1073 Exposition Blvd
Student Housing | 300ft From Expo/Vermont Metro Station | 650ft from USC Campus
Marketing description
- The Ben Lee Group is pleased to present 1073 Exposition Blvd, a newly constructed (2021) 44-bed student housing asset located less than a block West of USC and directly adjacent to the Viterbi School of Engineering, within the USC Department of Public Safety (DPS) patrol zone.
- Unlike the dorm-style, by-the-bed product that dominates new construction near campus, 1073 Exposition Blvd is built with conventional apartment layouts, elevator service, and roof-deck amenities. With the Expo/Vermont E Line station directly next door and USC just steps away, ownership has genuine optionality: the property can be run as premium by-the-bed student housing or just as easily as traditional market-rate apartments serving transit-oriented renters who commute to Downtown, Mid-City, and the Westside. That dual-demand flexibility de-risks the business plan and broadens the asset's appeal as additional supply comes online.
- The property comprises 16 units and 44 beds across a diverse mix of layouts — nine three-bedroom, six two-bedroom, and one five-bedroom unit — designed to attract a broad student base at multiple price points. All units are fully furnished and feature open, light-filled floor plans with wood-style flooring, quartz countertops, stainless steel appliances, in-unit laundry, and central HVAC.
- The property is offered at $7,950,000, or just $390 per square foot and $180,682 per bed. That basis sits significantly below both recently sold comparables as well as other competing on-market listings, despite the asset's positioning as an apartment-grade, elevator-served asset. The offering reflects a 6.60% current CAP and 10.45 GIM, with clear upside to a 7.57% CAP as in-place beds are marked to an achievable ~$1,500/bed market rate over seasonal turnover.
- With more than 46,000 students and roughly 60 percent living off campus, USC is one of the most reliable demand drivers in Los Angeles real estate. That off-campus population forms a structural, recession-resistant renter base that has held firm across market cycles.
- In February 2026, USC named Beong-Soo Kim its 13th president and brought on Dr. Carol Kim from NYU, where she led global recruitment, admissions, and financial aid, as its new vice president for enrollment management. Her arrival signals a deliberate push to grow and globalize the student body, which would only deepen the off-campus housing demand this investment is built on.
- Beyond its strong in-place cash flow, the property offers compelling tax advantages. Under the One Big Beautiful Bill Act, which permanently restored 100% bonus depreciation for assets acquired after January 19, 2025, a buyer can pair a cost segregation study with first-year bonus depreciation to immediately expense the building's short-life components and significantly shelter income in the early years of ownership. Investors are encouraged to contact the listing agents for a cost segregation feasibility study to maximize these accelerated depreciation benefits.
- 1073 Exposition Blvd offers investors a rare chance to acquire a turnkey, premium asset in one of Los Angeles' most durable rental submarkets. With a walk-to-campus location, transit at the doorstep, zero deferred maintenance, and a compelling sub-$400/SF entry basis, the property delivers immediate cash flow today while positioning new ownership for meaningful long-term upside.
Investment highlights
The Ben Lee Group is pleased to present 1073 Exposition Blvd, a newly constructed (2021) 16-unit, 44-bed multifamily investment opportunity located less than one block from the University of Southern California (USC) and directly adjacent to the USC Viterbi School of Engineering within the USC Department of Public Safety (DPS) patrol zone. Positioned next to the Expo/Vermont Metro E Line Station, the property benefits from exceptional walkability, transit connectivity, and consistent rental demand from both students and conventional apartment renters.
Unlike much of the newer student housing inventory surrounding USC, which is designed as dorm-style, by-the-bed housing, 1073 Exposition Blvd was built with apartment-grade construction featuring conventional unit layouts, elevator service, and rooftop amenities. This design creates unique operational flexibility, allowing ownership to continue operating the asset as premium student housing or transition to traditional market-rate apartments serving renters seeking convenient access to Downtown Los Angeles, Mid-City, Culver City, and the Westside via the Metro system.
The property consists of 16 fully furnished units across a diverse unit mix of nine three-bedroom units, six two-bedroom units, and one five-bedroom unit. Units feature open floor plans, wood-style flooring, quartz countertops, stainless steel appliances, central HVAC, in-unit laundry, and abundant natural light, providing a modern living experience that appeals to a broad tenant base.
Offered at $7,950,000, the property represents an attractive basis of approximately $390 per square foot and $180,682 per bed, significantly below replacement cost and below many competing assets in the USC submarket. The offering generates a 6.60% current cap rate and 10.45 gross income multiplier, with additional upside through rent growth as in-place rents are adjusted toward market levels during future leasing cycles.
USC remains one of the strongest housing demand drivers in Southern California, with an enrollment exceeding 46,000 students and a substantial portion of the student population residing off campus. The university's continued focus on enrollment growth, academic expansion, and global recruitment supports long-term demand for quality housing within walking distance of campus.
As a recently constructed asset, the property also offers potential tax advantages through cost segregation and accelerated depreciation strategies. Buyers are encouraged to consult with their tax advisors regarding eligibility and potential benefits.
With a premier walk-to-campus location, immediate access to rail transit, modern construction, elevator service, strong in-place cash flow, and a compelling sub-$400 per square foot acquisition basis, 1073 Exposition Blvd presents a rare opportunity to acquire a turnkey asset in one of Los Angeles' most durable and supply-constrained rental markets.
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