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$ 1,550,000
Est. payment /mo
New
1223 W 37th Place Los Angeles, CA 90007
7 Beds
7 Baths
7,003 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26241175
Bedrooms 7
Lot Size 7,003 Sqft
Property Sub-Type Res Income 2-4 Units
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
Zoning Assessor
Direction Approx. 5-minute walk west of USC campus
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5040015024
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Listed by Daniel Lewin, DRE#01932742 Younglewin Advisors, Inc.
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