6,603 Sqft Lot
6,603 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26224491
HOA Y/N No
Year Built 1907
Lot Size 6,603 Sqft
Property Sub-Type Triplex
Property Description
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.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Interior
Fireplace No
Laundry Inside
Exterior
Pool None
Community Features Urban
Private Pool No
Building
Lot Description Level, Rectangular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5040014026
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Nearby Locations
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