1158 W 37th Place, Los Angeles, CA 90007
Local realty services provided by:ERA North Orange County Real Estate
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:3 day(s) ago
- Updated:June 30, 2026 at 02:42 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
- Levels:Multi Split
Finances and disclosures
- Price:$3,498,000
- Price per sq. ft.:$144.92
New listings near 1158 W 37th Place
- Coming Soon
$2,449,000Coming Soon4 beds 3 baths4901 Loleta Avenue, Los Angeles, CA 90041
MLS# 26853469Listed by: THE CMLGROUP, INC. - Coming Soon
$485,000Coming Soon2 beds 2 baths17800 Burbank #204, Encino, CA 91316
MLS# PW26141127Listed by: PREMIER REALTY ASSOCIATES - Coming Soon
$1,900,000Coming Soon-- Acres5500 Melvin, Tarzana, CA 91356
MLS# SB26141647Listed by: LUXURY 1 AGENCY - New
$524,999Active3 beds 3 baths1,237 sq. ft.18316 Hatteras #20, Tarzana, CA 91356
MLS# SR26126179Listed by: EXP REALTY OF SOUTHERN CALIFORNIA, INC - New
$2,795,000Active3 beds 4 baths3,190 sq. ft.10380 Wilshire Boulevard #902, Los Angeles, CA 90024
MLS# 26843689Listed by: KELLER WILLIAMS LARCHMONT - New
$4,900,000Active5 beds 5 baths3,200 sq. ft.501 Cascada Way, Los Angeles, CA 90049
MLS# 26845219Listed by: CAROLWOOD ESTATES - New
$399,000Active0.11 Acres3777 Mercury Avenue, Montecito Heights, CA 90031
MLS# 26852019Listed by: JOHN THOMS PROPERTIES - New
$1,049,000Active3 beds 2 baths1,287 sq. ft.5904 Dauphin Street, Los Angeles, CA 90034
MLS# 26852599Listed by: SOTHEBY'S INTERNATIONAL REALTY - New
$758,000Active2 beds 2 baths1,330 sq. ft.2939 Leeward Avenue #401, Los Angeles, CA 90005
MLS# 26852885Listed by: KELLER WILLIAMS LARCHMONT - New
$649,888Active3 beds 3 baths1,394 sq. ft.14937 Sherman Way #2, Van Nuys, CA 91405
MLS# 26853101Listed by: PROPERTYCLOUD