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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$1,550,000

Est. payment - /mo

7,004 Sqft Lot

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Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW26241175

HOA Y/N No

Year Built 1904

Lot Size 7,004 Sqft

Property Sub-Type Triplex

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

Zoning LARD2

Interior

Flooring Laminate, Wood

Fireplace No

Appliance Gas Range, Microwave, Refrigerator

Laundry Common Area

Exterior

Fence Wood

Pool None

Community Features Urban

Private Pool No

Building

Lot Description Level, Rectangular Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Architectural Style Craftsman

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5040015024

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

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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1223 W 37th PL Los Angeles, CA 90007