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$ 1,425,000
Est. payment /mo
New
1375 W 37th Drive Los Angeles, CA 90007
11 Beds
3,472 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 3,472 sqft
Price per Sqft $410
MLS Listing ID CL26997821
Bedrooms 11
HOA Y/N No
Year Built 2018
Lot Size 5,945 Sqft
Acres 0.14
Property Sub-Type OTHER
Property Description
Welcome to 1375 W. 37th Drive, a high-performing student housing investment near the University of Southern California (USC), combining strong in-place income, a proven rental history, and additional upside. The property features 11 bedrooms and 6 bathrooms across two residences, along with 4 on-site parking spaces. The front residence is a renovated 4-bedroom, 2-bathroom home, while the rear 7-bedroom, 4-bathroom residence was built in 2018. Together, the two residences have been successfully operated as rent-by-the-room student housing, currently generating $12,255 per month and $147,060 annually, resulting in a 6.82% current cap rate. One of the property's strongest attributes is its rental track record, with total rental income increasing each of the past four years. The rent-by-the-room configuration has created a proven income stream while still offering additional upside through future rental growth and optimization of the existing bedroom configuration. Additionally, the property is located within the USC DPS Patrol Zone, providing an added benefit for student renters seeking housing near campus. With newer rear construction, a renovated front residence, four parking spaces, and an established history as a student rental, 1375 W. 37th Drive offers a compelling combination of current yield and future upside in the USC rental market, with convenient access to USC, USC Village, Exposition Park, and the Metro E Line.
Location
State CA
County Los Angeles
Zoning LARD2
Interior
Fireplace No
Exterior
Total Parking Spaces 4
Building
New Construction No
Others
Tax ID 5040011027
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Listed by Adam Shamooelian • Keller Williams Beverly Hills