1229 W 37th Drive, Los Angeles, California 90007, Los Angeles, 90007 - 0 bed, 0 bath
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1229 W 37th Drive
Los Angeles, California 90007
ACTIVE
CONDITION: TEAR DOWN
0Beds
0Baths
2,100Sq Ft
6,602Lot Size
Property Price
LIST PRICE$1,295,000
EST. MARKET VALUE
$1,210,684
6% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $1,295,000—positioned well below the $1,210,685 Fair Market Value by -6%. Located less than one block from USC, this LARD2 zoned asset features TOC Tier 3 incentives, supporting a 7-unit/28-bed development. With a Condition Rating of 6, the value lies in the land and entitlement potential rather than the 1906 structure. Delivered 100% vacant, this is a strategic acquisition for Student Housing Developers or Buy-and-Hold Investors seeking immediate development scale.
Estimated Market Value
$1,210,684
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
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.
PROSSTRENGTHS & OPPORTUNITIES
- Prime USC Location
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.
- High-Density Development Potential
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.
- Immediate Vacancy
The property is delivered 100% vacant at close, sparing the developer from costly RSO relocation fees, tenant buyouts, or lengthy holding delays.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2100, other record living area = 2041.
- Entitlement Risk
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.
- Aging Infrastructure
With the original structure dating back to 1906, the property likely requires immediate demolition or extensive renovation to meet modern standards for student housing.
About 1229 W 37th Drive
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.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1906
- Lot Size
- 6,602 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 3.0 |
| Baths | 0.0 | 2.0 |
| Square foot | 2,100 | 1,664.159 |
| Lot Size | 6,602 | 6,066.556 |
| Price | $1.29M | $1.35M |
| Price per sq ft | $617 | $806 |
| Built year | 1906 | 1939 |
| HOA | $0 | $278 |
| Days on market | 114 | 55 |
Pricing History
Listed for Sale
Aug 14, 2026
$1,295,000
$1,395,000
-7% Price Drop
Initial Listing
Price Change
Aug 7, 2026
$1,395,000
$1,495,000
-7% Price Drop
Initial Listing
Price Change
May 18, 2026
$1,495,000
Initial Listing
Sold
Nov 1, 1996
$103,000
Public Record