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1205 W 37th Dr, Los Angeles, CA 90007
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1205 W 37th Dr Los Angeles, CA 90007

$3,950,000
  • 14 Beds
  • 14 Baths
  • 4,956 Sq.Ft.
For Sale
$3,950,000 Get Pre-Qualified
Map preview of 1205 W 37th Dr, Los Angeles, CA 90007

Property Overview: 1205 W 37th Dr Los Angeles, CA has 14 bedrooms, 14 bathrooms, 4,956 living square feet and 6,603 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are pleased to present an opportunity to invest in USC student housing. It is located within a mile of the main campus and within a couple of blocks of the Metro Expo Line. The asset consists of two buildings. There is a completely renovated, 5-bedroom 5-bathroom single family residence at the front of the lot with each bedroom being rented out individually. Right behind it is a 3 story Duplex and ADU. The Duplex was built in 2020 and is comprised of (2) 3-bedroom 3-bathroom units. The ADU, which was completed in 2023, is also 3 bedrooms and 3 bathrooms. The entire complex is leased to USC students. There is high demand for newer, updated student housing, which makes this investment even more attractive. The location is situated in the USC DPS security zone, which provides tenants and owners with peace of mind. The site is also within walking distance to the Metro Expo Line station offering easy access to everything LA, from the beach to DTLA. It is also a stone's throw from the LA Coliseum, home of the USC Trojan Football team, the LAFC Soccer Stadium, Exposition Park, the Natural History Museum of LA County and the George Lucas Museum of Narrative Art.

Listed by Jerome McAlpin | BRE #00939725 | McAlpin & Company
Last checked: 5 minutes ago | Last updated: September 8th, 2024 | Source CRMLS | DOM: 18

Home details

Lot Sq. Ft
6,603
HOA Dues
$0/mo
Year built
1915
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24433527
City
Los Angeles
County
Los Angeles
Time on Site
20 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 3
  • Furnishing: Unfurnished
  • Actual Rent: $5,100
  • Total Rent: $5,100
  • Pro Forma/Market Rent: $5,250
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 3
  • Furnishing: Unfurnished
  • Actual Rent: $5,250
  • Total Rent: $5,250
  • Pro Forma/Market Rent: $5,250
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 5
  • # of Baths: 5
  • Furnishing: Unfurnished
  • Actual Rent: $6,775
  • Total Rent: $6,775
  • Pro Forma/Market Rent: $7,500
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 3
  • Furnishing: Unfurnished
  • Actual Rent: $5,025
  • Total Rent: $5,025
  • Pro Forma/Market Rent: $5,250
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.13%
  • Gross Rent Multiplier: 14.8
  • Gross Scheduled Income: --
  • Net Operating Income: $202,593
  • Gross Operating Income: $265,800
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 1205 W 37th Dr

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Property Details for 1205 W 37th Dr

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Room Information
  • Flooring: Laminate
Kitchen Information
  • Has Appliances
  • Dishwasher, Disposal, Refrigerator
Interior Features
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Has View
  • View: City Lights
  • Total # of Units: 4
  • Parcel Number: 5040014020
  • Architectural Style: Contemporary
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: North of Exposition and East of Normandie Avenue
View more facts & features

Local Los Angeles Agent

Sale History for 1205 W 37th Dr

Last sold for $3,220,000 on February 9th, 2023

  • August, 2024

  • Aug 29, 2024

    Date

    Active

    CRMLS: 24433527

    $3,950,000

    Price

  • February, 2023

  • Feb 9, 2023

    Date

    Sold

    CRMLS: PW22163303

    $3,220,000

    Price

  • Jul 26, 2022

    Date

    Active

    CRMLS: PW22163303

    $3,250,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present a brand-new construction student housing investment property located at 1205 West 37th Drive in Los Angeles, CA - one block from the University of Southern California (USC). The property consists of a fully-renovated 5 Bed/5 Bath House, and three new construction 3 Bed/3 Bath units. Two of the units were built in 2020 and one unit is currently in process of construction for a garage conversion Accessory Dwelling Unit (ADU). The house is master-leased to a student housing operator and the two new construction 3/3 units are fully leased to students. Owner is in process of completing the construction and will deliver the property fully completed and fully leased at the close of escrow. Owner will also consider an offer as-is with a new buyer completing the ADU construction themselves. The University of Southern California is a private research university in Los Angeles, California. Founded in 1880, it is the oldest private research university in the state. For the 2021–22 academic year, there were 20,000 students enrolled in four-year undergraduate programs. USC also has 27,500 graduate and professional students in a number of different programs, including business, law, engineering, social work, occupational therapy, pharmacy, and medicine. It is the largest private employer in the City of Los Angeles and generates $8 billion in economic impact on Los Angeles and California. The area surrounding the campus has seen and will continue to see sustained appreciation due to the recently opened LA Metro Exposition Light Rail line, the LAFC Banc of California stadium and the soon-to-be completed $1 Billion George Lucas Narrative Art museum that is currently under construction. USC recently completed (less than a mile from the subject property) the $700-Million Mixed-Use Project at the University Village offering major national retailers, open spaces, student housing and innovative academic collaboration spaces.

