REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Patricia Beattie

patricia@brivio.com +1(415) 286-8292

$1,550,000

Est. payment - /mo

7 Beds

7 Baths

7,003 Sqft Lot

Save

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW26241175

Bedrooms 7

Lot Size 7,003 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

USC-Area 3-Unit Property - 6.64% Current Cap Rate with Approx. 20% Rental Upside, 5-Minute Walk to USC. 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

Zoning Assessor

Direction Approx. 5-minute walk west of USC campus

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 5040015024

Acceptable Financing Cash, Conventional, Exchange

Listing Terms Cash, Conventional, Exchange

Read Less Info

Listed by Daniel Lewin, DRE#01932742 Younglewin Advisors, Inc.

Nearby School & Business

Get More Information

Patricia Beattie

+1(415) 286-8292

Broker License ID: 01405369

Quick Search

1223 W 37th Place Los Angeles, CA 90007

Patricia Beattie

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

Get More Information