1372 W 35th PlaceLos Angeles, CA 90007

Description

We are pleased to present 1372 W 35th Pl, a newer construction 5-unit, 15-bed student housing asset built in 2022 and ideally located within walking distance of USC's University Park Campus. The property is fully leased for the 2026-2027 Academic Year and is THE LOWEST entry point for newer construction student housing in the USC submarket, providing investors with an attractive entry point into a high-demand rental market.1372 W 35th Pl is offered at a 7.23% CAP rate and 8.99 GRM on in-place income, with monthly gross income exceeding $22,000. The efficient unit mix includes two 3BR/3BA units, two 4BR/3BA units, and one 1BR unit, offering flexibility to accommodate a broad range of student tenants. The property offers additional upside through rent growth and the potential to convert select units to double occupancy, giving new ownership multiple paths to increase income. Smaller, efficiently configured units can attract a broader tenant pool, lease quickly, and carry lower turnover risk than larger group-oriented layouts. Located within walking distance of USC's University Park Campus, USC Village, and surrounding amenities, the property benefits from strong and durable student housing demand. USC enrolls over 46,000 students, with approximately 65% living off campus, supporting continued demand for well-located housing near campus. Beyond its strong in-place cash flow, the property may qualify for 100% bonus depreciation under the One Big Beautiful Bill Act, creating potential tax advantages and making the property an attractive candidate for a cost segregation study. A turnkey opportunity to acquire newer construction student housing with strong current income, meaningful rental upside, and a prime location near USC.

Property Information

Property type

Residential Income

Year built

2022

Stories

2

Living area

5,004 Sq Ft

Lot size

0.16 acres

Lot dimensions

50x136

Parking spaces

4

Zoning

LARD1.5

Days on market

10

MLS^® Listing#

26990189

Property Features

Appliances

Dishwasher · Gas Range · Microwave · Refrigerator · Dryer · Washer

Cooling

Central Air

Heating

Central

Fireplace

None

Parking

Driveway

Security

Fire Sprinkler System · Gated Community · Smoke Detector(s)

Community

Gated

Financial Details

HOA

None

Parcel number

5040005026

Directions

Subject Property is located within the USC Patrol Zone, just west of Campus