24
See all 24 photos
$2,995,000
Est. payment /mo
18 Beds
9 Baths
6,734 SqFt
New
1250 W 37th ST Los Angeles, CA 90007
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,734 sqft
Price per Sqft $444
MLS Listing ID 25619343
Bedrooms 18
HOA Y/N No
Year Built 1964
Lot Size 7,252 Sqft
Property Description
We are pleased to present the exclusive opportunity to acquire this beautifully updated, modern nine-unit (18-bedroom) student housing apartment community located within the highly desirable DPS Patrol Zone, just a block from the University of Southern California (USC). This turnkey investment has undergone approximately $400,000 in recent capital improvements, creating a high-quality, low-maintenance asset positioned for long-term stability. Upgrades include new hardwood and vinyl flooring throughout, modern kitchen and bathroom cabinetry, quartz countertops, stainless steel appliances, new bathroom vanities, toilets, tubs, and tile finishes, and fresh interior and exterior paint. Major building systems have also been replaced or enhanced, including a new roof, new copper plumbing, dual-pane energy-efficient windows, a high-efficiency central water heater, and a complete sewer line replacement with PVC piping. Additional improvements include a secured entry gate for resident safety and the completed Los Angeles mandated earthquake retrofit, featuring foundation anchoring, shear wall reinforcement, and steel frame strengthening for full seismic compliance. Each unit features furnished bedrooms, stainless steel appliances, quartz countertops, and tiled showers with glass enclosures, showcasing modern finishes and thoughtful design throughout. The property is individually metered for gas, electricity, and water, reducing ownership expenses and improving efficiency. The building totals 6,734 rentable square feet on a 7,250-square-foot lot, consisting of (1) one-bedroom + one-bathroom unit, (1) three-bedroom + one-bathroom unit, and (7) two-bedroom + one-bathroom units. Each unit offers a spacious layout ideal for student tenants. The property is 100% occupied with USC students and fully leased for the 2025 - 2026 academic year, generating a gross income of $20,255 per month. With parental guarantees on leases and a consistent record of near 100% occupancy, the asset represents a low-risk, turnkey investment offering stable returns and strong operating fundamentals. Priced at a 6.5% cap rate and 12x GRM, this property delivers both dependable cash flow and long-term appreciation potential in one of Los Angeles' most sought-after rental markets.Additional amenities include on-site laundry facilities for supplemental income and secure gated access for enhanced resident safety.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Zoning LARD2
Interior
Heating Combination
Cooling Dual
Fireplace No
Appliance Disposal, Microwave, Refrigerator, Dryer, Washer
Exterior
Parking Features Gated, Private
Total Parking Spaces 6
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5040015010
Special Listing Condition Standard
Listed by Davis Saadian Keller Williams Hollywood Hills
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