7,004 Sqft Lot
7,004 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26241175
HOA Y/N No
Year Built 1904
Lot Size 7,004 Sqft
Property Sub-Type Triplex
Property Description
1223 W. 37th Place presents a 3-unit, 10-bedroom investment opportunity located a short 5-minute walk to the USC campus and within walking distance of the Metro Expo Line. The property consists of a classic 1904 front house configured as a 4 bed/4 bath and two rear 2-story townhome-style 3 bed/3 bath units, totaling approx. 3,964 SF on a large 7,003 SF lot. Interiors feature wood-style flooring, original built-in woodwork in the front house, and updated kitchens and bathrooms. All three units are currently leased, providing in-place income.
Offered at $1,550,000, $516,667 per unit and $391 per square foot, at a 6.64% current cap rate and 10.33 GRM. Current rents total $12,510/month ($150,120/year), with projected market rents of $15,000/month ($180,000/year), reflecting an 8.61 GRM and 8.39% cap rate.
Located within USC's DPS patrol zone, steps from Exposition Park, the LA Memorial Coliseum, BMO Stadium, the new Lucas Museum of Narrative Art, and Expo Line access, with the area set to host major events for the 2028 Olympic Games.
Some photos have been virtually enhanced.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD2
Interior
Flooring Laminate, Wood
Fireplace No
Appliance Gas Range, Microwave, Refrigerator
Laundry Common Area
Exterior
Fence Wood
Pool None
Community Features Urban
Private Pool No
Building
Lot Description Level, Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Architectural Style Craftsman
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5040015024
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
