1169 W 36th Place

    Los Angeles (City), CA 90007
    • $1,450,000
    • STATUS: Closed
    • ON SITE: 238 days
    • ID#: PW17241971
    Sold - 02/26/2018
    $1,450,000
    SOLD - 02/26/2018
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 1,949
      SQFT
    • $0
      $/SQFT
    Type:
    Multi-Family
    Built:
    1902
    County:

    School Ratings & Info

    Description

    The offering is a student housing development opportunity located just one block from USC and within the CSC and DPS patrol area. The property is also within walking distance of the newly constructed Metro Expo light rail line, which connects Downtown to West Los Angeles. Additionally, the property is just one-half of a mile from USC's new $700 Million University Village. University Village offers student housing and over 500,000 square feet of academic spaces, restaurants, and major retailers that include Trader Joe's, Target, Bank of America, Starbucks and more.The offering consists of a 7,092-square foot corner lot zoned LARD1.5, which allows for one unit per 1,500 square feet. Because of zoning, lot size and the reduced setbacks granted by the corner location, an investor may be able to develop the property into five units by-right (buyer to verify with the city, broker makes no warranties). New construction units are in high demand by students in this neighborhood, with market rents averaging $1,500 per bedroom. The property is not subject to HPOZ Review.1169 West 36th Place currently features a four-bedroom/two-bathroom front house and a two-bedroom/one-bathroom rear unit. The front house is occupied by four student tenants that are each renting bedrooms at $750 per month on individual leases. The rear unit will be delivered vacant. The property's current structures are subject to rent control, however any new construction would not be (buyer to verify).

    Sold by Daniel Lewin of Marcus & Millichap.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-06-19T07:28:34.373. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.kristirobertsgroup.com/homes/78011661

    1169 W 36th Place Los Angeles (City), CA 90007

    • Price: $1,500,000
    • Status: Closed
    • Updated: 45 min ago
    • ID#: PW17241971
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    1,949
    SQFT
    $0
    $/SQFT
    1902
    Built
    Neighborhood:
    C34 - Los Angeles Southwest
    County:
    Los Angeles
    Area:
    C34 - Los Angeles Southwest
    Property Description
    The offering is a student housing development opportunity located just one block from USC and within the CSC and DPS patrol area. The property is also within walking distance of the newly constructed Metro Expo light rail line, which connects Downtown to West Los Angeles. Additionally, the property is just one-half of a mile from USC's new $700 Million University Village. University Village offers student housing and over 500,000 square feet of academic spaces, restaurants, and major retailers that include Trader Joe's, Target, Bank of America, Starbucks and more.The offering consists of a 7,092-square foot corner lot zoned LARD1.5, which allows for one unit per 1,500 square feet. Because of zoning, lot size and the reduced setbacks granted by the corner location, an investor may be able to develop the property into five units by-right (buyer to verify with the city, broker makes no warranties). New construction units are in high demand by students in this neighborhood, with market rents averaging $1,500 per bedroom. The property is not subject to HPOZ Review.1169 West 36th Place currently features a four-bedroom/two-bathroom front house and a two-bedroom/one-bathroom rear unit. The front house is occupied by four student tenants that are each renting bedrooms at $750 per month on individual leases. The rear unit will be delivered vacant. The property's current structures are subject to rent control, however any new construction would not be (buyer to verify).
    Exterior Features

    Garage Spaces 0.00 Lot Features Lot 6500-9999 Lot Size Source Assessor Lot Size Units Square Feet Parking Total 4.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Community

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features Urban Country Us Elevation Units Feet Gross Income 0.00 Gross Scheduled Income 36000.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Net Operating Income 36000.00 New Taxes Expense 0.00 Number Of Separate Electric Meters 2 Number Of Separate Gas Meters 2 Number Of Separate Water Meters 0 Operating Expense 0.00 Rent Control YN Yes Senior Community YN No Special Listing Conditions Standard Total Expenses 0.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Lard1.5

    Listing provided courtesy of Steven Bogoyevac of Steven M. Bogoyevac, Broker and Daniel Lewin of Marcus & Millichap.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-06-19T07:28:34.373. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
     
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