1205 West 37th Drive

Los Angeles, CA 90007

$3,750,000
Price
14
Beds
14
Baths
4,956 Sq. Ft.
$757 / Sq. Ft.
4,956
Sq. Ft.
$757
per Sq. Ft.

Description

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...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.
  1. Listed by Jerome McAlpin • DRE #00939725 • Brokerage DRE #00939725 • McAlpin & Company

Property Details for 1205 West 37th Drive

Water Front
None
Zoning
LARD2
Style
Contemporary
Parcel Number
5040014020
Total Units
4.0
Living Area
4956
Source Living Area
Owner
Area
Los Angeles Southwest (C34)
LISTING UPDATED: 11/13/2024 04:27 PM

Property Details for 1205 West 37th Drive

StatusActive
MLS #24-433527
Days on Market110
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1915
Lot Size0.15 AC / 6,603 SF
CountyLos Angeles County

Building Information for 1205 West 37th Drive

Stories3Residences-Year Built1915Building Size-Lot Size0.15 AC / 6,603 SF

Property Information for 1205 West 37th Drive

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 3
  • Number Of Buildings: 2
  • Type Of Units: SFR and Apts
  • View: Yes
  • View Description: City
  • View: City Lights
  • Direction Faces: South
  • Property Condition: New Construction, Updated/Remodeled
Contract Info
Contract Info
  • Financing: Cash, Cash To New Loan, Conventional
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $265,800
  • Net Operating Income: $202,593.00
  • Gross Income: $265,800
  • Cap Rate: 5.40%
  • Gross Rent Multiplier: $14.10
  • Total Annual Expense: 63207
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1516
  • Lot Size Square Feet: 6603
  • Lot Size Dimensions: 50x132
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Central Air
  • Cooling Type: Central
  • Heating: Central
  • Heating Type: Central
  • Flooring: Laminate
  • Equipment: Garbage Disposal, Refrigerator, Range/Oven, Dishwasher
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-30-2024
  • Listing Terms: Conventional, Cash, Cash To New Loan
Unit Details
Unit 1 Information
  • Unit Beds: 5
  • Unit Baths: 5
  • Unit Furnished: No
  • Unit Rent: $6,775.00
  • Unit Actual Rent: $6,775.00
  • Unit Projected Rent: $7,500.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $5,100.00
  • Unit Actual Rent: $5,100.00
  • Unit Projected Rent: $5,250.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $5,025.00
  • Unit Actual Rent: $5,025.00
  • Unit Projected Rent: $5,250.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 3
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $5,250.00
  • Unit Actual Rent: $5,250.00
  • Unit Projected Rent: $5,250.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $737,742.00
  • Assessed Improvement Percent: 49.3
  • Assessed Land Value: $758,582.00
  • Assessed Land Percent: 50.7
  • Assessed Total Value: $1,496,324.00

Property History for 1205 West 37th Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1205 West 37th Drive

Taxable ValueLand$1,805,400Additions$1,527,001Total$3,332,401
Tax Record2024$43,825 ($3,652 / month)
Home Facts
Total Finished SqFt5,264 SqFtAbove Grade Finished SqFt5,264 SqFtLot Size6,601 SqFtStyleTriplexYear Built1915ZoningLARD2CountyLOS ANGELESAPN5040-014-020

Schools near 1205 West 37th Drive

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 12
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Lenicia B. Weemes Elementary School
PublicK to 5

Foshay Learning Center
PublicK to 12

Manual Arts Senior High School
Public9 to 12

USC Hybrid High College Prep
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1205 West 37th Drive is a multi-family home for sale in Los Angeles, CA 90007. This property was listed for sale on August 29, 2024 by McAlpin & Company, it's currently listed at $3,750,000. It has been on the market for a total of 110 days and was last sold on February 9, 2023. This listing's school district is Los Angeles Unified School District. Nearby schools include Lenicia B. Weemes Elementary School, Foshay Learning Center and Manual Arts Senior High School. 1205 West 37th Drive is a 14-bed, 14-bath, 4,956 sqft multi-family home built in 1915.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of McAlpin & Company, Jerome McAlpin, DRE #00939725

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.