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6 Units with 3 Vacancies in USC Patrol Zone 1366 W 37th Pl 6 Unit Apartment Building $1,381,961 CAD ($230,327 CAD/Unit) 7.70% Cap Rate Los Angeles, CA 90007
INVESTMENT HIGHLIGHTS
- 3 vacant units / 7.7% Stabilized Cap Rate / 9.0 GRM
- Situated within USC Patrol Zone
- RD2-1 Zoning / Tier 3 T.O.C. allows for up to 6 units by right
- 6 units / (4) 1BR/1BA; (1) 3BR/1BA; (1) 3BR/2BA
- 2.5 blocks from USC Campus
- Walking distance to Expo/Western and Expo/Vermont light rail stations
EXECUTIVE SUMMARY
Now with a 3rd vacancy! Kidder Mathews, as exclusive listing agent, is pleased to present for sale 1366 W 37th Place, a 6-unit apartment building located within the USC Patrol Zone. The property is located 2.5 blocks west of the USC Campus and currently has three vacant 1 bedroom bungalow-style units.
With an ideal unit mix of four 1 bedroom 1 bath, one 3 bedroom 1 bath, and one 3 bedroom 2 bath units, the asset presents an opportunity for an investor to convert the tenancy to student housing.
2.5 blocks away from this property, the $1 Billion dollar Lucas Museum's structure is taking shape. The 5-story museum includes 300,000 SF of exhibition space, which will house the 100,000-piece collection of George Lucas’ paintings, sculpture, photographs and other forms of art related to film. Next to the Lucas Museum stands the L.A. Coliseum, site of the 2028 Olympic Games.
Email listing agent for offering memorandum.
With an ideal unit mix of four 1 bedroom 1 bath, one 3 bedroom 1 bath, and one 3 bedroom 2 bath units, the asset presents an opportunity for an investor to convert the tenancy to student housing.
2.5 blocks away from this property, the $1 Billion dollar Lucas Museum's structure is taking shape. The 5-story museum includes 300,000 SF of exhibition space, which will house the 100,000-piece collection of George Lucas’ paintings, sculpture, photographs and other forms of art related to film. Next to the Lucas Museum stands the L.A. Coliseum, site of the 2028 Olympic Games.
Email listing agent for offering memorandum.
PROPERTY FACTS
| Price | $1,381,961 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $230,327 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 7.70% | Building Size | 3,678 SF |
| Gross Rent Multiplier | 9 | Average Occupancy | 50% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1904 |
| Property Subtype | Apartment | ||
| Zoning | LARD2 - Five Or More Units Or Apartments | ||
| Price | $1,381,961 CAD |
| Price Per Unit | $230,327 CAD |
| Sale Type | Investment |
| Cap Rate | 7.70% |
| Gross Rent Multiplier | 9 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,678 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built | 1904 |
| Zoning | LARD2 - Five Or More Units Or Apartments |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
1 1
Walk Score®
Very Walkable (70)
Bike Score®
Very Bikeable (85)
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6 Units with 3 Vacancies in USC Patrol Zone | 1366 W 37th Pl
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