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1258 W 37th Dr, Los Angeles, CA 90007
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1258 W 37th Dr Los Angeles, CA 90007

$3,100,000
  • 7 Beds
  • 7 Baths
  • 4,161 Sq.Ft.
For Sale
$3,100,000 Get Pre-Qualified
Map preview of 1258 W 37th Dr, Los Angeles, CA 90007

Property Overview: 1258 W 37th Dr Los Angeles, CA has 7 bedrooms, 7 bathrooms, 4,161 living square feet and 4,319 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: Newly constructed 13-bed student housing investment opportunity located two blocks west of the University ofSouthern California, within the USC Department of Public Safety 24 Hour Patrol Zone.Designed and developed by Tripalink, a leading student housing operator with a proven track record of deliveringbest-in-class off-campus housing and providing tenants with an unparalleled housing experience through their techdrivenand data-oriented operation and development model.The property features a three-story duplex in the front and a free-standing ADU in the rear. The duplex wasbuilt in 2022, and the ADU was completed in 2024. The duplex consistslex consists of a two-bedroom twobathroomtownhouse unit with four single beds in the front and a two-bedroom two-bathroom townhouse unitwith six single beds in the rear. The ADU is a three bedroom, three bathroom leased as three single beds.Half-mile walk to the main University Park Campus of USC and less than a mile from USC Village.Down the street from the Expo/Vermont metro rail station, allowing residents an easy commute to Downtown LosAngeles, Mid-City, and the Westside outside of their daily commute to campus.Designed with a co-living philosophy and meticulously constructed with operational efficiency and a superior tenantexperience in mind.All bedrooms were designed as co-living private suites and feature a private bathroom in addition to being securedby Smart Locks and Virtual Key Cards, powered by Tripalink's propriety mobile app and tenant portal.All bedrooms and common areas are delivered furnished to residents upon move-in and feature in-unit laundry andexpansive kitchens; in addition to tenant-centric amenities such as bi-weekly cleaning of the common areas, WiFicoverage, covered utilities, 24/7 maintenance and community events.Prime opportunity to acquire a newly built, recession-proof passive investment with no deferred maintenance andstrong in-place income.

Listed by Neema Ahadian | BRE #01346750 | Marcus & Millichap
Last checked: 4 minutes ago | Last updated: April 16th, 2024 | Source CRMLS | DOM: 42
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Home details

Lot Sq. Ft
4,319
HOA Dues
$0/mo
Year built
1906
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24379147
City
Los Angeles
County
Los Angeles
Time on Site
30 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 3
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 3
  • Furnishing: Furnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $5,400
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Furnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $6,572
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Furnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $9,990
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 11.66
  • Gross Scheduled Income: --
  • Net Operating Income: $183,917
  • Gross Operating Income: $260,625
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 1258 W 37th Dr

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Total # of Units: 3
  • Parcel Number: 5040013010
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Located two blocks west of the University of Southern California, located within the USC Department of Public Safety 24Hour Patrol Zone.
View more facts & features

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Sale History for 1258 W 37th Dr

