1174 W 38th, Los Angeles, California 90037, Los Angeles, 90037 - 0 bed, 0 bath
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Los Angeles, California 90037
This Income-Producing Multi-Unit Asset is listed at $1,200,000, positioned near its $1,147,255 Fair Market Value. The property features a rare triplex plus a legal ADU, currently delivering positive cash flow with a Condition Rating of 4. With one vacant 2-bedroom unit ready for immediate occupancy, neighborhood views, and a secure gated driveway, the asset offers significant value-add potential through strategic renovations. Located in a high-density rental hub near USC and DTLA, this high-yield acquisition is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a strategic house-hack.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1174 W 38th Subject | $1,200,000* List Price | 0 | 0 | 2,300 | $499 | - |
A 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 moderate renovation needed.
Built in 1926, this multi-unit property is well-maintained but shows significant signs of age. While the vacant unit has received some cosmetic updates—including newer kitchen cabinetry, stone countertops, and laminate flooring—the bathrooms feature dated tiling and fixtures. The listing explicitly notes 'value-add upside through renovations,' indicating that major systems and finishes are not fully modernized to current standards.
The property features a rare configuration of a triplex plus a legal ADU, providing four distinct income streams and a vacant 2-bedroom unit ideal for an owner-occupant or immediate market-rate leasing.
Located minutes from USC, Exposition Park, and Downtown LA, the property is positioned in a high-density rental hub with consistent demand from students and urban professionals.
A long, gated driveway offers secure off-street parking for tenants, a premium feature in this neighborhood that significantly enhances tenant retention and property value.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2300, other record living area = 2340.
Built in 1926, the property likely requires ongoing maintenance and potential capital improvements to modernize aging systems common in century-old structures.
Managing four separate units on a single lot increases operational intensity and the likelihood of higher turnover costs compared to smaller residential investments.
Income-Producing Triplex + Legal ADU — Prime Central LA Location! Rare investment opportunity: a well-maintained triplex plus a legal ADU, currently delivering strong rental income and positive cash flow from day one. One unit is vacant (2 bed / 1 bath) — perfect for owner-occupancy or immediate lease-up. All units feature practical layouts that appeal to a wide tenant pool. Property Highlights: - 3 separate rental units + legal ADU - One vacant 2BR/1BA unit (ready to occupy or rent) - Secure, long gated driveway with private off-street parking - Positive cash flow in place - Value-add upside through renovations, rent optimization or repositioning Location Benefits: - Minutes to USC, LAFC stadium, Crypto.com Arena, DTLA, major freeways and transit - Close to shopping, dining and employment hubs — consistently high rental demand Ideal for investors or owner-users seeking a versatile, income-producing asset with immediate returns and long-term appreciation potential. Schedule a showing today!
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 | 2,300 | 2,012 | 63% |
| Lot Size | 6,666 | 5,461 | 84% |
| Price | $1.20M | $940.0K | 84% |
| Price per sq ft | $522 | $392 | 79% |
| Built year | 1926 | 1923 | 79% |
| HOA | $0 | $0 | 50% |
| Days on market | 56 | 242 | 16% |
Feb 25, 2026
$1,200,000
Initial Listing
Jul 1, 2004
$273,500
Public Record