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1158 W 37th Place

Los Angeles, CA 90007
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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.

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Detail Ic Property Details

Property Type : Residential Income

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

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Feature Features

  • Bedroom Information

    Total Bedrooms: 44

    Bathroom Information

    Total Baths: 44 Full Baths: 0 Half Baths: 0

  • Building Information

    Year Built: 2026 Building Area Total: 24,137

  • Lot Details

    Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.1607 Lot Size Dimensions: 50x140
  • Lot Size Source: Vendor Enhanced Lot Size Square Feet: 7002

  • Listing Price Information

    Original List Price: 3,498,000 Listing Contract Date: 2026-06-26
  • Lease Information

    Listing Agreement: Exclusive Right To Sell

  • Tax Information

    Parcel Number: 5040032007

  • Garage and Parking

    Garage Description: None

    Homeowners Association

  • Other Property Info

    Source Listing Status: Active Source Neighborhood: C34 - Los Angeles Southwest Postal Code Plus 4: 4217 Directions: 1158 W. 37th Place | Los Angeles, CA 90007 Zoning: LARD2 Source Property Type: Residential Income Area: C34 - Los Angeles Southwest
  • Building and Construction

    Property Age: 0 Year Built Source: Vendor Enhanced Total Square Feet Living: 24137 Levels or Stories: Multi/Split
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
2200 E 105th, Los Angeles, CA, 90007 $629,900 3 2 2,001 2,001 SqFt
225 W Adams Boulevard, Los Angeles, CA, 90007 $1,775,000 -- -- 8,540 8,540 SqFt
1978 Bonsallo Avenue, Los Angeles, CA, 90007 $1,599,800 7 -- 3,456 3,456 SqFt
1017 W 24th Street, Los Angeles, CA, 90007 $1,220,000 4 -- 3,104 3,104 SqFt
721 W 30th Street, Los Angeles, CA, 90007 $7,100,000 25 -- 12,928 12,928 SqFt
716 W 30th Street, Los Angeles, CA, 90007 $2,608,888 15 -- 5,615 5,615 SqFt
1276 W 22nd St, Los Angeles, CA, 90007 $1,290,000 -- -- --
1213 W 24th, Los Angeles, CA, 90007 $2,138,000 -- -- 3,167 3,167 SqFt
1236 W 24th, Los Angeles, CA, 90007 $899,000 7 4 1,850 1,850 SqFt
1188 W 28th, Los Angeles, CA, 90007 $2,450,000 13 8 3,572 3,572 SqFt

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ByOwner last updated this listing 07/03/2026 @ 03:57

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

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