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1539 W 37th Place, Los Angeles, California 90018, Los Angeles, 90018 - bed, bath

1539 W 37th Place, Los Angeles, California 90018 home-pic-0
ACTIVE$2,900,000
1539 W 37th Place, Los Angeles, California 90018
0Bed
0Bath
6,316Sqft
6,051Lot
Year Built
2022
Close
-
List price
$2.9M
Original List price
$2.9M
Price/Sqft
$459
HOA
-
Days on market
-
Sold On
-
MLS number
DW25118349
Home ConditionExcellent
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $2.90M(85th), sqft - 6316(85th), beds - undefined(50th), baths - undefined(50th).

Built in 2022, this new construction investment opportunity promises to be the best deal in all of Los Angeles with an extremely high current Cap Rate of 7.45% and a GIM of 9.34x. A new owner can increase their return on investment by taking advantage of the short term rental market when the FIFA World Cup and the Olympics come into town. The building is approximately 6,630 rentable square feet on a 6,051 square foot lot, consisting of (1) 13-bedroom + 13-bathroom, and (1) 9-bedroom + 9-bathroom units. The property can be acquired with the current management in-place for a true hassle-free turnkey investment. A new owner can also self manage the property keeping the expenses low. This great deal is priced to sell and is ready to make a deal! With only a 35% Down Payment this investment will cash flow on Day 1 and is poised to appreciate in value right away. The property features (22) Bedrooms All with Private En-Suite Bathrooms rented individually. This upscale investment features hardwood floors, stainless steel kitchen appliances, quartz counter tops, glass enclosed showers, in-unit washer & dryers, new roof/copper plumbing (less than 3 years old), double pane windows, individually metered for all utilities: gas, electricity, & water and high-end finishes throughout the units. Located in the highly desirable 90018 zip code, and walking distance to the University of Southern California campus (USC), Exposition Park, BMO Stadium, LA Coliseum, and the new George Lucas Museum.

Nearby schools

4/10
Birdielee V. Bright Elementary School
Public,•K-5•0.4mi
3/10
Lenicia B. Weemes Elementary School
Public,•K-5•0.5mi
2/10
Martin Luther King Jr. Elementary School
Public,•K-5•0.7mi
2/10
John W. Mack Elementary School
Public,•K-5•0.7mi
2/10
Tom Bradley Global Awareness Magnet School
Public,•K-5•1.1mi
5/10
Menlo Avenue Elementary School
Public,•K-5•1.2mi
3/10
Sixth Avenue Elementary School
Public,•K-5•1.2mi
3/10
Normandie Avenue Elementary School
Public,•K-5•1.3mi
/10
Maple Primary Center
Public,•K-1•2.0mi
3/10
Trinity Street Elementary School
Public,•K-5•2.1mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•1.3mi
2/10
Audubon Middle School
Public,•6-8•1.6mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.7mi
5/10
Foshay Learning Center
Public,•K-12•0.1mi
3/10
Manual Arts Senior High School
Public,•9-12•1.1mi
4/10
West Adams Preparatory High School
Public,•9-12•1.6mi
1/10
Crenshaw Science, Technology, Engineering, Math And Medicine Magnet
Public,•9-12•2.1mi
2/10
Susan Miller Dorsey Senior High School
Public,•9-12•2.4mi
5/10
Santee Education Complex
Public,•9-12•2.5mi
3/10
Nava College Preparatory Academy
Public,•9-12•3.1mi

Price History

Date
Event
Price
03/03/21
Sold
$799,000
08/12/19
Sold
$212,000
Condition Rating
Excellent
This property is a new construction, built in 2022, which immediately places it in the highest quality category. The listing details confirm 'high-end finishes throughout,' including hardwood floors, stainless steel kitchen appliances, quartz countertops, and glass-enclosed showers. The images corroborate these descriptions, showcasing modern kitchens with white shaker cabinets and sleek stainless steel appliances, and contemporary bathrooms with stylish vanities and subway-tiled, glass-enclosed showers. All components appear new, meeting current quality standards with no deferred maintenance, perfectly aligning with the 'Excellent' condition criteria.
Pros & Cons

Pros

Exceptional Financial Performance: The property boasts an extremely high current Cap Rate of 7.45% and a GIM of 9.34x, promising immediate cash flow and strong appreciation potential from day one.
Prime Location & Demand Drivers: Strategically located within walking distance to USC, Exposition Park, BMO Stadium, LA Coliseum, and the new George Lucas Museum, ensuring consistent high demand from students and event-goers.
New Construction & Modern Amenities: Built in 2022, this property features high-end finishes, hardwood floors, stainless steel appliances, quartz countertops, in-unit washer/dryers, and individually metered utilities, minimizing maintenance and appealing to modern renters.
High-Density, En-Suite Rental Units: Comprising 22 bedrooms, all with private en-suite bathrooms, the property is optimized for individual room rentals, maximizing income potential and tenant privacy.
Turnkey Investment & Future Income Potential: Offers a hassle-free turnkey investment with optional in-place management, plus significant upside for short-term rentals during major events like the FIFA World Cup and Olympics.

Cons

High-Density Management Complexity: Managing 22 individual tenants across two units can be complex and demanding, potentially requiring significant time or higher management costs if not professionally handled.
Reliance on Niche Rental Markets: The investment's high returns are heavily dependent on the student housing and short-term event rental markets, making it susceptible to changes in university policies, event schedules, or market saturation.
Limited Outdoor/Common Space: With 6,630 rentable square feet on a 6,051 square foot lot, the property likely prioritizes interior living space, potentially offering minimal outdoor or shared common areas for tenants.

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