$1,800,000
+$27,000 cash back1241 W 37th Dr, Los Angeles, CA 90007
Listed by Daniel Lewin, DRE #01932742, Younglewin Advisors, Inc.
0
Beds
0
Baths
β
Sqft
6,602
Lot sqft
Property Highlights
Listing Provided Agent
- β’ Name: Daniel Lewin
- β’ DRE: 01932742
- β’ Email: dan@younglewin.com
- β’ Phone: -
Listing Provided Office
- β’ Name: Younglewin Advisors, Inc.
- β’ Email: -
- β’ Phone: 562-318-0215
Source
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.
Home Details
Interior
Appliances
- Laundry: Inside
Exterior
Parking & Lot
- Garage Spaces: 0
- Lot Size: 6,602 sqft
Utilities & Community
Utilities
- Water Source: Public, 3 separate electric meters, 3 separate gas meters
- Sewer: Public Sewer
Community
- Urban
Local Information
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Pinkmelon, Inc. is a licensed real estate broker and operates as a team of real estate agents, complying with all equal housing opportunity laws. All information presented herein is collected from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No guarantee is made as to the accuracy of any description. All measurements and square footage are approximate. This information is provided for general informational purposes only and should not be interpreted as legal, tax, or other professional advice outside the scope of real estate brokerage. This is not intended to solicit listings from other brokers.