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1572 W 37th Place, Los Angeles, California 90018, Los Angeles, 90018 - 25 bed, 25 bath

1572 W 37th Place, Los Angeles, California 90018 home-pic-0
ACTIVE$1,050,000
1572 W 37th Place, Los Angeles, California 90018
25Beds
25Baths
1,168Sqft
5,411Lot
Year Built
1915
Close
-
List price
$1.05M
Original List price
$1.05M
Price/Sqft
$899
HOA
-
Days on market
-
Sold On
-
MLS number
25565605
Home ConditionTear down
Features
View

About this home

We found 3 Cons,5 Pros. Rank: price - $1.05M(56th), sqft - 1168(22th), beds - 25(98th), baths - 25(98th).

We are pleased to present the opportunity to acquire this Ready-to-Issue Student Housing Construction project of 5 Residential Units totaling 25bd + 25bths, a couple of blocks away from the University of Southern California (USC). Located on 1572 W. 37th Place, this project will be delivered with RTI permits prior to closing. The design consists of a large duplex + JADU(17 Beds total) in the front of the lot, with an additional 2 detached ADUs(4bd + 4bth Each) in the rear, with the development totaling 6,774 SF of rentable square footage. The property benefits from a straightforward construction process, which will help any developer save on costs and expedite project completion. Expertly designed for co-living, each floor has ample living space for the tenants to enjoy as well as a private bathroom in each bedroom suite. In addition to renting to students, the property also offers dual-use potential: it can be rented to affordable housing programs, with the possibility of earning up to $1,200 per room in rent (Buyer to Verify). The property offers residents a highly desirable location with close proximity to campus & University Village, providing easy access to all of USCs landmarks, academic buildings, and entertainment. Please contact listing agent for more details!

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•0.6mi
2/10
John W. Mack Elementary School
Public,•K-5•0.8mi
2/10
Tom Bradley Global Awareness Magnet School
Public,•K-5•1.0mi
3/10
Sixth Avenue Elementary School
Public,•K-5•1.1mi
5/10
Menlo 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•1.5mi
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•1.7mi
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•2.3mi
5/10
Santee Education Complex
Public,•9-12•2.6mi
3/10
Nava College Preparatory Academy
Public,•9-12•3.2mi

Price History

Date
Event
Price
07/15/25
Listing
$1,050,000
03/03/22
Sold
$800,000
12/11/15
Sold
$335,000
07/30/13
Sold
$275,000
Condition Rating
Tear down
The property, built in 1915, is explicitly marketed as a 'Ready-to-Issue Student Housing Construction project' and 'not a ready-to-occupy property.' The value is clearly in the land and the approved development plans for 5 new units, rather than the existing 1168 sqft structure. The absence of interior images and the aerial views showing an old house with an unkempt yard further indicate that the current building is considered beyond repair for modern living and is intended for demolition to facilitate the new construction.
Pros & Cons

Pros

Strategic Location: Unbeatable proximity to the University of Southern California (USC), University Village, and campus landmarks, ensuring high demand for student housing.
Ready-to-Issue (RTI) Permits: The project will be delivered with RTI permits prior to closing, significantly reducing development risk, time, and costs for the buyer.
High-Yield Development Opportunity: Approved for 5 residential units totaling 25 beds and 25 baths, maximizing the rental income potential on the lot.
Dual Income Streams: Offers potential for both student housing and affordable housing programs, providing diversified and potentially higher rental income (up to $1,200 per room).
Optimized for Co-Living: Expertly designed for co-living with private bathrooms in each bedroom suite and ample common living space, perfectly catering to the target market.

Cons

Substantial Construction Investment: Despite RTI permits, the project requires significant capital investment and active management for the construction of 5 new units totaling 6,774 SF, as it is not a ready-to-occupy property.
Unverified Rental Projections: The attractive $1,200 per room rental income for affordable housing programs is explicitly 'Buyer to Verify,' introducing an element of uncertainty regarding actual income potential.
Niche Market Dependency: The property's value is heavily reliant on the student housing and co-living market near USC, making it susceptible to fluctuations in student enrollment, university policies, or changes in co-living demand.

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