3754 S Harvard Blvd
Fully Master Leased | New Construction | Priced Below Replacement Cost
Marketing description
• 2025 New Construction Student Housing Asset – Newly completed in 2025, the property offers investors a turnkey, institutional-quality asset with modern construction and virtually no deferred maintenance.
• Master Lease Provides Guaranteed Cash Flow – The property is subject to a master lease guaranteeing full occupancy with 5% annual rent escalations, delivering immediate and predictable income from day one.
• Passive Ownership Structure – Under the master lease arrangement, the tenant is responsible for utilities, maintenance, and day-to-day operations, significantly reducing management responsibilities and landlord risk.
• Attractive Basis Below Replacement Cost – Offered at approximately $397 per square foot, the acquisition basis represents a substantial discount to current replacement cost, creating a durable competitive advantage and supporting long-term value preservation.
• Premium Yield Relative to Traditional Multifamily – The property's 6.17% cap rate provides investors with an attractive yield compared to many rent-controlled multifamily assets trading at significantly lower returns throughout Los Angeles.
• 36 Beds with Private Bathrooms Throughout – Consisting of three fully furnished units and 36 beds, each bedroom features its own private bathroom, maximizing tenant privacy and enhancing overall rental appeal.
• Fully Furnished Turnkey Investment – All units are delivered fully furnished, allowing for seamless operations while minimizing additional capital expenditures for new ownership.
• High-End Interior Finishes Drive Tenant Demand – The property features quartz countertops, stainless steel appliances, tiled showers with glass enclosures, modern flooring, and in-unit washers and dryers throughout.
• Potential Rental Upside Beyond In-Place Income – Current lease terms provide stable cash flow today while offering future upside through rent growth and repositioning opportunities upon lease expiration.
• Transit-Oriented Exposition Park Location – Located near the Expo/Vermont Metro Station, residents enjoy convenient access to Downtown Los Angeles, Mid-City, USC, and the Westside.
• Low-Maintenance Asset with Long-Term Income Stability – New construction quality, a master lease structure, and reduced operating responsibilities combine to create a highly predictable and efficient investment profile.
• Potential 100% Bonus Depreciation Benefits – Investors may benefit from accelerated depreciation through a cost segregation study, creating the potential for significant tax savings during the early years of ownership.
Investment highlights
The Ben Lee Group is pleased to present 3754 S Harvard Blvd, a 2025 ground-up new construction asset in the Exposition Park neighborhood of Los Angeles. Totaling approximately 9,560 rentable square feet across three fully furnished units and 36 beds — each with its own private bathroom — the property features premium finishes throughout — quartz countertops, stainless steel appliances, tiled showers with glass enclosures, new flooring, and in-unit washers and dryers — minimizing near-term capital requirements and maximizing tenant appeal.
At $397 per square foot, the acquisition basis represents a significant discount to current replacement cost for comparable new construction in Los Angeles. This pricing dynamic creates a structural competitive advantage — new entrants cannot deliver a comparable asset at a lower cost basis, effectively limiting the threat of supply-driven rent compression. For investors, this translates to a more defensible asset value and greater long-term income stability.
The property operates under a master lease guaranteeing full occupancy with 5% annual rent escalations, providing investors with immediate, structured cash flow and no day-to-day management obligations. Under the lease structure, the tenant assumes responsibility for utilities, maintenance, and property operations — significantly reducing landlord exposure and delivering a more predictable, low-touch income stream. In-place rents are further supported by meaningful upside to market, offering investors a clear path to enhanced yields upon lease maturity.
The current 6.17% cap rate offers a premium yield relative to conventional RSO multifamily assets trading at compressed rates across Los Angeles, with direct access to the Expo/Vermont Metro Station providing tenants connectivity to Downtown, Mid-City, and the Westside.
Beyond its strong in-place cash flow, the property offers compelling tax advantages, with potential eligibility for 100% bonus depreciation under current legislation. Prospective investors are encouraged to consult the listing agents regarding a cost segregation feasibility study to fully assess and optimize these accelerated depreciation benefits.
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