RealKey
‪(213) 433-7766‬

1572 W 37th Place, Los Angeles, California 90018, Los Angeles, 90018 - 2 bed, 1 bath

1572 W 37th Place, Los Angeles, California 90018 home-pic-0
ACTIVE$985,000
1572 W 37th Place, Los Angeles, California 90018
2Beds
1Bath
1,168Sqft
5,411Lot
Year Built
1915
Close
-
List price
$985K
Original List price
$985K
Price/Sqft
$843
HOA
-
Days on market
-
Sold On
-
MLS number
25625859
Home ConditionTear down
Features
View-

About this home

Possibly Over-Priced:The estimated price is 28% below the list price. We found 4 Cons,5 Pros. Rank: price - $985.0K(55th), sqft - 1168(22th), beds - 2(29th), baths - 1(31th).

We are excited to offer a unique opportunity to acquire an opportunity to build a premier student housing development, just two blocks from the University of Southern California (USC). Situated at 1572 W. 37th Street, this project features 3 residential units totaling 25 bedrooms and 25 bathrooms across 5 distinct units. The project has RTI. The 3-story building design includes two residential units, with 17 bedrooms and 17 bathrooms. Additionally, there are two detached ADUs, each with 8 bedrooms and 8 bathrooms, totaling 8,590 square feet of rentable space. This project offers a streamlined construction process, allowing developers to reduce costs and accelerate completion. Purpose-built for co-living, every floor provides spacious common areas and each bedroom comes with its own private bathroom, ensuring tenant comfort and privacy. Beyond its student housing potential, this property offers flexibility, with the option to rent to affordable housing programs has potentially steady rental income. With its highly desirable location near USC, tenants will enjoy easy access to campus, University Village, and all the amenities that the area offers. Don't miss out on this opportunity contact the listing agent for further details! Please note that the buyer is responsible for conducting all due diligence regarding property conditions, zoning. SOLD AS IS. Buyer to verify all permits and records with city.

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
12/04/25
Listing
$985,000
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 listed as a 'development opportunity' with Ready-To-Issue (RTI) permits for a new 25-bedroom student housing complex. The listing states 'SOLD AS IS' and emphasizes the buyer's responsibility for due diligence on property conditions, strongly indicating the existing 2-bed, 1-bath structure is not intended for continued use. The image shows an old, worn exterior consistent with a property whose value lies solely in the land and its redevelopment potential, aligning perfectly with the 'tear-down' criteria.
Pros & Cons

Pros

Prime Location for Student Housing: Strategically located just two blocks from the University of Southern California (USC), offering exceptional demand for student housing.
Ready-To-Issue (RTI) Permits: The project has RTI permits for a 25-bedroom, 25-bathroom development, significantly reducing development time and risk for the buyer.
High-Density Development Potential: Approved plans for 3 residential units totaling 25 bedrooms and 25 bathrooms across 5 distinct units (8,590 sqft) maximize the property's income-generating capacity.
Purpose-Built Co-Living Design: The design is optimized for co-living with spacious common areas and private bathrooms for each bedroom, catering directly to the student market's preferences.
Flexible Rental Income Streams: Beyond student housing, the property offers flexibility to rent to affordable housing programs, providing potentially steady and diversified rental income.

Cons

MLS Listing Discrepancy: Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 25.
Sold As Is & Extensive Buyer Due Diligence: The property is sold 'AS IS,' requiring the buyer to conduct all due diligence on property conditions and zoning, which may uncover unforeseen costs or issues.
Significant Upfront Development Costs: While permits are in place, the construction of a 25-bedroom facility represents a substantial financial investment beyond the purchase price, which is not detailed.
No Immediate Income Generation: As a development opportunity, the property will not generate income during the construction phase, requiring the buyer to cover carrying costs until completion.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state