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Listed by Daniel Lewin, DRE #01932742 • Younglewin Advisors, Inc.
$1,800,000
Est. payment /mo
6,602 Sqft Lot
Active
1241 W 37th DR Los Angeles, CA 90007
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Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26224491
Year Built 1907
Lot Size 6,602 Sqft
Property Sub-Type Triplex
Source California Regional MLS
Property 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 acc
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Interior
Laundry Other
Exterior
Pool None
Building
Lot Description Grade - Level
Water District - Public
Others
Tax ID 5040014026
Special Listing Condition Not Applicable
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