1375 W 37th DriveLos Angeles, CA 90007

Description

Welcome to 1375 W. 37th Drive, a high-performing student housing investment near the University of Southern California (USC), combining strong in-place income, a proven rental history, and additional upside. The property features 11 bedrooms and 6 bathrooms across two residences, along with 4 on-site parking spaces. The front residence is a renovated 4-bedroom, 2-bathroom home, while the rear 7-bedroom, 4-bathroom residence was built in 2018. Together, the two residences have been successfully operated as rent-by-the-room student housing, currently generating $12,255 per month and $147,060 annually, resulting in a 6.82% current cap rate. One of the property's strongest attributes is its rental track record, with total rental income increasing each of the past four years. The rent-by-the-room configuration has created a proven income stream while still offering additional upside through future rental growth and optimization of the existing bedroom configuration. Additionally, the property is located within the USC DPS Patrol Zone, providing an added benefit for student renters seeking housing near campus. With newer rear construction, a renovated front residence, four parking spaces, and an established history as a student rental, 1375 W. 37th Drive offers a compelling combination of current yield and future upside in the USC rental market, with convenient access to USC, USC Village, Exposition Park, and the Metro E Line.

Property Information

Property type

Residential Income

Year built

2018

Stories

2

Living area

3,472 Sq Ft

Lot size

0.14 acres

Lot dimensions

45x132

Parking spaces

4

Zoning

LARD2

Days on market

39

MLS^® Listing#

26997821

Property Features

Financial Details

HOA

None

Parcel number

5040011027

Directions

1375 W. 37th Drive, 90007