1337 W 36th Place

    Los Angeles (City), CA 90007
    • $3,300,000
    • STATUS: Active
    • ON SITE: 51 days
    • ID#: PW18129058
    UPDATED: 79 min ago
    $3,300,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,142
      SQFT
    • $797
      $/SQFT
    Type:
    Multi-Family
    Built:
    2017
    County:

    School Ratings & Info

    Description

    New construction student housing asset in Los Angeles, CA. Located in a highly sought-after student housing area less than three blocks from the University of Southern California within the DPS patrol boundaries, less than one mile from the new $700 million University Village.1337 West 36th Place features two duplexes with a total of four three-bedroom/three bath units that are in excellent condition and loaded with amenities. All units have an exterior balcony and in-unit laundry. One of the units is currently owner occupied with two additional tenants, while the three remaining units are leased to a company that assists foreign students with transitioning to American college life. The company leases the units and then subleases them to students at significant markups. A new investor could capture substantial rental upside by terminating this arrangement and renting the units at market rates, or they could enjoy the management-free nature of the asset by continuing as-is. This company is highly interested in continuing the arrangement at an increased monthly rent. The property also features an unpermitted bedroom with a bath that is currently rented as an Airbnb. The property operates with an incredibly low expense load. The units are separately metered for all utilities and the common area lighting expense is low due to state of the art LED lights. Additionally the property's design gives it attractive curb appeal wile requiring minimal landscaping expense.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-22T07:29:06.213. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.playavistaliving.com/homes/84129879

    1337 W 36th Place Los Angeles (City), CA 90007

    • Price: $3,300,000
    • Status: Active
    • Updated: 79 min ago
    • ID#: PW18129058
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    4,142
    SQFT
    $797
    $/SQFT
    2017
    Built
    Neighborhood:
    C34 - Los Angeles Southwest
    County:
    Los Angeles
    Area:
    C34 - Los Angeles Southwest
    Property Description
    New construction student housing asset in Los Angeles, CA. Located in a highly sought-after student housing area less than three blocks from the University of Southern California within the DPS patrol boundaries, less than one mile from the new $700 million University Village.1337 West 36th Place features two duplexes with a total of four three-bedroom/three bath units that are in excellent condition and loaded with amenities. All units have an exterior balcony and in-unit laundry. One of the units is currently owner occupied with two additional tenants, while the three remaining units are leased to a company that assists foreign students with transitioning to American college life. The company leases the units and then subleases them to students at significant markups. A new investor could capture substantial rental upside by terminating this arrangement and renting the units at market rates, or they could enjoy the management-free nature of the asset by continuing as-is. This company is highly interested in continuing the arrangement at an increased monthly rent. The property also features an unpermitted bedroom with a bath that is currently rented as an Airbnb. The property operates with an incredibly low expense load. The units are separately metered for all utilities and the common area lighting expense is low due to state of the art LED lights. Additionally the property's design gives it attractive curb appeal wile requiring minimal landscaping expense.
    Exterior Features

    Garage Spaces 8.00 Lot Features 0-1 Unit/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 8.00 Pool Features None Pool Private YN No Property Attached YN Yes

    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 2+ Common Walls Laundry Features Inside

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 3.87 Community Features Street Lighting Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 178740.00 Gross Multiplier 18.46 Gross Scheduled Income 178740.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Net Operating Income 127867.00 New Taxes Expense 0.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 4 Operating Expense 47298.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Special Listing Conditions Standard Total Expenses 47298.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Lard1.5

    Listing provided courtesy of Steven Bogoyevac of Steven M. Bogoyevac, Broker and Daniel Lewin of .


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-22T07:29:06.213. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
     
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