1320 W 37TH Street, Los Angeles, CA 90007
Property · 2 recorded sales since 2020
Sold May 2022
Listing Agent: Aram Gaboudian (DRE #01493911) · Listing Office: Keller Williams Los Angeles · Contact: 626-593-7560 · Bought with: Subscriber Non · Non-Participant Office · MLS #22140493 · Source: CRMLS
About this property
Introducing the all new luxurious Palmeras Residences with $19k/mo ($228k/year) income designed for USC students 2 blocks from campus. Current tenants are USC students. The building was gutted & finished in 2022 with new plumbing, electrical with a 5 meter panel, central HVAC in each unit, tankless water heaters, kitchens with appliances, laundry inside each unit, new bathrooms. Furnished 3 beds 3 baths each. This is not coliving. Not student housing business. Benefits of student tenants: 1) they have guarantors, 2) they move out when they graduate in 1 to 2 years & rents reset, 3) during a downturn school enrollment goes up & demand continues. In DPS zone, USC patrols the area 24 hrs/day. Alarm systems. 12 parking spots. 5 blocks to Expo/Vermont Metro Station & the new Lucas Museum opening in 2023 a giant outdoor restaurant & shopping experience. 25% upside potential on rents without capitalimprovements. No deferred maintenance. Potential for double occupancy & charge for parking & WiFi.
Listing description from the May 2022 sale, as reported to CRMLS.
Sale history
