1158 W 37th Place, Los Angeles, CA 90007
Local realty services provided by:ERA Donahoe Realty
1158 W 37th Place,Los Angeles, CA 90007
$3,498,000
- 44 Beds
- 44 Baths
- 24,137 sq. ft.
- Multi-family
- Active
Listed by: davis saadian
Office: keller williams hollywood hills310-623-1300
MLS#:26852685
Source:CRMLS
Price summary
- Price:$3,498,000
- Price per sq. ft.:$144.92
About this home
We are pleased to present 1158 W. 37th Place, a fully entitled, ready-to-issue (RTI) ground-up student-housing development located less than half a block from the University of Southern California. This is a rare opportunity for a developer or investor to acquire a shovel-ready, permit-in-hand project in one of Los Angeles' most supply-constrained and consistently performing rental submarkets, and to build and hold a brand-new, amenity-rich asset in the heart of the USC rental corridor. Critically, the current ownership has already invested approximately $800,000 into the project's soft costs, including architectural design, full construction documents, civil and structural engineering, plans, permits, city fees, and holding costs, carrying the project all the way through to a ready-to-issue status. An incoming buyer effectively steps in at the finish line of the entitlement process: the time-consuming, capital-intensive, and risk-laden work of design and city approvals is already complete, eliminating an estimated 12 to 18+ months of entitlement timeline and the associated discretionary risk. The buyer simply pulls permits and breaks ground. The approved plans deliver a six-story, 24,137 GSF building (5-over-1, Type III-A over a Type I-A concrete podium) comprising seven residential units plus a multi-level ADU - 44 bedrooms and 44 bathrooms - purpose-built for a rent-by-the-bedroom student-housing model. By design, the project carries zero on-site parking under its TOC density-bonus entitlement, maximizing rentable area and lowering construction cost per buildable foot. The building was engineered for maximum profitability, sustainability, and tenant comfort as an intended owner-operated, long-term hold, and delivers a full amenity package: a fitness center, elevator, Parcel Pending package lockers in the lobby, a rooftop recreation deck with fire pit and BBQs, and secured bicycle parking. On the economics, a developer acquires the RTI site at $3,498,000 (inclusive of the ~$800,000 of completed entitlement work) and completes construction for an estimated all-in basis of roughly $8.88M - construction of $4.83M plus financing and remaining soft costs. At stabilization, 44 bedrooms leasing at approximately $1,500 per bed generate ~$792,000 of gross income and ~$636,079 of net operating income, supporting a projected stabilized value of $10,000,000 at a 6.36% cap (12.6x GRM). That represents approximately $1.12M of value created over total cost and a ~7.2% return on cost, comfortably above prevailing market cap rates, with meaningful additional upside through refinance, rent growth, and a long-term hold. Positioned within the USC rental corridor and the USC Department of Public Safety (DPS) 24/7 patrol area, 1158 W. 37th Place pairs premium, year-round, frequently parental-guaranteed student demand with a fully approved, permit-ready plan. For a developer or long-term investor, it is a rare chance to capture both the entitlement value already created and the durable, high-yield cash flow of a brand-new core asset. Located just steps from the USC campus and minutes from the Los Angeles Coliseum and BMO Stadium, this site puts world-class sports and entertainment right at your doorstep, from USC Trojans football to LAFC and Angel City FC. The opportunity grows even larger in 2028, when Los Angeles hosts the Summer Olympics (July 14) and the neighboring Coliseum takes center stage as the home of the Opening and Closing Ceremonies and Olympic track and field, becoming the first venue in history to host three Olympic Games. With the Metro E Line and rapid-transit options close by, this is a rare chance to own in one of the city's most dynamic and sought-after neighborhoods, positioned to thrive both today and under the global spotlight of 2028....
Contact an agent
Home facts
- Year built:2026
- Listing ID #:26852685
- Added:99 day(s) ago
- Updated:October 04, 2026 at 10:38 AM
Rooms and interior
- Bedrooms:44
- Total bathrooms:44
- Living area:24,137 sq. ft.
Structure and exterior
- Year built:2026
- Building area:24,137 sq. ft.
- Lot area:0.16 Acres
Finances and disclosures
- Price:$3,498,000
- Price per sq. ft.:$144.92
New listings near 1158 W 37th Place
- Coming Soon
$1,045,000Coming Soon4 beds 2 baths1,880 sq. ft.6646 Berquist, West Hills, CA 91307
MLS# SR26215766Listed by: PINNACLE ESTATE PROPERTIES, INC. - Coming Soon
$575,000Coming Soon2 beds 1 baths758 sq. ft.11465 Amboy Ave., San Fernando, CA 91340
MLS# SR26215773Listed by: KELLER WILLIAMS WORLD MEDIA CENTER - Coming Soon
$5,220,000Coming Soon15 beds 15 baths6,202 sq. ft.837 Waterloo Street, Los Angeles, CA 90026
MLS# 26995835Listed by: COMPASS - Coming Soon
$1,875,000Coming Soon3 beds 3 baths1,803 sq. ft.406 Brooks Avenue, Venice, CA 90291
MLS# SR26212149Listed by: RODEO REALTY - Coming Soon
$750,000Coming Soon4 beds 2 baths1,207 sq. ft.8850 Amboy, Sun Valley, CA 91352
MLS# BB26215754Listed by: BERKSHIRE HATHAWAY HOMESERVICES CREST REAL ESTATE - Coming Soon
$949,000Coming Soon2 beds 1 baths962 sq. ft.4528 College View, Los Angeles, CA 90041
MLS# CV26215780Listed by: NEST REALTY COVINA - Coming Soon
$1,450,000Coming Soon-- beds -- baths1,877 sq. ft.1927 Delta, Los Angeles, CA 90026
MLS# PF26215468Listed by: LPT REALTY - Coming Soon
$2,380,000Coming Soon5 beds 6 baths4,214 sq. ft.12035 Ricasoli, Porter Ranch, CA 91326
MLS# SR26215580Listed by: COMPASS - Coming Soon
$585,000Coming Soon2 beds 1 baths818 sq. ft.5437 Village Green, Los Angeles, CA 90016
MLS# 26995065Listed by: COMPASS - Coming Soon
$2,795,000Coming Soon4 beds 3 baths2,491 sq. ft.3617 Cody Road, Sherman Oaks, CA 91403
MLS# 26996389Listed by: COMPASS