We are pleased to present 1286 W 35th Pl, a newly constructed 25-bed student housing opportunity located just west of the University of Southern California, within the USC Department of Public Safety 24 Hour Patrol Zone. The property is currently in lease up, drawing from the strong demand for off-campus… Read More housing from the 47,000 students currently enrolled at the University of Southern California. Approximately ~60% of all USC students live in off-campus housing, offering new ownership predictable demand and a low vacancy rate tied to one of the nation's top academic institutions. USC continues to rise in academic rankings, setting a record high applications and record low acceptance rate in 2024. The property features two three-bedroom units, two five-bedroom units, and one six-bedroom unit, along with three tandem parking spaces and one single space. All units are fully furnished and offer spacious floor plans with abundant natural light and contemporary finishes, including brand new flooring, tile bathrooms with modern vanities and quartz countertops, and kitchens equipped with stainless steel appliances, built-in microwaves, solid-surface counters, and ample cabinetry. Additional highlights include built-in closets, in-unit washer and dryer, central heating and air conditioning, and double-pane windows. The bedrooms feature a mix of double occupancy, single occupancy ensuite bathroom and single occupancy shared bathroom, offering bedrooms across a range of price points to attract students seeking off-campus accommodation at varying price points. At the asking price, the property is being offered at $199,552 per bed with a projected 6.57% CAP rate and 11.34 GIM upon stabilization. Multiple bedrooms in the property are oversized, offering an investor further upside through additional double occupancy bedrooms, bringing the total potential bed count to 27. The property also features solar panels, tankless water heaters, security camera system, and is separately metered for water, gas and electricity. 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 is 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. Read Less
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