1177 W 37th Pl, Los Angeles, CA 90007
1177 W 37th Pl, Los Angeles, CA 90007
1177 W 37th Pl, Los Angeles, CA 90007
1177 W 37th Pl, Los Angeles, CA 90007
1177 W 37th Pl, Los Angeles, CA 90007
1177 W 37th Pl, Los Angeles, CA 90007
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Shantrece Thomas

Shantrece Thomas

+1(904) 760-6560
$ 2,575,000
Est. payment | /mo

46 Beds

39 Baths

19,900 SqFt

Save
$ 2,575,000
Est. payment | /mo
Save

46 Beds

39 Baths

19,900 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 19,900 sqft

Price per Sqft $129

MLS Listing ID 26996719

Bedrooms 46

Year Built 2026

Lot Size 7,002 Sqft

Acres 0.1607

Property Sub-Type Multi-Family

Property Description

We are pleased to present 1177 W. 37th Place, a fully entitled, RTI ground up student housing development located approximately one-half block from the University of Southern California. This rare offering provides a developer or investor with the opportunity to acquire a shovel-ready, permit-ready project in one of Los Angeles' most supply-constrained and consistently performing rental submarkets. Current ownership has completed the time-consuming and capital-intensive work associated with architectural design, civil and structural engineering, construction documents, plan check, permits, and city approvals. An incoming buyer steps in at the finish line of the entitlement process, potentially avoiding an estimated 18 to 24 months or more of entitlement time and the associated discretionary risk. Subject to buyer verification and payment of any remaining permit fees, the buyer can pull permits and begin construction. The approved plans, prepared by California Development & Design Inc., call for a five-story, approximately 19,900-square-foot building consisting of four levels of Type V-A residential construction over a Type I-A podium with ground-level parking and a residential lobby. The project includes seven residential units plus a multi-level ADU, for eight units total, with 46 bedrooms and 39 bathrooms. Purpose-built for a rent-by-the-bedroom student-housing model, the fully sprinklered NFPA-13 building also includes rooftop open space, on-site parking income, and a low-income housing subsidy component.At stabilization, 46 bedrooms leasing at approximately $1,500 per bed, together with parking and subsidy income, are projected to generate approximately $860,400 in scheduled gross income and $599,690 in net operating income. At a 6.0% capitalization rate, the projected stabilized value is approximately $10 million. This represents approximately $1.55 million in projected value creation, an 18.3% development margin on total cost, and an approximate 7.1% return on cost before refinancing, rent growth, and long-term appreciation. All plans, permits, construction costs, rents, income, and return projections are estimates and should be independently verified by the buyer.

Location

State CA

County Los Angeles

Area Los Angeles Southwest

Zoning LARD1.5

Rooms

Other Rooms None

Interior

Heating Other

Cooling Other

Equipment None

Exterior

Parking Features None

Building

Story 5

Level or Stories Multi/Split

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Keller Williams Hollywood Hills

NEARBY SCHOOLS & PROPERTIES

Shantrece Thomas

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

+1(904) 760-6560

shantrecethomas@gmail.com

200 W FORSYTH STREET SUITE 1605, Jacksonville, Florida 32202, United States

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1177 W 37th Pl