Last sold for $777,000 on May 11th, 2020

  • March, 2024

  • Mar 25, 2024

    Date

    Active

    CRMLS: 24379147

    $3,100,000

    Price

  • October, 2023

  • Oct 17, 2023

    Date

    Canceled

    CRMLS: 23285535

    $3,200,000

    Price

  • May 24, 2023

    Date

    Active

    CRMLS: 23285535

    $3,200,000

    Price

  • Listing provided courtesy of CRMLS

    1258 W 37th Dr, a newly constructed 13-bed student housing investment opportunity located two blocks west of the University of Southern California, located within the USC Department of Public Safety 24-Hour Patrol Zone. The subject property was designed and built by Tripalink, a leading student housing operator with a proven track record of delivering best-in-class off-campus housing and providing tenants with an unparalleled housing experience through their tech-driven and data-oriented operation and development model. The property was built in 2022 and features a three-story duplex in the front and a free-standing ADU in the rear. The duplex consists of a two-bedroom two-bathroom townhouse unit with four single beds in the front and a two-bedroom two-bathroom townhouse unit with six single beds in the rear. The ADU is currently under construction and will be delivered as a three-bedroom, three-bathroom leased under double occupancy for the 2023 Fall Semester. The building was designed with a co-living philosophy and meticulously constructed with operational efficiency and a superior tenant experience in mind. All bedrooms were designed as co-living private suites and feature a private bathroom in addition to being secured by Smart Locks and Virtual Key Cards, powered by Tripalink's propriety mobile app and tenant portal. All bedrooms and common areas are delivered furnished to residents upon move-in and feature in-unit laundry and expansive kitchens; in addition to tenant-centric amenities such as bi-weekly cleaning of the common areas, WiFi coverage, covered utilities, 24/7 maintenance, and community events. The subject property is a half-mile walk to the main University Park Campus of USC and less than a mile from USC Village. It is also down the street from the Expo/Vermont metro rail station, allowing residents an easy commute to Downtown Los Angeles, Mid-City, and the Westside outside of their daily commute to campus. The offering presents a prime opportunity for an investor to acquire a fully recession-proof and passive student housing investment, directly adjacent to one of the leading private universities in the country. The 2022 construction and best-in-class management also offer no deferred maintenance and strong in-place income, with the property being delivered fully occupied for the 2023-2024 academic year, offering an investor immediate stabilized cash flow at a 6.04% CAP rate and 11.57 GRM on the current income.

  • May, 2020

  • May 11, 2020

    Date

    Sold

    CRMLS: SR20055579

    $777,000

    Price

  • Apr 2, 2020

    Date

    Pending

    CRMLS: SR20055579

    $799,000

    Price

  • Mar 13, 2020

    Date

    Active

    CRMLS: SR20055579

    $799,000

    Price

  • Listing provided courtesy of CRMLS

    ATTENTION INVESTORS! PRIME LOCATION NEAR USC CAMPUS! This 3 bedroom 1 bath home is within walking distance to USC in the coveted 90007 zip code., Metro E Line, Museums, The LA Memorial Coliseum, and The Banc of California Stadium and just minutes to Downtown LA! This is a great opportunity to turn this single family home into student housing, Close to 10 fwy and 110 fwy, This is the perfect opportunity you were waiting for, Don't let this GREAT OPPORTUNITY pass you by!.... APPOINTMENT ONLY PLEASE, DO NOT DISTURB THE OCCUPANTS.

  • May, 2020

  • May 11, 2020

    Date

    Sold (Public Records)

    Public Records

    $777,000

    Price

  • January, 1997

  • Jan 17, 1997

    Date

    Sold (Public Records)

    Public Records

    $103,000

    Price

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Tax History for 1258 W 37th Dr

Assessed Value (2020): $153,366
Year Land Value Improved Value Assessed Value
2020 $122,701 $30,665 $153,366

Home Value Compared to the Market

This property vs the competition

1258 W 37th Dr is listed 148.2% higher than the median list price for the city of Los Angeles which has a median list price of $1,249,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $745.01 per/sqft which puts the price per square foot 3.75% lower than the median price per square foot for the city of Los Angeles.

About 1258 W 37th Dr

Detailed summary of property

1258 W 37th Dr is a multi family located in Los Angeles, CA 90007 and is currently for sale. This multi family property offers 7 bedrooms, 7 bathrooms, roughly 4,161 living square feet, and sits on an approximately 4,319 square foot lot. 1258 W 37th Dr was first listed on ArdentRealEstateGroup.com on April 12, 2024. The homeowner is currently asking $3,100,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 148.2% higher than the median priced home. Local competing homes currently for sale include 1243 S Catalina St, 1511 S Manhattan Pl and 1211 Fedora St. While the average home in Los Angeles, CA is selling in 93 days, 1258 W 37th Dr has a days on market of 42 days. There are currently 3618 homes for sale in the Los Angeles real estate market and 2437 of them are single family homes while 1084 of them are condos and 92 are townhomes. For more information on this home for sale at 1258 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 1258 W 37th Dr

Public county record property details
Beds
2
Baths
1
Year built
1906
Sq. Ft.
1,344
Lot Size
4,319
Stories
--
Type
Single Family Residential
Pool
No
Spa
No
County
Los Angeles
Lot#
10
APN
5040-013-010

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
$1,199,999
Median List Price/Sq.Ft.
$616
Median Sold Price
$710,000
Median Sold Price/Sq.Ft.
$645
Total Inventory
13
Median Sale to List Price %
94.79%
Avg Days on Market
63
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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