1271 W 39th Pl 8 Unit Apartment Building $5,338,281 CAD ($667,285 CAD/Unit) 5.35% Cap Rate Los Angeles, CA 90037

Marcus and Millichap is pleased to present an eight (8) unit apartment building located at 1271 West 39th Place in Los Angeles, California. The subject property is located in a prime South LA location in Exposition Park, south of Exposition Boulevard and west of Vermont Avenue.
Located adjacent to USC, this 2020-built property offers an excellent unit mix of one (1) one-bedroom, one (1) two-bedroom, and six (6) three-bedroom units. Each unit features in-unit washer and dryer, energy-efficient central HVAC, stainless steel appliances with refrigerator included, and two tandem parking spaces. The fully gated and security-monitored property also includes a vacant ±400 square foot space with potential for ADU conversion, gym, or storage income. The asset benefits from direct access to major corridors including Exposition Boulevard, Normandie Avenue, Western Avenue, Vermont Avenue, and Martin Luther King Jr. Boulevard, and is within close proximity to USC Village, BMO Stadium, the Natural History Museum, and the California Science Center.
Overall, the combination of 2020 new construction, a prime USC adjacent location, and the additional upside potential from the vacant ±400 square foot space presents a compelling investment opportunity to own a newer construction property with an option to get higher rents by renting to USC students.