New Listing
1241 W 37th Drive,Los Angeles, CA 90007
Los Angeles, CA 90007
Description
Unique Opportunity - 3-unit, 10-bedroom USC-area investment just a 5-minute walk to campus with2 units delivered vacant. 1241 W. 37th Drive offers two buildings totaling approx. 3,727 SF on a 6,600 SF lot with ample on-site parking. As a 3-unit property, it may qualify for residential financing, and 2 of the 3 units will be delivered vacant, giving a buyer the flexibility to lease to non-student tenants or achieve a student housing premium at market for the upcoming academic year. Front house (1907): a fully renovated 4 bed/4 bath home, currently occupied. Rear building (2013): a 2-story townhome-style building with two 3 bed/3 bath units, each with in-unit laundry, both vacant. Units are separately metered for electricity and gas (as applicable) with tenants paying directly. Property-wide private WiFi and 24/7 monitored security. Offered at $1,800,000, $600,000 per unit and $483 per SF. Projected market rents total $12,800/month ($153,600/year), reflecting a 11.27 market GRM and 5.91% market cap rate, with a price per SF below the recent USC-area sales average of approx. $585 per SF. Located within USC's DPS patrol zone and free Lyft ride zone, steps from Exposition Park, the LA Memorial Coliseum, BMO Stadium, the new Lucas Museum of Narrative Art, and Expo Line access, with the area set to host major events for the 2028 Olympic Games. May be purchased together with 1230 W. 37th Drive across the street or separately. Do not disturb occupant.
Details
| MLS # | PW26224491 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1907 |
| Listing Provided By | Younglewin Advisors, Inc. | Daniel Lewin |
Features
| SQ Feet | 3,727 |
|---|---|
| Story(s) | 2 |
| Units | 3 |
| Building(s) | 2 |
| Acreage | 0.15 |
Exterior
| Lot Features | Level, Rectangular Lot |
|---|
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90007 |
| Area | C16 Mid Los Angeles |
| Listing VS Median (in 90007) | |
Price: $1,800,000 low | high Med: $4,975 sqft: 3,727 low | high Med: 1,620 $ / sqft: $483 low | high Med: $3 | |
Market Activity 90007
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90007 |
| Area | C16 Mid Los Angeles |
| Listing VS Median (in 90007) | |
Price: $1,800,000 low | high Med: $4,975 sqft: 3,727 low | high Med: 1,620 $ / sqft: $483 low | high Med: $3 | |
 | $1,425,0001375 W 37th DriveLos Angeles, CA 90007 |