
Los Angeles, California 90018
This High-Potential Investment Opportunity is a shovel-ready development site listed at $1,450,000, positioned well below the $1,479,553 Fair Market Value by 2%. With over $250,000 already invested in approved permits and architectural plans for a 35-bedroom co-living project, this asset offers $29,553 in Instant Equity. Featuring a Condition Rating of 6, the site is optimized for high-density rental demand near USC. This is a strategic acquisition ideal for Buy-and-Hold Investors or Commercial Developers seeking immediate project commencement.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1787 W 35th Subject | $1,450,000* List Price | 0 | 0 | 10,332 | $143 | - |
A 3733 Dalton Active | $1,199,000 List Price | 0 | 0 | 8,000 | $150 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
The property is being sold as a 'ready-to-build' development site with approved plans and permits for a new 10,332 SF project. The original structure dates back to 1967 (over 50 years old) and the listing value is derived from the land and entitlements rather than the existing improvements.
The property is sold with fully approved permits and architectural plans, saving the buyer over $250,000 in pre-development costs and significant time typically lost in the entitlement process.
Designed for 35 bedrooms with private en-suite bathrooms, the project is optimized for the high-demand USC student housing and co-living market, offering substantial projected rental yields.
Situated just minutes from the University of Southern California and University Village, the location ensures a consistent tenant base and proximity to major academic, dining, and transit hubs.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 10332, other record living area = 1533.
The list price covers the land and permits only; the buyer must secure substantial additional financing and manage the construction of the 10,332 SF structure to realize the investment.
Most nearby public schools carry low ratings (2/10 to 3/10), which may restrict the property's long-term exit strategy to niche rental markets rather than traditional family residential use.
We are pleased to offer the opportunity to acquire a fully permitted, ready-to-build co-living housing development located just minutes from the University of Southern California (USC). Situated at 1787 W. 35th Street, the approved three-story project consists of 2 residential units totaling 35 bedrooms and 37 bathrooms, with approximately 10,332 SF of rentable living space. The thoughtfully designed co-living configuration includes one 17-bedroom/18-bathroom unit and one 18-bedroom/19-bathroom unit, featuring highly efficient, nearly identical stacked floor plans. Each bedroom is designed as a private suite with its own bathroom, complemented by spacious shared kitchens, dining areas, living spaces, and laundry facilities. With permits and architectural plans already completed and paid for, the project provides a substantial head start for a developer looking to avoid much of the time, expense, and carrying costs typically associated with the pre-construction and entitlement process. Seller reports more than $250,000 invested in plans, permits, and related pre-development costs. The property’s high-bedroom-count, private-bath configuration creates a compelling opportunity for a variety of rental strategies, including student housing, co-living or single-room occupancy-style housing, Section 8/Housing Choice Voucher tenants, and other qualifying affordable or supportive housing programs, subject to applicable requirements and approvals. Potential rents of up to $1,450 per bedroom have been projected; Buyer to independently verify rents, program eligibility, occupancy requirements, licensing, and permitted uses. Located in close proximity to USC, University Village, academic facilities, dining, shopping, entertainment, and major transportation corridors, this is a rare opportunity to acquire a high-bedroom-count, fully permitted development project positioned for strong rental potential in the USC housing market. Contact listing agent for plans, permits, and additional project information.
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.7 mi
Grades K-5 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.6 |
| Baths | 0.0 | 3.0 |
| Square foot | 10,332 | 2,187.451 |
| Lot Size | 6,802 | 5,841.385 |
| Price | $1.45M | $841.5K |
| Price per sq ft | $140 | $385 |
| Built year | 1967 | 1928 |
| HOA | $0 | $0 |
| Days on market | 30 | 85 |
Aug 10, 2026
$1,450,000
Initial Listing
Dec 23, 2024
$850,000
Public Record
Aug 19, 2020
$660,000
Public Record