Sold

1205 W 37th Drive

Los Angeles CA, 90007

$3,220,000


$649.72 per sqft

Sold

4,956 sqft

Residential

Built in 1915

Listed by Daniel Lewin with Younglewin Advisors, Inc. 562-318-0215

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.

PW22163303

MLS ID

July 23, 2022

Listed

March 23, 2024

Updated

Map

1205 W 37th Drive
Los Angeles CA, 90007

Interior Features

Laundry Description

Inside


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.15 Acres


Lot Features

0-1 Unit/Acre, 2-5 Units/Acre


Sewer

Public Sewer

Other Property Details

Area Name

C34 - Los Angeles Southwest


Days on Market

175


Garage

No


Parking Total

0


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

LARD2


Buyer Agency Compensation

2%

Listing Contact: 562-318-0215 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/23/2024 at 1:34 AM UTC

 

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