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