Property listed by Younglewin Advisors, Inc., Daniel Lewin 424-224-9344
$1,550,000
USC-Area 3-Unit Property - 7.04% Current Cap Rate with Approx. 20% Rental Upside, 5-Minute Walk to USC.
1223 W. 37th Place presents a 3-unit, 10-bedroom investment opportunity located a short 5-minute walk to the USC campus and within walking distance of the Metro Expo Line. The property consists of a classic… Read More 1904 front house configured as a 4 bed/4 bath and two rear 2-story townhome-style 3 bed/3 bath units, totaling approx. 3,964 SF on a large 7,003 SF lot. Interiors feature wood-style flooring, original built-in woodwork in the front house, and updated kitchens and bathrooms. All three units are currently leased, providing in-place income.
Offered at $1,550,000, $516,667 per unit and $391 per square foot, at a 7.04% current cap rate and 10.33 GRM. Current rents total $12,510/month ($150,120/year), with projected market rents of $15,000/month ($180,000/year), reflecting an 8.61 GRM and 7.94% cap rate.
Located within USC's DPS patrol 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.
Some photos have been virtually enhanced. Read Less
Listing Snapshot
Days Online
0
Last Updated
Property Type
Triplex
Square Ft.
3,964
Lot Size
0.16 Acres
Year Built
1904
MLS Number
PW26241175
Additional Details
Appliances & Equipment
GasRange, Microwave, Refrigerator
Building
Built in 1904, 2 buildings, 2 stories, Levels: Two, Entry level: 1, Entry location: W 37th Pl
Community
Urban
Expenses
Gardener: $1,200, Insurance: $4,955, Maintenance: $1,500, Operating: $36,484, Pest Control: $150, Water/Sewer: $2,880, Other Expense: $2,101
Fence
Wood
Floors
Laminate, Wood
Home Owner's Association
Association Fee: $0
Income
Gross Income: $150,120, Gross ScheduledIncome: $150,120, Net Operating Income: $109,132
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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