1637 W 37th Street, Los Angeles, California 90018, Los Angeles, 90018 - 4 bed, 2 bath
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Los Angeles, California 90018
This RTI Development Asset is a High-Potential Investment Opportunity listed at $1,250,000. While the baseline Fair Market Value is $1,050,822, the price reflects the significant Value-Add of "Ready-To-Issue" plans for a 31-suite co-living project. Maintaining a Condition Rating of 4, the site is exempt from RSO and SB 8, providing a clear path to high ROI near USC and Foshay Learning Center. This turnkey project is an ideal acquisition for Real Estate Developers or Buy-and-Hold Investors targeting the supply-constrained student housing market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1637 W 37th Street Subject | $1,250,000* List Price | 4 | 2 | 1,589 | $746 | - |
A 2321 W 31st Street Sold | $1,360,000 | 3 | 2 | 1,549 | $878 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is a 1924-built structure described as being in 'livable' and 'decent' condition. While it appears functional for immediate rental use, the age of the home and the lack of mentioned recent renovations suggest outdated kitchen and bathroom fixtures, older flooring, and aged systems. The listing's primary focus on RTI development plans further indicates that the current improvements are maintained but not modernized.
The property is delivered with Ready-To-Issue (RTI) plans for a 31-unit co-living project, significantly reducing the timeline, risk, and costs associated with city approvals and engineering.
Situated just minutes from the University of Southern California (USC), this site is perfectly positioned to capture high demand from the student population for modern, high-density housing.
The project is exempt from SB 8 and the Rent Stabilization Ordinance (RSO), providing investors with greater flexibility in rental strategies and the ability to achieve market-rate pricing.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
Beyond the $1.25M acquisition cost, the ambitious 31-suite development requires substantial construction financing and specialized management to execute successfully.
The majority of surrounding public schools carry low ratings (2/10 to 3/10), which limits the property's appeal to traditional family renters should the co-living project be delayed.
Rare offering just minutes from the University of Southern California (USC)! This property is being delivered RTI (Ready-To-Issue) with fully approved plans for a new 3-story duplex plus an attached ADU. Altogether, the project is designed to create 31 suites — each with a private bedroom and bathroom, complemented by expansive kitchens and large common areas, perfect for modern co-living or student housing. Currently, the lot features a single-family residence in livable condition, allowing flexibility for immediate rental income while preparing for construction. The thoughtfully designed plans maximize the site’s potential under R2 zoning, providing investors and developers with a rare opportunity to bring a high-demand housing product to the USC area. Key Highlights: RTI approved for duplex + ADU, totaling 31 beds & 31 baths Prime location adjacent to USC – ideal for student housing Elimination of SB 8 and No Rent Stabilization Ordinance (RSO) for this property, offering greater freedom in rental strategy Delivered with complete drawings, engineering, and city approval for immediate build-out Current structure: single-family home in decent condition on site Close to major freeways, dining, shopping, and Downtown Los Angeles This is a turnkey development opportunity with all the heavy lifting already completed. The seller has invested significant time and resources to secure approvals, making this a unique chance for developers, investors, and builders seeking high returns in a supply-constrained market.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.6 mi
Grades K-5 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 69% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,589 | 1,542 | 55% |
| Lot Size | 6,811 | 5,805 | 84% |
| Price | $1.25M | $875.0K | 71% |
| Price per sq ft | $787 | $594 | 84% |
| Built year | 1924 | 1914 | 69% |
| HOA | $0 | $0 | 50% |
| Days on market | 49 | 181 | 2% |
Mar 4, 2026
$1,250,000
Initial Listing
Nov 15, 2024
$900,000
Public Record