1325 W 37TH Drive - Los Angeles, CA 90007
BRAND NEW CONSTRUCTION! 4.7% current CAP. 6.3% upside potential CAP! Self-managed, very high demand area, USC Student Housing situated in Department of Public Safety Zone in quiet residential stretch of University Park/Expo with walking distance to all new USC Village Plaza, minutes from Expo Light Rail station, Banc of CA Stadium (LAFC), The Shrine, The Coliseum & more. One SFR in rear, one DUPLEX in front. Unit mix of 3 X (3 BED 4 BATHS). Each unit has 3 SUPER HUGE bedrooms that can be split and/or shared by 2 persons per bedroom w/private attached bathroom w/ shower & tub. Currently completely leased out through full USC calendar year 7/2019 collecting $162,000 a year. However, due to super-large sized bedroom, new owner could EASILY place 2 students per bedroom at $1,000 each and collect $216,000 a year. Current owner just didn't want to bother with it so instead leased out to 3 graduate students per unit. Landlord pays $0 utilities. Tenants pay ALL utilities, separately metered.