1287 W 37th PL, Los Angeles, CA 90007
1287 W 37th PL, Los Angeles, CA 90007
1287 W 37th PL, Los Angeles, CA 90007
1287 W 37th PL, Los Angeles, CA 90007
1287 W 37th PL, Los Angeles, CA 90007
1287 W 37th PL, Los Angeles, CA 90007
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Denise West

Denise West

+1(805) 390-4142
$ 3,250,000
Est. payment | /mo

20 Beds

11 Baths

7,162 SqFt

Save
$ 3,250,000
Est. payment | /mo
Save

20 Beds

11 Baths

7,162 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 7,162 sqft

Price per Sqft $453

MLS Listing ID 26914391

Bedrooms 20

HOA Y/N No

Year Built 1965

Lot Size 7,000 Sqft

Property Description

We are pleased to present "The Bryce", a 9-unit, 20-bedroom student housing apartment complex located within the highly desirable Department of Public Safety (DPS) Patrol Zone, approximately one block West of the USC campus & Village. Built in 1965, the property sits on a 6,970 square foot lot with approximately 7,162 square feet of building area and offers 9 gated on-site parking spaces. The property is currently 100% leased and generates $25,000/month of gross income, comprised of $24,850 in scheduled rental income plus approximately $150 in laundry income, representing $300,000 in scheduled annual income. At the offering price, the investment provides an attractive 7.5% current cap rate and a 10.9x current gross rent multiplier (GRM). Approximately $500,000 has been invested in capital improvements for this property. The entire property has been extensively renovated with improvements that include updated kitchens, bathrooms and bedrooms; copper plumbing upgrades; electrical system improvements; double-pane windows; new vinyl plank and tile flooring; new tubs, vanities, mirrors and doors; and updated interior and exterior paint. Additional property improvements include new security camera systems, automated entry gates, repaved and restriped parking areas, and completed seismic retrofits associated with tuck-under parking. The units feature in-unit washers and dryers, and wall-mounted televisions. Tenants are responsible for their utilities, helping to minimize landlord operating expenses. The unit mix consists of (1) studio unit, (3) 2-bedroom +1-bathroom units, (2) 2-bedroom + 2-bathroom units, and (3) 3-bedroom + 1-bathroom units, offering a diversified layout mix suited to a range of student housing preferences.

Location

State CA

County Los Angeles

Area C34 - Los Angeles Southwest

Zoning LARD2

Interior

Heating Electric, Heat Pump

Cooling Electric

Fireplace No

Appliance Disposal, Refrigerator, Dryer, Washer

Exterior

Parking Features Gated, Private

Total Parking Spaces 9

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5040015035

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Davis Saadian Keller Williams Hollywood Hills #01921748
Denise West

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(805) 390-4142

denisewestrealtor@gmail.com

3020 Old Ranch Parkway Suite 250, Seal Beach, CA 90740, US

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1287 W 37th PL