1344 W 37th Pl
New Construction | Student Housing Investment Opportunity | Located within DPS Patrol Zone
Marketing description
• High-Yield USC Student Housing Investment – Offered at a 7.95% CAP rate and 8.98 GIM, the property delivers an attractive yield compared to conventional multifamily assets throughout Los Angeles.
• Prime Location Within USC DPS Patrol Zone – Located just west of USC's University Park Campus and within the Department of Public Safety patrol zone, the property benefits from one of the university's most desirable off-campus housing locations.
• Strong and Durable Student Housing Demand – USC enrolls more than 46,000 students, with approximately 65% living off campus, creating a deep and recurring tenant pool supported by record application volume and continued enrollment growth.
• Efficient 18-Bed Configuration – The property consists of three 6-bedroom, 6-bathroom units, creating a highly efficient operating structure while maximizing rental income potential.
• Simple and Scalable Management Structure – The uniform unit configuration streamlines leasing, maintenance, and operations, reducing management complexity and enhancing ownership efficiency.
• Flexible Leasing Strategy Supports Occupancy – Each unit is designed to accommodate both individual student renters and smaller groups, allowing ownership to adapt leasing strategies based on market demand.
• Walkable to USC and Major Student Amenities – Residents enjoy convenient access to USC's University Park Campus, USC Village, and the surrounding retail, dining, and entertainment amenities that support student life.
• Excellent Transit Connectivity – Located near the Exposition/Vermont Metro Station, the property provides direct access to Downtown Los Angeles, Mid-City, and the Westside.
• Demonstrated Leasing Momentum and Occupancy Stability – Strong historical occupancy, renewal activity, and pre-leasing performance for the 2026–2027 academic year support confidence in the property's ongoing income stream.
• SB 1211 ADU Development Upside – The approximately 6,600-square-foot lot may allow for the by-right addition of detached ADUs under SB 1211, creating a unique opportunity to increase density, rental income, and overall asset value.
• Potential Accelerated Depreciation Benefits – Investors may benefit from cost segregation and accelerated depreciation strategies, creating the opportunity to enhance after-tax cash flow during the early years of ownership.
• Newer Construction with Limited Capital Requirements – Modern construction and updated systems help minimize near-term maintenance obligations and future capital expenditures.
• Stabilized Asset in a Proven USC Submarket – Combining strong in-place cash flow, value-add potential, and one of the nation's most resilient student housing markets, the property offers investors both current income and long-term appreciation potential.
Investment highlights
The Ben Lee Group is pleased to present 1344 W 37th Pl, a newer construction 18-bed student housing asset located just West of USC’s University Park Campus within the USC Department of Public Safety (DPS) patrol zone.
1344 W 37th Pl is offered at a 7.95% cap rate and 8.98 GIM, providing a stronger yield compared to many conventional multifamily assets currently trading at lower cap rates. Student housing near USC benefits from structurally resilient demand supported by consistent enrollment, shorter lease cycles, and a tenant base less correlated with traditional economic drivers. The property’s proximity to USC’s Viterbi School of Engineering further supports durable, location-driven demand.
The property features a highly efficient three-unit configuration, comprised of three 6-bedroom, 6-bathroom units. The intuitive layout offers a much simpler and more manageable operating structure for new ownership. Each unit is designed to support flexible leasing strategies, allowing owners to cater to both small groups and individual student renters. The efficient design and balanced unit mix align well with consistent student housing demand while minimizing management complexity.
The property is within walking distance to USC’s University Park Campus, less than one mile from USC Village, and near the Exposition/Vermont Metro Station, providing convenient access to Downtown Los Angeles, Mid-City, and the Westside.
USC enrolls over 46,000 students, with approximately 65 percent living off campus, creating a deep pool of rental demand. The university continutes to climb in national rankings and received a record 83,488 freshman applications for Fall 2025.
The property has demonstrated strong renewal activity and pre-leasing momentum for the 2026–2027 academic year, supported by historically strong occupancy levels. The existing tenant base provides stable in-place cash flow and reduced leasing uncertainty.
1344 W 37th Pl also offers significant value-add potential through SB 1211, which permits the "by-right" addition of detached ADUs on this 6,600 square foot lot to maximize density and rental yield in the high-demand USC submarket.
Beyond its in-place cash flow, the property offers potential tax advantages. Multifamily assets may qualify for accelerated depreciation strategies, including cost segregation, allowing investors to enhance early-year cash flow.
1344 W 37th Pl represents a stabilized, newer construction student housing investment in one of Los Angeles’ most durable rental submarkets.
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