We are pleased to offer the opportunity to acquire this brand new construction five (5) unit, 15-bedroom, student housing apartment complex, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). This turnkey, new construction investment features brand new fully furnished bedrooms, brand new hardwood floors, stainless steel kitchen appliances, quartz counter tops, tiled showers with glass enclosures, in-unit washer & dryers, and high-end finishes throughout the units. The investment features a new roof, new copper plumbing, double pane windows, and individually metered for all utilities: gas, electricity, & water. The building is approximately 5,448 rentable square feet on a 6,800 square foot lot, consisting of (2) 3-bedroom + 3-bathroom units, (2) 4-bedroom + 3-bathroom units, and (1) 1-bedroom + 1-bathrom unit. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The investment is 100% occupied with USC students, and fully leased for the 2024-2025 year, with a gross income of $25,348/month. There's approximately 15% potential upside in rents, which an investor can achieve closer to about $27,000/month. The investment is priced at a current 6.45% Cap Rate & 12.6x GRM.
This property is $2.5M more than the Median Sold Price and $24/SqFt more than other homes in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #25477833
Listing Office:
Office Name: KW Advisors
Office Phone: (310) 482-2200
Listing Agent: Davis Saadian
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 1/9/2025, 11:21:02 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Aug 05, 2019
Aug 05, 2019Home Sold
$950,000
Oct 20, 1995
Oct 20, 1995Home Sold
$135,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$11,672
$959,841
2020
$4,488
$950,000
2019
$4,367
$356,087
2018
$4,276
$349,105
2017
$4,276
$342,261
History based on county public records data.
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NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
3
/10
STEM Preparatory Elementary School
1374 W 35th St
Distance between this listing and this school0.06 miles
Public Charter Grades KG-5
4
/10
Lenicia B. Weemes Elementary
1260 W 36th Pl
Distance between this listing and this school0.18 miles
Public District Grades PK-5
3
/10
John W. Mack Elementary
3020 S Catalina St
Distance between this listing and this school0.42 miles
Public District Grades KG-5
Nearby Schools
5
/10
Crown Preparatory Academy
2055 W 24th St
Distance between this listing and this school1.02 miles
Public Charter Grades 5-8
3
/10
Kipp Scholar Academy
1729 W Martin Luther King Jr Blvd
Distance between this listing and this school1.04 miles
Public Charter Grades 5-8
4
/10
Camino Nuevo Elementary #3
1723 Cordova St
Distance between this listing and this school1.12 miles
Public Charter Grades KG-8
Nearby Schools
6
/10
Foshay Learning Center
3751 S Harvard Blvd
Distance between this listing and this school0.51 miles
Public District Grades 6-12
8
/10
Ednovate - Usc Hybrid High College Preparatory
3939 S Vermont Ave
Distance between this listing and this school0.80 miles
Public Charter Grades 9-12
8
/10
Thirty-Second Street Usc Performing Arts
822 W 32nd St
Distance between this listing and this school0.97 miles
The neighbors living near this home have an average income of $41,625. Typical income of Los Angeles, CA residents is between $35k-100k annually. The most common type of family is single, no kids. Residents of this area typically have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 1372 W 35th Pl
What is the listing price of this property?
The listing price of 1372 W 35th Pl property is $3,625,000.
What type of property is this?
The property 1372 W 35th Pl is a house located in Los Angeles, California, 90007.
Is this property for sale now?
Active Listing: 1372 W 35th Pl is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $11,672 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on August 5, 2019 for $950,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 1372 W 35th Pl has 15 bedrooms and 13 bathrooms.
What is the square footage of this property?
The property 1372 W 35th Pl is 5,448 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 1372 W 35th Pl is 2022.
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This home is located at 1372 W 35th Pl in Los Angeles, CA and zip code 90007 in the South LA neighborhood. This 5,448 square foot home, which was built in 2022, sits on a 0.16 acre lot. Features: 15 bedrooms, 13 bathrooms. It has been listed on Rocket Homes since January 07, 2025 and is currently priced at $3,625,000.
While more than 524 listings in Los Angeles, CA in December 2024 were sold above asking price, there were more than 203 listings sold at asking price, and more than 740 were sold below. The number of listings in Los Angeles, CA decreased by 5.3% between November 2024 and December 2024. Listings spent 41 days on the market in December 2024, and had a median list price of $1,026,634 during the same period.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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