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Student Housing

1258 W 37th Drive

1258 W 37th Dr, Los Angeles, CA 90007

Listing Price: $3,200,000

Cap Rate
6.04%
Number of Units
3
GRM
11.57
Price/Unit
$1,066,667
Price/Gross SF
$769.05
Gross SF
4,161

Investment Overview

Marcus & Millichap is 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 was built in 2022 and features a three-story duplex in the front and a free-standing ADU in the rear. 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 currently under construction and will be delivered as a three-bedroom, three-bathroom leased under double occupancy for the 2023 Fall Semester.

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 construction and best-in-class management also offer no deferred maintenance and strong in-place income, with the property being delivered fully occupied for the 2023-2024 academic year, offering an investor immediate stabilized cash flow at a 6.04% CAP rate and 11.57 GRM on current income.

Investment Highlights

  • Newly constructed 13-bed student housing investment opportunity located two blocks west of the University of Southern California, within the USC Department of Public Safety 24 Hour Patrol Zone
  • Designed and developed by Tripalink, a leading student housing operator with a proven track record of delivering best-in-class off-campus housing
  • The ADU is currently under construction and will be delivered as a three-bedroom, three-bathroom leased under double occupancy for the 2023 Fall Semester.
  • Built in 2022 and features a three-story duplex in the front and a free-standing ADU in the rear. The duplex consists of a two-bedroom two-bathroom townhouse unit with four single beds in the front and a two-bedroom two-bathroom townhouse unit with six single beds in the rear
  • Half-mile walk to the main University Park Campus of USC and less than a mile from USC Village. 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.
  • Prime opportunity to acquire a newly built, recession-proof passive investment with no deferred maintenance and strong in-place income.

Exclusively Listed By

Financing By

Student Housing

1258 W 37th Drive

Listing Price: $3,200,000

Cap Rate
6.04%
Number of Units
3
GRM
11.57
Price/Unit
$1,066,667
Price/Gross SF
$769.05
Gross SF
4,161

Investment Highlights

  • Newly constructed 13-bed student housing investment opportunity located two blocks west of the University of Southern California, within the USC Department of Public Safety 24 Hour Patrol Zone
  • Designed and developed by Tripalink, a leading student housing operator with a proven track record of delivering best-in-class off-campus housing
  • The ADU is currently under construction and will be delivered as a three-bedroom, three-bathroom leased under double occupancy for the 2023 Fall Semester.
  • Built in 2022 and features a three-story duplex in the front and a free-standing ADU in the rear. The duplex consists of a two-bedroom two-bathroom townhouse unit with four single beds in the front and a two-bedroom two-bathroom townhouse unit with six single beds in the rear
  • Half-mile walk to the main University Park Campus of USC and less than a mile from USC Village. 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.
  • Prime opportunity to acquire a newly built, recession-proof passive investment with no deferred maintenance and strong in-place income.

Investment Overview

Marcus & Millichap is 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 was built in 2022 and features a three-story duplex in the front and a free-standing ADU in the rear. 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 currently under construction and will be delivered as a three-bedroom, three-bathroom leased under double occupancy for the 2023 Fall Semester. 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 construction and best-in-class management also offer no deferred maintenance and strong in-place income, with the property being delivered fully occupied for the 2023-2024 academic year, offering an investor immediate stabilized cash flow at a 6.04% CAP rate and 11.57 GRM on current income.

Exclusively Listed By

Financing By

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