$ 3,250,000
-
$3,250,000
Price -
19
Bed -
11
Bath -
7,162
SqFt -
0.16
Acre
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About the Listing CLW-X7252101 - CLW-C114727
We are pleased to present "The Bryce", a 9-unit, 20-bedroom student housing apartment complex located within the highly desirable Department of Public Safety (DPS) Patrol Zone, approximately one block West of the USC campus & Village. Built in 1965, the property sits on a 6,970 square foot lot with approximately 7,162 square feet of building area and offers 9 gated on-site parking spaces. The property is currently 100% leased and generates $25,000/month of gross income, comprised of $24,850 in scheduled rental income plus approximately $150 in laundry income, representing $300,000 in scheduled annual income. At the offering price, the investment provides an attractive 7.5% current cap rate and a 10.9x current gross rent multiplier (GRM). Approximately $500,000 has been invested in capital improvements for this property. The entire property has been extensively renovated with improvements that include updated kitchens, bathrooms and bedrooms; copper plumbing upgrades; electrical system improvements; double-pane windows; new vinyl plank and tile flooring; new tubs, vanities, mirrors and doors; and updated interior and exterior paint. Additional property improvements include new security camera systems, automated entry gates, repaved and restriped parking areas, and completed seismic retrofits associated with tuck-under parking. The units feature in-unit washers and dryers, and wall-mounted televisions. Tenants are responsible for their utilities, helping to minimize landlord operating expenses. The unit mix consists of (1) studio unit, (3) 2-bedroom +1-bathroom units, (2) 2-bedroom + 2-bathroom units, and (3) 3-bedroom + 1-bathroom units, offering a diversified layout mix suited to a range of student housing preferences.
Listing Highlights for 1287 W 37th Pl
Interior Details
- Bedrooms: 19
- Bathrooms: 11 Full
- Appliances: Disposal, Refrigerator, Dryer, Washer
- Air Cond: Electric
- Heating: Electric,Heat Pump
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 9
- Zoning: LARD2
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Gated,Private
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5040015035
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
1287 W 37th Pl Los Angeles, CA 90007
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