Property Detail
Description
The Best Location for Value-add USC off Campus Student Housing investment opportunity, only 2 Blocks away to University of Southern California (USC), located in highly Desirable USC DPS Safety Patrol Zone. 100% Fully occupied by USC students with parental guarantees on leases, and pre-leased for the upcoming 2025-2026 school year with USC students. Currently collecting gross rents of $15,050/month, cap rate around 7%, GRM12.17. Highly demanding...easy access to all USC's landmarks, academic buildings, and entertainment options. Zoning LARD1.5. The subject property is composed of two separate structures (1238 W. 35th St. and 3554-3556 S Budlong Ave) and consists of 3 spacious units, with a unit mix consisting of (1) 6-bedroom + 3-bathroom unit of total rent $7850/month, and (2) 3-bedroom + 1-bathroom units of total rent $7200/month. The property has been recently fully updated/ remodeled - featuring laminated/wood floors, Newly painted, Updated kitchen with stainless steel kitchen appliances, lots of updated cabinets, pantry and counter tops, copper plumbing throughout ( buyer verify). The investment boasts spacious floor plans, secured gated entry, and on-site laundry. The property is approximately 3450 s.f., 7094 s.f. lot, 12 bed, 5 bath, living rooms, and on-site laundry room...This property has charming turn of the century details that you will adore. As a bonus, this Property offers about 11 Private on-site Parking Spaces which the students loved so much, and 3 individually metered for gas and electricity and 2 individual water meters. The asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The property is collecting gross rents of $15,050/month. Don't miss!
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Listing provided courtesy of Gina Ma of IRN Realty. Last updated 2025-07-18 08:11:24.000000. Listing information © 2025 CRMLS.
John Collins
DRE# 01948188
888 Prospect St. Suite 140
La Jolla, CA 92037
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858.252.0200
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Address
888 Prospect St. Suite 140 La Jolla CA 92037
Coldwell Banker Realty, CalBRE# 00616212
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