1229 W 37th Drive, Los Angeles, California 90007, Los Angeles, 90007 - 0 bed, 0 bath
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Los Angeles, California 90007
Analysis of 1229 W 37th Drive, Los Angeles, California 90007 is currently available with a list price of $1,495,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is land value only, full reconstruction required.
Originally built in 1906, the property is explicitly marketed as a development opportunity for a 7-unit project. The listing highlights TOC Tier 3 incentives and suggests immediate demolition to begin construction, indicating the value is primarily in the land rather than the existing structures.
Situated less than one block from the USC campus and within the DPS Patrol Zone, this property offers an unbeatable location for high-demand student housing.
The TOC Tier 3 designation and LARD2 zoning on a 6,600 SF lot support a significant 7-unit/28-bed project, maximizing potential rental yield and ROI.
The property is delivered 100% vacant at close, sparing the developer from costly RSO relocation fees, tenant buyouts, or lengthy holding delays.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2100, other record living area = 2041.
Realizing the full development potential requires the buyer to navigate City of Los Angeles planning and verify all density bonuses, which involves time and professional fees.
With the original structure dating back to 1906, the property likely requires immediate demolition or extensive renovation to meet modern standards for student housing.
ATTENTION USC STUDENT HOUSING DEVELOPERS: Rare TOC Tier 3 development opportunity in the heart of the USC DPS Patrol Zone, less than 1 block from campus. 6,600 SF lot zoned LARD2 with confirmed TOC Tier 3 incentives supports a development of approximately 7 units / 28+ beds under density bonus + ADU/JADU stack (buyer to verify with architect). Property to be delivered 100% VACANT at close of escrow — no RSO relocation costs, no tenant buyouts, no holding delays. Existing 3-unit improvement (2012-built rear units + front house, 5 bd / 3 ba total) provides optional holding income during entitlement, or immediate demolition to begin construction. Developer buyers — call listing agent for offering memorandum and feasibility study. Owner is motivated; reviewing offers on a rolling basis. Buyer to verify all development potential, zoning, and entitlement options with City of Los Angeles Planning and own consultants. Tours by appointment only — please do not disturb existing occupants.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 4.0 | 10% |
| Baths | 0.0 | 2.0 | 10% |
| Square foot | 2,100 | 2,315 | 40% |
| Lot Size | 6,602 | 5,301 | 50% |
| Price | $1.50M | $980.4K | 90% |
| Price per sq ft | $712 | $432 | 90% |
| Built year | 1906 | 1907 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 27 | 167 | 10% |
May 18, 2026
$1,495,000
Initial Listing
Nov 1, 1996
$103,000
Public Record