1241 W 37th DR, Los Angeles, CA 90007
1241 W 37th DR, Los Angeles, CA 90007
1241 W 37th DR, Los Angeles, CA 90007
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$1,800,000
Est. payment /mo
6,603 Sqft Lot
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UPDATED:

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

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.

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

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Listed by Daniel Lewin Younglewin Advisors, Inc. 424-224-9344, DRE #01932742

NEARBY SCHOOL & BUSINESS

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