1158 W 37th Place, Los Angeles, CA 90007
Local realty services provided by:Better Homes and Gardens Real Estate Everything 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:47 day(s) ago
- Updated:August 13, 2026 at 11:08 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
- New
$1,025,000Active-- beds -- baths130 85th, Los Angeles, CA 90003
MLS# OC26174408Listed by: THE OPPENHEIM GROUP - New
$760,000Active1 beds 1 baths518 sq. ft.1234 1/8 N Cahuenga Boulevard, Los Angeles, CA 90038
MLS# 26870665Listed by: TRULINE REALTY - New
$1,226,000Active6 beds 10 baths5,180 sq. ft.3232 S Central Avenue, Los Angeles, CA 90011
MLS# 26871023Listed by: KW WESTSIDE ESTATES - New
$1,275,000Active2 beds 2 baths1,340 sq. ft.4080 Glencoe Avenue #317, Marina Del Rey, CA 90292
MLS# 26871391Listed by: THE AGENCY - Open Sun, 2 to 5pmNew
$1,599,000Active3 beds 3 baths1,731 sq. ft.8631 Lookout Mountain Avenue, Los Angeles, CA 90046
MLS# 26871569Listed by: CHRISTIE'S INTERNATIONAL REAL ESTATE SOCAL - New
$1,085,000Active3 beds 2 baths1,483 sq. ft.6237 Belmar Avenue, Tarzana, CA 91335
MLS# 26871739Listed by: HILTON & HYLAND - New
$995,000Active2 beds 1 baths1,452 sq. ft.1481 W 49th, Los Angeles, CA 90062
MLS# CV26177221Listed by: OPTION ONE REALTY & INVESTMENT - Coming Soon
$1,190,000Coming Soon5 beds 3 baths13897 Eldridge, Los Angeles, CA 91342
MLS# SR26176991Listed by: PREMIER LENDING & REAL ESTATE - New
$1,489,000Active4 beds 3 baths2,264 sq. ft.17343 Martha Street, Encino, CA 91316
MLS# SR26177214Listed by: PINNACLE ESTATE PROPERTIES, INC. - New
$779,000Active3 beds 2 baths1,744 sq. ft.14521 Benefit #207, Sherman Oaks, CA 91403
MLS# SR26177220Listed by: PINNACLE ESTATE PROPERTIES, INC.