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Bring all offers. Flex in Price 2 Multifamily Properties Offered at $8,799,000 in Los Angeles, CA
INVESTMENT HIGHLIGHTS
- Beautiful New Construction with No Rent Control
- "Hands-Off" Investment with Few Annual Expenses
- Net Lease Investment
- Captive Audience of 50K USC Students Nearby - Rents Reset Every Fall
EXECUTIVE SUMMARY
Two beautiful, identical, new-construction, 3-story co-living buildings near USC, only doors apart from one another. 25 Beds/25 Baths in each building, with a large kitchen on each floor.
An exciting and unique Net Lease Opportunity (Master Lease) in a gentrifying location - Landlord ONLY pays for property taxes and insurance - Tenant/Lessee picks up ALL other expenses . These properties just received their Certificate of Occupancy and have been master leased for a 2 year + 2 year (option) term to an LA County non-profit, Special Services for Groups, Inc. 3.5% annual rent increases, too.
PERFECT FOR USC STUDENTS, IN THE FUTURE, ALTERNATIVELY. AND THE 4 CAR GARAGES CAN BE BUILT OUT, ADDING 3 MORE BEDROOMS EACH - bumping the gross income 12%!
An exciting and unique Net Lease Opportunity (Master Lease) in a gentrifying location - Landlord ONLY pays for property taxes and insurance - Tenant/Lessee picks up ALL other expenses . These properties just received their Certificate of Occupancy and have been master leased for a 2 year + 2 year (option) term to an LA County non-profit, Special Services for Groups, Inc. 3.5% annual rent increases, too.
PERFECT FOR USC STUDENTS, IN THE FUTURE, ALTERNATIVELY. AND THE 4 CAR GARAGES CAN BE BUILT OUT, ADDING 3 MORE BEDROOMS EACH - bumping the gross income 12%!
TAXES & OPERATING EXPENSES (ACTUAL - 2025) |
ANNUAL |
|---|---|
| Gross Rental Income |
$660,000
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$660,000
|
| Taxes |
$105,500
|
| Operating Expenses |
$16,000
|
| Total Expenses |
$121,500
|
| Net Operating Income |
$538,500
|
TAXES & OPERATING EXPENSES (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $660,000 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $660,000 |
| Taxes | |
|---|---|
| Annual | $105,500 |
| Operating Expenses | |
|---|---|
| Annual | $16,000 |
| Total Expenses | |
|---|---|
| Annual | $121,500 |
| Net Operating Income | |
|---|---|
| Annual | $538,500 |
PROPERTY FACTS
| Price | $8,799,000 | Number of Properties | 2 |
| Price / SF | $578.27 / SF | Individually For Sale | 0 |
| Cap Rate | 6.13% | Total Building Size | 15,216 SF |
| Sale Type | Investment | Total Land Area | 0.26 AC |
| Status | Active |
| Price | $8,799,000 |
| Price / SF | $578.27 / SF |
| Cap Rate | 6.13% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 15,216 SF |
| Total Land Area | 0.26 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 1587 W 37th St, Los Angeles, CA 90018 | Multifamily | 7,608 SF | 2024 | - |
| 1571 W 37th St, Los Angeles, CA 90018 | Multifamily | 7,608 SF | 2024 | - |
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