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1177 W 37th Place

Los Angeles, CA 90007
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Bed 46

Bed

Bath 0

Bath

SqFt19,900

Sqft

SqFt7,002

Sqft(Lot)

We are pleased to present 1177 W. 37th Place, a fully entitled, ready-to-issue (RTI) ground-up student housing development located 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, income-producing asset in the heart of the USC rental corridor. The current ownership has already carried the project through the time-consuming, capital-intensive, and risk-laden work of design, civil and structural engineering, full construction documents, plans, permits, and city approvals to a ready-to-issue status. An incoming buyer effectively steps in at the finish lin e of the entitlement process: this work 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, prepared by California Development & Design Inc., deliver a five-story, 19,900 GSF building - four levels of Type V-A residential over a Type I-A podium with ground-level parking and a residential lobby - comprising seven residential units plus a multi-level ADU (eight units total), 46 bedrooms and 39 bathrooms, purpose-built for a rent-by-the-bedroom student-housing model. The building is fully sprinklered (NFPA-13) and topped by a rooftop open space, and it additionally benefits from on-site parking income and a low-income housing subsidy component, diversifying the income stream beyond bedroom rents alone. On the economics, a developer acquires the RTI site at $2,975,000 and completes construction for an estimated all-in basis of roughly $8.85M - construction of approximately $5.09M plus financing and remaining costs. At stabilization, 46 bedrooms leasing at approximately $1,500 per bed, together with parking and subsidy income, generate approximately $860,400 of gross income and approximately $599,690 of net operating income, supporting a projected stabilized value of $10,000,000 at a 6.0% cap (12.1x GRM). That represents approximately $1.15M of value created over total cost and a ~6.8% return on cost, comfortably above prevailing market cap rates, with meaningful additional upside through refinance, rent growth, and a long-term hold.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $2,975,000

AD Id : 87656014

MLS Id : 26855605

Beds : 46

Lot Size : 7,002 Sqft

Living Area Size : 19,900

Year Built : --

County : Los Angeles

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Feature Features

  • Bedroom Information

    Total beds: 46

    Bathroom Information

    Total Baths: 39

  • Building Information

    Building Area Total: 19900
    Private Pool: No

  • Lot Information

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

  • Listing Price Information

    Listing Price: $2975000

  • Tax Information

    Parcel Number: 5040031033

  • Location Information

    Direction: 1177 W. 37th Place | Los Angeles, CA 90007
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
2200 E 105th, Los Angeles, CA, 90007 $600,000 3 3 2,001 2,001 SqFt
225 W Adams Boulevard, Los Angeles, CA, 90007 $1,775,000 -- -- 8,540 8,540 SqFt
1986 Norwood Street, Los Angeles, CA, 90007 $775,000 4 2 1,265 1,265 SqFt
2127 Portland Street, Los Angeles, CA, 90007 $1,600,000 11 11 3,715 3,715 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

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 07/28/2026 @ 02:54

MLS: 26855605 LISTED BY: Davis Saadian, Keller Williams Hollywood Hills 310-623-1300 SOURCE: CRMLS

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