1314 W 35th PL, Los Angeles, CA 90007
1314 W 35th PL, Los Angeles, CA 90007
1314 W 35th PL, Los Angeles, CA 90007
1314 W 35th PL, Los Angeles, CA 90007
1314 W 35th PL, Los Angeles, CA 90007
1314 W 35th PL, Los Angeles, CA 90007
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Mark Piga

Mark Piga

+1(858) 367-0068
$ 5,399,000
Est. payment | /mo

34 Beds

34 Baths

10,299 SqFt

Save
$ 5,399,000
Est. payment | /mo
Save

34 Beds

34 Baths

10,299 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 10,299 sqft

Price per Sqft $524

MLS Listing ID 26105036

Bedrooms 34

HOA Y/N No

Year Built 2023

Lot Size 6,799 Sqft

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 C34 - Los Angeles Southwest

Zoning LARD1.5

Interior

Heating Central

Cooling Central Air

Fireplaces Type None

Fireplace No

Appliance Dishwasher, Gas Range, Microwave, Refrigerator

Exterior

Parking Features None

Total Parking Spaces 6

Building

Story 4

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction Yes

Others

Senior Community No

Tax ID 5040006025

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Benjamin Lee Lyon Stahl Investment Real Estate, Inc. #02123715

Nearby Locations

Mark Piga

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(858) 367-0068

mark@markpigahomes.com

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1314 W 35th PL