elevation Units Feet Fuel Expense 250.00 Gross Income 186000.00 Gross Multiplier 14.78 Gross Operating Income 182820.00 Gross Scheduled Income 186000.00 Insurance Expense 2718.00 Land Lease YN No Laundry YN Yes Maintenance Expense 3000.00 Net Operating Income 129311.00 New Construction YN No New Taxes Expense 32891.00 Number Of Separate Electric Meters 3 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 3 Number Of Units Leased 0 Operating Expense 53509.00 Operating Expense Percent 32.27 Professional Management Expense 9300.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 0.00 Total Expenses 53509.27 Trash Expense 250.00 Vacancy Allowance 5580 Vacancy Allowance Rate 3.00 Water Sewer Expense 250.00 Water Source Public Year Built Source Public Records Zoning Lard2

    Listing provided courtesy of Daniel Lewin of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-09T12:32:21.793. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.

     
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