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1075 W 39th St
Los Angeles, CA 90037
The Nest Apartments | 85% 2 Bedrooms · Multifamily Property For Sale
·
28 Units
Investment Highlights
- Excellent unit mix of 24 2-Bedrooms and 4 1-Bedroom Units
- New George Lucas Museum several hundred feet away
- USC adjacent | Potential conversion to student housing.
- Large front parking lot with 13 tandem and 12 single spaces (Total of 38)
- Going-in Cap Rate of 6.17% | Upside to 10.56%
Executive Summary
The Mogharebi Group is proud to present for sale, a twenty-eight-unit apartment community located adjacent to the University of Southern California (USC) campus. Constructed in 1959, the property has an excellent unit mix of four one-bedroom/one-bath, and twenty-four two-bedroom/one-bath units. The building totals approximately +/- 16,522 square feet of improvements situated on a +/- 22,178 square foot lot. The property is located just outside the USC Department of Public Safety (DPS) Patrol Zone.
Situated at 1075 W. 39th Street, the property is positioned south of Exposition Blvd and just west of Vermont Ave. The Exposition Light Rail line runs along Exposition Boulevard, with a nearby station within walking distance at Exposition Boulevard and Vermont Avenue. The property also benefits from its close proximity to the USC campus, the Lucas Museum of Narrative Art (which is at the end of the block), the Natural History Museum of Los Angeles County, the Los Angeles Memorial Coliseum, and is just a short drive to Downtown Los Angeles.
Currently, The Nest Apartment is not leased to students; however, the property presents a compelling opportunity for a new owner to reposition and renovate the asset to capture strong demand for student housing.
Situated at 1075 W. 39th Street, the property is positioned south of Exposition Blvd and just west of Vermont Ave. The Exposition Light Rail line runs along Exposition Boulevard, with a nearby station within walking distance at Exposition Boulevard and Vermont Avenue. The property also benefits from its close proximity to the USC campus, the Lucas Museum of Narrative Art (which is at the end of the block), the Natural History Museum of Los Angeles County, the Los Angeles Memorial Coliseum, and is just a short drive to Downtown Los Angeles.
Currently, The Nest Apartment is not leased to students; however, the property presents a compelling opportunity for a new owner to reposition and renovate the asset to capture strong demand for student housing.
Property Facts
| Price Per Unit | $153,571 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.51 AC |
| Cap Rate | 6.17% | Building Size | 16,522 SF |
| Gross Rent Multiplier | 8.59 | No. Stories | 2 |
| No. Units | 28 | Year Built | 1959 |
| Property Type | Multifamily | Parking Ratio | 1.82/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LAR3 - Residential | ||
| Price Per Unit | $153,571 |
| Sale Type | Investment |
| Cap Rate | 6.17% |
| Gross Rent Multiplier | 8.59 |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 16,522 SF |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 1.82/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAR3 - Residential |
Amenities
Site Amenities
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 24 | - | - |
| 1+1 | 4 | - | - |
Property Taxes
| Parcel Number | 5037-017-021 | Improvements Assessment | $1,189,083 |
| Land Assessment | $1,471,029 | Total Assessment | $2,660,112 |
Property Taxes
Parcel Number
5037-017-021
Land Assessment
$1,471,029
Improvements Assessment
$1,189,083
Total Assessment
$2,660,112
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