1234 W 39th Place, Los Angeles, California 90037, Los Angeles, 90037 - 16 bed, 16 bath

1234 W 39th Place, Los Angeles, California 90037 home-pic-0
ACTIVE$1,299,000
1234 W 39th Place, Los Angeles, California 90037
16Beds
16Baths
8,375Sqft
6,755Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Ready-To-Issue (RTI) Permits: The property comes with pre-approved Ready-To-Issue (RTI) permits for a 6-unit student housing complex, significantly reducing development timelines and eliminating typical approval delays.
Top Cons:
Recently Sold Property: The property was recently sold within the past year on 2025-09-10. The sold price is $1,075,000.00.

Compared to the nearby listings

Price:$1.30M vs avg $670.0K (+$629,000)97%
Size:8,375 sqft vs avg 1,495.5 sqft94%
Price/sqft:$155 vs avg $4526%

More Insights

Built in 1913 (112 years old).
Condition: The property, built in 1913, is explicitly marketed as a development opportunity with Ready-To-Issue (RTI) permits for a new 6-unit complex. Images of the existing single-family residence reveal a very old and neglected structure with significant exterior deterioration, suggesting it has not undergone major renovations in decades. The listing's focus on the approved new construction plans, rather than the current dwelling, indicates the existing structure is considered unlivable or beyond economical repair and is intended for demolition. Its value is based solely on the land and its potential for redevelopment.
Year Built
1913
Close
-
List price
$1.3M
Original List price
$1.3M
Price/Sqft
$155
HOA
-
Days on market
-
Sold On
-
MLS number
25515653
Home ConditionTear down
Features
View-

About this home

Delivered RTI -- Presenting an exceptional development opportunity with Ready-To-Issue (RTI) permits, located in the highly coveted USC/Exposition Park neighborhood. This site includes pre-approved RTI plans for a 6-unit student housing complex, in one of Los Angeles' most vibrant and rapidly growing areas. The plans feature two townhome-style buildings, each three stories high, along with an additional two-story building at the rear. The layout offers a great mix of unit types: the front building contains two townhomes, each with 3 bedrooms and 3 bathrooms; the middle building includes two townhomes, each with 4 bedrooms and 4 bathrooms; and the rear building consists of two 1-bedroom, 1-bathroom ADU's, with the potential to add more bedrooms due to available spaces. All units are thoughtfully designed to optimize both space and comfort. The property is ideally located near USC where newly constructed properties are consistently sold at premium prices or fully leased upon completion. The plans have been thoroughly vetted and are ready for immediate issuance, eliminating the typical delays associated with project approvals. With SB-8 in effect, fewer new constructions are underway, making properties like this an even rarer and more sought-after asset. This presents a unique opportunity to invest in a fully planned housing development in one of Los Angeles' most dynamic neighborhoods. Just down the street from Exposition Park, home to numerous stadiums and museums, a half-billion-dollar project is set to be completed before the upcoming Olympics. Whether you're an investor or a developer, this project offers the potential for significant returns in an exceptionally desirable location.

Price History

Date
Event
Price
09/10/25
Sold
$1,075,000
02/29/24
Sold
$900,000
Condition Rating
Tear down

The property, built in 1913, is explicitly marketed as a development opportunity with Ready-To-Issue (RTI) permits for a new 6-unit complex. Images of the existing single-family residence reveal a very old and neglected structure with significant exterior deterioration, suggesting it has not undergone major renovations in decades. The listing's focus on the approved new construction plans, rather than the current dwelling, indicates the existing structure is considered unlivable or beyond economical repair and is intended for demolition. Its value is based solely on the land and its potential for redevelopment.
Pros & Cons

Pros

Ready-To-Issue (RTI) Permits: The property comes with pre-approved Ready-To-Issue (RTI) permits for a 6-unit student housing complex, significantly reducing development timelines and eliminating typical approval delays.
Prime Location: Situated in the highly coveted USC/Exposition Park neighborhood, the property benefits from strong demand for student housing and proximity to major attractions, stadiums, museums, and a half-billion-dollar development project.
Targeted Market Demand: The development is specifically designed for student housing near USC, a market known for consistently high occupancy rates and premium rental prices for new constructions.
Market Scarcity Advantage: With SB-8 in effect limiting new constructions, this fully planned housing development represents a rare and sought-after asset, offering a competitive edge in the current market.
Diverse Unit Mix: The plans include a variety of unit types (3-bed/3-bath, 4-bed/4-bath townhomes, and 1-bed/1-bath ADUs), optimizing space and comfort to cater to a broad range of student and tenant needs.

Cons

Recently Sold Property: The property was recently sold within the past year on 2025-09-10. The sold price is $1,075,000.00.
Significant Development Capital Required: The listed price is for the land and permits; the buyer will need substantial additional capital to fund the construction of the 6-unit complex.
No Immediate Income Generation: As a development site, the property will not generate rental income until construction is completed, meaning the buyer will incur holding costs during the development phase.
Inherent Construction Risks: Despite RTI permits, the project is still subject to typical construction risks such as potential delays, cost overruns, and unforeseen site conditions that can impact budget and timeline.

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