Property Detail

Description

We are pleased to present a rare investment opportunity: a brand-new ground-up construction property completed in 2024, located just west of USC at 1597 W. 37th Street. This thoughtfully designed asset features 27 bedrooms and 27 bathrooms, each with a private en-suite, offering versatility for multiple housing strategies including student rentals, affordable housing, co-living, or transitional housing. Offered at $3,650,000 ($135,000 per door), the property delivers a current cap rate of 6.69%, providing both immediate cash flow and long-term upside. Priced well below today's replacement cost, a basis that would be nearly impossible to replicate with current construction costs. This opportunity is further enhanced by favorable seller financing: 50% down with a 3% interest-only loan for 3 years! Designed with tenant comfort and operational efficiency in mind, the building includes spacious open-concept kitchens, dining and living areas, in-unit laundry facilities, and 10-foot ceilings with modern finishes. The property comes furnished with appliances installed, and all bedrooms are fully furnished (living rooms excluded). In addition, each floor is equipped with a washer and dryer for added tenant convenience. These features not only attract strong tenant demand but also support a variety of operating models, whether leased by the bed, by the room, or for program-based housing providers. Strategically located outside of the DPS patrol zone yet within close proximity to USC, the Expo/Vermont Metro E Line station, and cultural landmarks such as the LA Coliseum, BMO Stadium, California Science Center, and the upcoming Lucas Museum of Narrative Art, the property is well positioned to serve a broad tenant base. With its brand-new construction, flexible use potential, and attractive seller financing, 1597 W. 37th Street offers investors a unique chance to secure a low-maintenance asset in one of Los Angeles' most resilient rental markets.