Brand New Construction 27 Bed + 27 Bath! 1597 W 37th St 3 Unit Apartment Building $5,030,904 CAD ($1,676,968 CAD/Unit) 6.69% Cap Rate Los Angeles, CA 90018

We are pleased to present a rare investment opportunity: a brand-new ground-up construction property completed in 2024, located just west of USC at 1597 W. 37th Street. This thoughtfully designed asset features 27 bedrooms and 27 bathrooms, each with a private en-suite, offering versatility for multiple housing strategies including student rentals, affordable housing, co-living, or transitional housing. Offered at $3,650,000 ($135,000 per door), the property delivers a current cap rate of 6.69%, providing both immediate cash flow and long-term upside. Priced well below today’s replacement cost, a basis that would be nearly impossible to replicate with current construction costs. This opportunity is further enhanced by favorable seller financing: 50% down with a 3% interest-only loan for 3 years!
Designed with tenant comfort and operational efficiency in mind, the building includes spacious open-concept kitchens, dining and living areas, in-unit laundry facilities, and 10-foot ceilings with modern finishes. The property comes furnished with appliances installed, and all bedrooms are fully furnished (living rooms excluded). In addition, each floor is equipped with a washer and dryer for added tenant convenience. These features not only attract strong tenant demand but also support a variety of operating models, whether leased by the bed, by the room, or for program-based housing providers.
Strategically located outside of the DPS patrol zone yet within close proximity to USC, the Expo/Vermont Metro E Line station, and cultural landmarks such as the LA Coliseum, BMO Stadium, California Science Center, and the upcoming Lucas Museum of Narrative Art, the property is well positioned to serve a broad tenant base. With its brand-new construction, flexible use potential, and attractive seller financing, 1597 W. 37th Street offers investors a unique chance to secure a low-maintenance asset in one of Los Angeles’ most resilient rental markets.
Agent Remarks : PLEASE NOTE THE FOLLOWING: 1) DO NOT DISTURB THE TENANTS. 2) Submit Offer on a CAR Residential-Income Purchase Agreement. 3) Interior Inspection/Books & Records Granted with an Accepted Offer. 4) Submit Proof of Funds & Pre-Qualification Letter with Offer. 5) Seller Selects all Services Disclaimer: All information has been secured from sources we believe to be reliable. However, we make no representation or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information above and bears all risk for any inaccuracies.