1171 W 38th Street, Los Angeles, California 90037, Los Angeles, 90037 - 0 bed, 0 bath
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Los Angeles, California 90037
This Triplex Asset is listed at $888,888, currently positioned above the $695,254 Fair Market Value. The valuation is supported by its unique configuration of three freestanding 1+1 homes on a 6,212-square-foot lot with high-density LAR4 Zoning. Situated just three blocks from USC, the property offers significant upside to correct underperforming income despite its Condition Rating of 5. This Value-Add acquisition presents a clear path to increased ROI through modernization or high-density redevelopment. It is an ideal project for Buy-and-Hold Investors or Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1171 W 38th Street Subject | $888,888* List Price | 0 | 0 | 2,100 | $331 | - |
A 1361 W Vernon Avenue Sold | $690,000 | 0 | 0 | 1,892 | $365 | 1.0 mi |
B 1323 W 41st Sold | $699,998 | 0 | 0 | 1,807 | $387 | 0.6 mi |
C 1221 Browning Boulevard Sold | $855,000 | 0 | 0 | 1,806 | $473 | 0.4 mi |
D 1249 1251 W 39th Street 2 Active | $899,500 List Price | 0 | 0 | 2,020 | $445 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1928 with no mention of recent renovations to kitchens, baths, or major systems. The exterior shows significant age-related wear, and the marketing focus on 'low rents' and 'LAR4 zoning' typically indicates deferred maintenance and a need for a full interior rehab to reach market potential.
Situated just three blocks from the University of Southern California (USC), the property is in a high-demand rental market ideal for student and faculty housing.
The property consists of three separate detached homes rather than shared-wall units, providing tenants with superior privacy and the feel of single-family living.
With LAR4 zoning on a 6,212-square-foot lot, the property offers significant long-term value through high-density redevelopment opportunities in a transit-adjacent area.
Current rents are noted as low, which may result in a lower initial cap rate and require a strategic turnover plan to achieve the projected market rent of $2,400 per unit.
Built in 1928, the structures likely require capital expenditures for modernization and maintenance to address the wear and tear associated with century-old infrastructure.
Great Location! About 3 Blocks Away from USC! Three Separate 1 + 1 Freestanding Homes! 700 SF Each1 All have own address 1171/1173/1175 are ALL Included in Price! Rents are Low - Open Rear Parking for 6 Vehicles. Should be about $2,500/Month Each. LAR4 Zoning Near Exposition Blvd and Vermont Ave. One of Owners lives in 1171 (Back Unit). Sellers Want to Cash Out!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,100 | 1,958 | 61% |
| Lot Size | 6,212 | 5,419 | 78% |
| Price | $888.9K | $914.4K | 50% |
| Price per sq ft | $423 | $389 | 61% |
| Built year | 1928 | 1924 | 72% |
| HOA | $0 | $0 | 50% |
| Days on market | 0 | 202 | 6% |
Apr 25, 2026
$888,888
Initial Listing