
Los Angeles, California 90007
This 3-unit Residential Income Asset presents a High-Potential Investment Opportunity with a List Price of $1,800,000—positioned slightly above the $1,739,098 Fair Market Value. Featuring a Good Condition Rating, the property includes a renovated 1907 front house and a modern 2013 rear townhome-style building. With two units delivered vacant, this property offers immediate leasing flexibility in a high-demand USC campus location. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a stable, income-generating property with significant rental upside.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1241 W 37th Drive Subject 0 bd · 0 ba · 3,727 sqft · $467 | $1,800,000* List Price | 0 | 0 | 3,727 | $467 | - |
A 3000 Kenwood Avenue Active 0 bd · 0 ba · 3,264 sqft · $397 · 0.6 mi | $1,295,000 List Price | 0 | 0 | 3,264 | $397 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property consists of a fully renovated 1907 front house and a rear building constructed in 2013 (11 years old). Interior images show well-maintained kitchens with granite countertops, functional appliances, and tile flooring. The units are move-in ready and separately metered, fitting the 10-20 year age/renovation bracket for a 'Good' rating.
Situated just a 5-minute walk from campus within the DPS patrol and free Lyft zones, the property is perfectly positioned to capture high demand and premium rental rates from the student population.
Offered at $483 per square foot, significantly below the area average of $585, the property provides a projected 5.91% market cap rate and immediate upside with two units delivered vacant.
The rear building, constructed in 2013, features contemporary townhome-style units with separate metering and in-unit laundry, minimizing immediate capital expenditure and simplifying utility management.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3727, other record living area = 3653.
The front house is currently occupied, which limits the buyer's ability to immediately achieve full market rents across the entire property or perform a comprehensive site renovation.
The front residence dates back to 1907, potentially requiring more specialized long-term maintenance and structural oversight compared to the newer 2013 construction.
Unique Opportunity - 3-unit, 10-bedroom USC-area investment just a 5-minute walk to campus with2 units delivered vacant. 1241 W. 37th Drive offers two buildings totaling approx. 3,727 SF on a 6,600 SF lot with ample on-site parking. As a 3-unit property, it may qualify for residential financing, and 2 of the 3 units will be delivered vacant, giving a buyer the flexibility to lease to non-student tenants or achieve a student housing premium at market for the upcoming academic year. Front house (1907): a fully renovated 4 bed/4 bath home, currently occupied. Rear building (2013): a 2-story townhome-style building with two 3 bed/3 bath units, each with in-unit laundry, both vacant. Units are separately metered for electricity and gas (as applicable) with tenants paying directly. Property-wide private WiFi and 24/7 monitored security. Offered at $1,800,000, $600,000 per unit and $483 per SF. Projected market rents total $12,800/month ($153,600/year), reflecting a 11.27 market GRM and 5.91% market cap rate, with a price per SF below the recent USC-area sales average of approx. $585 per SF. Located within USC's DPS patrol zone and free Lyft ride zone, steps from Exposition Park, the LA Memorial Coliseum, BMO Stadium, the new Lucas Museum of Narrative Art, and Expo Line access, with the area set to host major events for the 2028 Olympic Games. May be purchased together with 1230 W. 37th Drive across the street or separately. Do not disturb occupant.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.5 |
| Baths | 0.0 | 2.9 |
| Square foot | 3,727 | 2,090.331 |
| Lot Size | 6,602 | 5,852.908 |
| Price | $1.80M | $830.9K |
| Price per sq ft | $483 | $394 |
| Built year | 1907 | 1928 |
| HOA | $0 | $0 |
| Days on market | 20 | 87 |
Oct 20, 2026
$1,800,000
Initial Listing
Aug 26, 2013
$1,100,011
Public Record