1258 W 37Th Drive

Description

We are pleased to present 1258 W 37th Dr, a newly constructed 13-bed student housing investment opportunity located two blocks west of the University of Southern California, located within the USC Department of Public Safety 24 Hour Patrol Zone. The subject property was designed and built by Tripalink, a leading student housing operator with a proven track record of delivering best in-class off-campus housing and providing tenants with an unparalleled housing experience through their tech-driven and data-oriented operation and development model. The property features a three-story duplex in the front and a free-standing ADU in the rear. The duplex was built in 2022, and the ADU was completed in 2024. The duplex consists The duplex consists of a two-bedroom two-bathroom townhouse unit with four single beds in the front and two-bedroom two-bathroom townhouse unit with six single beds in the rear. The ADU is a three bedroom, three bathroom leased as three single beds. The building was designed with a co-living philosophy and meticulously constructed with operational efficiency and a superior tenant experience in mind. All bedrooms were designed as co-living private suites and feature a private bathroom in addition to being secured by Smart Locks and Virtual Key Cards, powered by Tripalink's propriety mobile app and tenant portal. All bedrooms and common areas are delivered furnished to residents upon move-in and feature in-unit laundry and expansive kitchens; in addition to tenant-centric amenities such as bi-weekly cleaning of the common areas, WiFi coverage, covered utilities, 24/7 maintenance and community events. The subject property is a half-mile walk to the main University Park Campus of USC and less than a mile from USC Village. It also down the street from the Expo/Vermont metro rail station, allowing residents an easy commute to Downtown Los Angeles, Mid-City, and the Westside outside of their daily commute to campus. The offering presents a prime opportunity for an investor to acquire a fully recession-proof and passive student housing investment, directly adjacent to one of the leading private universities in the country. The 2022/2024 construction and best-in-class management also offer no deferred maintenance and strong in-place income, with a stabilized cash flow at a 6.68% CAP rate and 10.59GRM on current income.

Listing information courtesy of: Neema Ahadian, Marcus & Millichap 310-909-5444. *Based on information from the Association of REALTORS/Multiple Listing as of 02/13/2025 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.