Active

1158 W 37th Place

Los Angeles, CA 90007
Mark as Favorite
Bed 44

Bed

Bath 0

Bath

SqFt24,137

Sqft

SqFt7,002

Sqft(Lot)

We are pleased to present 1158 W. 37th Place, a fully entitled, ready-to-issue (RTI) ground-up student-housing development located less than half a block from the University of Southern California. This is a rare opportunity for a developer or investor to acquire a shovel-ready, permit-in-hand project in one of Los Angeles' most supply-constrained and consistently performing rental submarkets, and to build and hold a brand-new, amenity-rich asset in the heart of the USC rental corridor. Critically, the current ownership has already invested approximately $800,000 into the project's soft costs, including architectural design, full construction documents, civil and structural engineering, plans, permits, city fees, and holding costs, carrying the project all the way through to a ready-to-iss ue status. An incoming buyer effectively steps in at the finish line of the entitlement process: the time-consuming, capital-intensive, and risk-laden work of design and city approvals is already complete, eliminating an estimated 12 to 18+ months of entitlement timeline and the associated discretionary risk. The buyer simply pulls permits and breaks ground. The approved plans deliver a six-story, 24,137 GSF building (5-over-1, Type III-A over a Type I-A concrete podium) comprising seven residential units plus a multi-level ADU - 44 bedrooms and 44 bathrooms - purpose-built for a rent-by-the-bedroom student-housing model. By design, the project carries zero on-site parking under its TOC density-bonus entitlement, maximizing rentable area and lowering construction cost per buildable foot. The building was engineered for maximum profitability, sustainability, and tenant comfort as an intended owner-operated, long-term hold, and delivers a full amenity package: a fitness center, elevator, Parcel Pending package lockers in the lobby, a rooftop recreation deck with fire pit and BBQs, and secured bicycle parking. On the economics, a developer acquires the RTI site at $3,498,000 (inclusive of the ~$800,000 of completed entitlement work) and completes construction for an estimated all-in basis of roughly $8.88M - construction of $4.83M plus financing and remaining soft costs. At stabilization, 44 bedrooms leasing at approximately $1,500 per bed generate ~$792,000 of gross income and ~$636,079 of net operating income, supporting a projected stabilized value of $10,000,000 at a 6.36% cap (12.6x GRM). That represents approximately $1.12M of value created over total cost and a ~7.2% return on cost, comfortably above prevailing market cap rates, with meaningful additional upside through refinance, rent growth, and a long-term hold. Positioned within the USC rental corridor and the USC Department of Public Safety (DPS) 24/7 patrol area, 1158 W. 37th Place pairs premium, year-round, frequently parental-guaranteed student demand with a fully approved, permit-ready plan. For a developer or long-term investor, it is a rare chance to capture both the entitlement value already created and the durable, high-yield cash flow of a brand-new core asset. Located just steps from the USC campus and minutes from the Los Angeles Coliseum and BMO Stadium, this site puts world-class sports and entertainment right at your doorstep, from USC Trojans football to LAFC and Angel City FC. The opportunity grows even larger in 2028, when Los Angeles hosts the Summer Olympics (July 14) and the neighboring Coliseum takes center stage as the home of the Opening and Closing Ceremonies and Olympic track and field, becoming the first venue in history to host three Olympic Games. With the Metro E Line and rapid-transit options close by, this is a rare chance to own in one of the city's most dynamic and sought-after neighborhoods, positioned to thrive both today and under the global spotlight of 2028.

Read More Expand

Detail Ic Property Details

Property Type : ResidentialIncome

Price : $3,498,000

AD Id : 86506581

MLS Id : 26852685

Beds : 44

Lot Size : 7,002 Sqft

Living Area Size : 24,137

Year Built : 2026

County : Los Angeles

  • Map Map

Map

Map What's Nearby

Map Nearby Areas

Feature Features

  • Bedroom Information

    Total beds: 44

    Bathroom Information

    Total Baths: 44

  • Building Information

    Year Built: 2026
    Building Area Total: 24137
    Private Pool: No

  • Lot Information

    Lot Dimensions: 50x140 Main Square Feet: 7002 Lot Size Acres: 0.1607 Lot Size Square Feet: 7,002

  • Listing Price Information

    Listing Price: $3498000

  • Tax Information

    Parcel Number: 5040032007

  • Location Information

    Direction: 1158 W. 37th Place | Los Angeles, CA 90007
Sell a home like this and save $209,381 Find out How

How much is this property worth?

Curious about this home's true market value? Use our free Home Evaluation Tool to instantly get a personalized Comparative Market Analysis (CMA) report. Make smarter, data-driven decisions before you buy.

Images
Loading, please wait...

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
225 W Adams Boulevard, Los Angeles, CA, 90007 $1,775,000 -- 16 8,540 12,295 Sqft
1943 Estrella Avenue, Los Angeles, CA, 90007 $1,350,000 8 4 5,458 0.14 Acre
920 W 20th Street, Los Angeles, CA, 90007 $1,200,000 7 5 3,946 6,377 Sqft
1011 W 20th, Los Angeles, CA, 90007 $1,350,000 7 4 2,511 5,916 Sqft
1030 W 20th Street, Los Angeles, CA, 90007 $975,000 5 2 2,001 5,930 Sqft
2127 Portland Street, Los Angeles, CA, 90007 $1,600,000 11 11 3,715 6,152 Sqft
1017 W 24th Street, Los Angeles, CA, 90007 $1,220,000 4 -- 3,104 6,065 Sqft
1125 W 22nd Street, Los Angeles, CA, 90007 $800,000 3 2 1,872 5,500 Sqft
721 W 30th Street, Los Angeles, CA, 90007 $6,950,000 25 23 12,928 11,795 Sqft
3015 Shrine Place, Los Angeles, CA, 90007 $2,395,000 3 3 1,988 10,074 Sqft

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 09/04/2026 @ 22:17

MLS: 26852685 LISTED BY: Davis Saadian, Keller Williams Hollywood Hills 310-623-1300 SOURCE: CRMLS

Homes around $3,498,000

Selling? Save $209,381 when you sell a home like this

Tour with a ByOwner Agent