MLS® ID: PW19199894
1177 W 37th Place
Los Angeles, California, 90007 $1,550,000
Prime student housing development opportunity in the coveted 90007 zip code of Los Angeles, CA. Less than one block from the main University Park campus of the University of Southern California, the property is in an unbeatable student housing location. Within the CSC and DPS patrol Zones. Delivered fully vacant.
The offering consists of an existing duplex situated on a 7,000 square foot lot zoned LARD1.5. The duplex will be delivered vacant and is likely a teardown. RD1.5 zoning allows for one dwelling unit to be built per 1,500 square feet of lot space which equates to a maximum density of four new construction units for a developer (buyer to verify). Property is also Tier 3 TOC eligible which would allow a buyer significant development bonuses (buyer to verify).
The area surrounding the campus has seen and will continue to see sustained appreciation due to the recently opened LA Metro Exposition Light Rail line, the LAFC stadium opened in April and the $1 Billion George Lucas Narrative Art museum that recently broke ground. USC recently completed (less than a mile from the subject property) the $700-Million Mixed-Use Project at the University Village offering major national retailers, open spaces, 2,000 student housing beds and innovative academic collaboration spaces.