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1320 W 37th St Los Angeles, CA 90007

$3,460,000 Sold Price as of 05/17/2022

12 Beds
12 Baths
4,150 Sq.Ft.

Sold

$3,460,000 Sold Price as of 05/17/2022 Refinance Your Mortgage

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Map preview of 1320 W 37th St, Los Angeles, CA 90007

Property Overview: 1320 W 37th St Los Angeles, CA has 12 bedrooms, 12 bathrooms, 4,150 living square feet and 7,261 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Introducing the all new luxurious Palmeras Residences with $19k/mo ($228k/year) income designed for USC students 2 blocks from campus. Current tenants are USC students. The building was gutted & finished in 2022 with new plumbing, electrical with a 5 meter panel, central HVAC in each unit, tankless water heaters, kitchens with appliances, laundry inside each unit, new bathrooms. Furnished 3 beds 3 baths each. This is not coliving. Not student housing business. Benefits of student tenants: 1) they have guarantors, 2) they move out when they graduate in 1 to 2 years & rents reset, 3) during a downturn school enrollment goes up & demand continues. In DPS zone, USC patrols the area 24 hrs/day. Alarm systems. 12 parking spots. 5 blocks to Expo/Vermont Metro Station & the new Lucas Museum opening in 2023 a giant outdoor restaurant & shopping experience. 25% upside potential on rents without capitalimprovements. No deferred maintenance. Potential for double occupancy & charge for parking & WiFi.

Listed by Aram Gaboudian | BRE #01493911 | Keller Williams Downtown LA

Last checked: 7 minutes ago | Last updated: March 11th, 2024 | Source CRMLS | DOM: 38

Home details

Lot Sq. Ft: 7,261
HOA Dues: $0/mo
Year built: 1990
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 22140493
City: Los Angeles
County: Los Angeles
Time on Site: 783 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 4
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 3
# of Baths: 3
Furnishing: Furnished
Actual Rent: $5,000
Total Rent: $5,000
Pro Forma/Market Rent: $6,000

Unit Breakdown 2

# of Units: 1
# of Beds: 3
# of Baths: 3
Furnishing: Furnished
Actual Rent: $5,000
Total Rent: $5,000
Pro Forma/Market Rent: $6,000

Unit Breakdown 3

# of Units: 1
# of Beds: 3
# of Baths: 3
Furnishing: Furnished
Actual Rent: $4,500
Total Rent: $4,500
Pro Forma/Market Rent: $6,000

Unit Breakdown 4

# of Units: 1
# of Beds: 3
# of Baths: 3
Furnishing: Furnished
Actual Rent: $4,500
Total Rent: $4,500
Pro Forma/Market Rent: $6,000

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 15
Gross Scheduled Income: --
Net Operating Income: $169,397
Gross Operating Income: $228,000

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 1320 W 37th St

Interior Features

Cooling Information

Has Cooling
Central Air

Heating Information

Has Heating
Central

Laundry Information

Has Laundry
Dryer Included

Kitchen Information

Has Appliances
Dishwasher, Disposal, Microwave, Refrigerator

Lot Details / Garage and Parking

Parking/Garage Information

# of Parking Spaces: 12
Has Parking
Parking Features: Gated, Parking Space

Property Information

Total # of Units: 4
Parcel Number: 5040010014

Location / Neighborhood

Location Information

Directions: 2 blocks from USC

View more facts & features

Local Los Angeles Agent

Sale History for 1320 W 37th St

Last sold for $3,460,000 on May 17th, 2022

November, 2023
Nov 7, 2023

Date

Canceled

CRMLS: 23325311

$4,600

Price
Oct 25, 2023

Date

Active

CRMLS: 23325311

$4,600

Price
Listing provided courtesy of CRMLS

Introducing the all new luxurious Palmeras Residences designed for USC students 2 blocks from campus. The building was gutted and finished in 2022 with new remodeling. Laundry machines are provided inside the unit. Furnished 3 beds 3 baths each. This is not coliving nor student housing business. Building is located in DPS zone where USC patrols the area 24 hours a day. Alarm systems installed, 2 parking included, gated with automatic door, and central A/C and heating system. Must see!!!

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May, 2022
May 17, 2022

Date

Expired

CRMLS: 21106631

$5,000

Price
Nov 18, 2021

Date

Active

CRMLS: 21106631

$1,500

Price
Listing provided courtesy of CRMLS

Palmeras Residences is an all new building designed for the mature Junior Senior or Grad USC student looking for a quiet smaller building where security & cleanliness is important. Available today. Each unit is 3 bedrooms. Price is for entire unit. This is not coliving. Each private bedroom has its own attached private bath. Only 2 blocks from USC. Inside the 24 hrs a day DPS patrol zone. Inside the Campus Cruiser & Lyft Saferide service area. Free WiFi. Free parking with 12 spots. Brand new never used furniture including a new mattress & bed+underbed clothes drawers, night stand, desk/chair, sofa, dining table/chairs, & 65" smart TV. Central air & heat. All brand new high end kitchen with refrigerator, dishwasher, stove, & microwave included in rent. Laundry is inside the unit with a brand new washer & dryer set included. The entire property is gated. Each unit has a built in alarm system for security. Tenants only pay for gas & electricity. Ask about the move in special.

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May, 2022
May 17, 2022

Date

Sold

CRMLS: 22140493

$3,460,000

Price
Mar 28, 2022

Date

Active

CRMLS: 22140493

$3,499,000

Price
November, 2020
Nov 16, 2020

Date

Sold

CRMLS: RS20013906

$1,600,000

Price
Feb 28, 2020

Date

Pending

CRMLS: RS20013906

$1,800,000

Price
Jan 21, 2020

Date

Active

CRMLS: RS20013906

$1,800,000

Price
Listing provided courtesy of CRMLS

Great property in good condition near the USC campus area. Student housing opportunity, with outstanding income potential. Investors must see. Large lot with lots of parking, with alley access.

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November, 2020
Nov 13, 2020

Date

Sold (Public Records)

Public Records

$1,600,000

Price

Tax History for 1320 W 37th St

Assessed Value (2020): $511,253

Year	Land Value	Improved Value	Assessed Value
2020	$263,875	$247,378	$511,253

Home Value Compared to the Market

This property vs the competition

1320 W 37th St sold on May 17, 2022 for 194.03% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $843.13 per/sqft which puts the price per square foot 11.67% higher than the current median sale per square foot for the city of Los Angeles.

About 1320 W 37th St

Detailed summary of property

1320 W 37th St is a multi family that recently sold in Los Angeles, CA 90007. This multi family property offered 12 bedrooms, 12 bathrooms, roughly 4,150 living square feet, and sits on an approximately 7,261 square foot lot. 1320 W 37th St was first listed on ArdentRealEstateGroup.com on March 28, 2022. The homeowner sold the property for $3,460,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 194.03% higher than the current median priced home. Local homes that are currently for sale include 1532 S Wilton Pl, 1415 S St Andrews Pl and 1435 Alvarado. While the average home in Los Angeles, CA is selling in 92 days, 1320 W 37th St has a days on market of 38 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 1320 W 37th St 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 1320 W 37th St

Public county record property details

Beds: 9
Baths: 4
Year built: 1990
Sq. Ft.: 3,220
Lot Size: 7,261
Stories: --

Type: Triplex (3 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 13
APN: 5040-010-014

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

$1,198,999

Median List Price/Sq.Ft.

$616

Median Sold Price

$710,000

Median Sold Price/Sq.Ft.

$645

Total Inventory

Median Sale to List Price %

94.79%

Avg Days on Market

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.