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Listed by Daniel Lewin, DRE #01932742 • Younglewin Advisors, Inc.
$1,550,000
Est. payment /mo
7,003 Sqft Lot
New
1223 W 37th PL 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 CRPW26241175
Style Craftsman
Year Built 1904
Lot Size 7,003 Sqft
Property Sub-Type Triplex
Source California Regional MLS
Property Description
USC-Area 3-Unit Property - 7.04% Current Cap Rate with Approx. 20% Rental Upside, 5-Minute Walk to USC. 1223 W. 37th Place presents a 3-unit, 10-bedroom investment opportunity located a short 5-minute walk to the USC campus and within walking distance of the Metro Expo Line. The property consists of a classic 1904 front house configured as a 4 bed/4 bath and two rear 2-story townhome-style 3 bed/3 bath units, totaling approx. 3,964 SF on a large 7,003 SF lot. Interiors feature wood-style flooring, original built-in woodwork in the front house, and updated kitchens and bathrooms. All three units are currently leased, providing in-place income. Offered at $1,550,000, $516,667 per unit and $391 per square foot, at a 7.04% current cap rate and 10.33 GRM. Current rents total $12,510/month ($150,120/year), with projected market rents of $15,000/month ($180,000/year), reflecting an 8.61 GRM and 7.94% cap rate. Located within USC's DPS patrol 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. Some photos have been virtually enhanced.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Rooms
Kitchen Microwave, Oven Range - Gas, Refrigerator
Interior
Flooring Laminate
Laundry Laundry Area
Exterior
Pool None
Building
Lot Description Grade - Level
Water District - Public
Architectural Style Craftsman
Others
Tax ID 5040015024
Special Listing Condition Not Applicable
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