  • June, 2021

  • Jun 22, 2021

    Date

    Active

    CRMLS: 21752106

    $2,650,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present an opportunity to purchase a Brand New 11 Bed/Bath Student Housing Apartment Building located at 1205-1207 1/2 W 37th Dr, Los Angeles, CA 90007. This prime USC Housing property is a 3 Unit Student Housing Development configured as 11 Beds/Baths. The property consists of a brand new 2020 built, three story, walk up duplex, and one 1910 built (2019 Fully Remodeled), single story, single family rental house that has been extensively renovated. The first floor of the duplex units includes parking for all the units. The second floor of the duplex units includes one bedroom with en-suite bath and a kitchen/living room area. The third floor of the duplex units includes two bedrooms each with en-suite bathrooms. The Project is equipped with modern appliances and features such as Central Heating and AC, Refrigerator, Stove Range Oven, Microwave, Dishwasher, and Washer and Dryer located within the unit. The subject property is located one block away from the USCs West entrance on Vermont and West 37th Dr and other local businesses such as Taco Bell, Smart & Final, Super Cuts, Citi Bank, ToGos, and AT&T. This property can be purchased individually or as part of a portfolio. Please call for more info!

  • June, 2019

  • Jun 14, 2019

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • December, 2018

  • Dec 31, 2018

    Date

    Sold

    CRMLS: PW18252205

    $975,000

    Price

  • Nov 24, 2018

    Date

    Pending

    CRMLS: PW18252205

    $950,000

    Price

  • Nov 12, 2018

    Date

    Active

    CRMLS: PW18252205

    $950,000

    Price

  • Nov 2, 2018

    Date

    Pending

    CRMLS: PW18252205

    $950,000

    Price

  • Oct 18, 2018

    Date

    Active

    CRMLS: PW18252205

    $950,000

    Price

  • Listing provided courtesy of CRMLS

    USC STUDENT HOUSING INVESTMENT OPPORTUNITY on this LARD2 zoned property which allows for the construction of up to six units (buyer to verify with the City of Los Angeles, Broker makes no warranties) in this highly sought after area. Situated within a block and a half of the University of Southern California campus. The property is a short walking distance from Metro Expo light rail, connecting downtown Los Angeles to West Los Angeles. Property is vacant with no tenants and alley access to the rear.

  • December, 2018

  • Dec 31, 2018

    Date

    Sold (Public Records)

    Public Records

    $975,000

    Price

Show More

Tax History for 1205 W 37th Dr

Assessed Value (2020): $994,500
Year Land Value Improved Value Assessed Value
2020 $721,650 $272,850 $994,500

Home Value Compared to the Market

This property vs the competition

1205 W 37th Dr is listed 229.17% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $768 and this home is listed at $797.01 per/sqft which puts the price per square foot 3.78% higher than the median price per square foot for the city of Los Angeles.

About 1205 W 37th Dr

Detailed summary of property

1205 W 37th Dr is a multi family located in Los Angeles, CA 90007 and is currently for sale. This multi family property offers 14 bedrooms, 14 bathrooms, roughly 4,956 living square feet, and sits on an approximately 6,603 square foot lot. 1205 W 37th Dr was first listed on ArdentRealEstateGroup.com on August 30, 2024. The homeowner is currently asking $3,950,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $768. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 229.17% higher than the median priced home. Local competing homes currently for sale include 1242 S Harvard Blvd, 1554 S Gramercy Pl and 1929 Arlington Ave. While the average home in Los Angeles, CA is selling in 106 days, 1205 W 37th Dr has a days on market of 18 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 1205 W 37th Dr Los Angeles, CA 90007 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1205 W 37th Dr

Public county record property details
Beds
3
Baths
1
Year built
1915
Sq. Ft.
1,738
Lot Size
6,600
Stories
--
Type
Single Family Residential
Pool
No
Spa
No
County
Los Angeles
Lot#
21
APN
5040-014-020

The source for these homes facts are from public records.

90007 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,495,000
Median List Price/Sq.Ft.
$610
Median Sold Price
$1,025,000
Median Sold Price/Sq.Ft.
$777
Total Inventory
16
Median Sale to List Price %
100%
Avg Days on Market
0
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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