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    1117 38th Street

    Los Angeles, CA 90037
    • $1,190,000
    • STATUS: Active
    • ON SITE: 149 days
    • ID#: SR20032993
    UPDATED: 52 min ago
    $1,190,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,340
      SQFT
    • $509
      $/SQFT
    Type:
    Multi-Family
    Built:
    1924
    County:

    School Ratings & Info

    Description

    Hudson Partners has been retained as the exclusive agents for a tremendous re-positioning opportunity next to USC and walking distance from the Southwest Corner of campus. The parcel currently has a front SFR (1,150 SF) being used as a 3 Bedroom + 2 Bath. There is a rear non-conforming structure behind the SFR, which is used as a fourth unit (420 SF). The rear portion of this parcel is two more conforming units, both of them approximately 385 SF each. A seasoned Investor would need to buy-out existing tenants to stabilize the asset with market rents or could raise existing structures and build out 9 units by right under the new TOD Ordinance, but would need to incorporate an affordable component to the project. From a development prospective, The 7,038 SF parcel has development potential with new zoning in-place which would allow up 24 units if there is at least 11% minimum affordable housing component to the new project.

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    Based on information from CRISNet MLS as of 2020-07-12T13:55:52.35. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Based on information from the i-Tech MLS as of 2020-07-12T13:55:52.35. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.randyplaice.com/homes/103229942
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    1117 38th Street Los Angeles, CA 90037

    • Price: $1,190,000
    • Status: Active
    • Updated: 52 min ago
    • ID#: SR20032993
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    2,340
    SQFT
    $509
    $/SQFT
    1924
    Built
    Neighborhood:
    C36 - Metropolitan Southwest
    County:
    Los Angeles
    Area:
    C36 - Metropolitan Southwest
    Property Description
    Hudson Partners has been retained as the exclusive agents for a tremendous re-positioning opportunity next to USC and walking distance from the Southwest Corner of campus. The parcel currently has a front SFR (1,150 SF) being used as a 3 Bedroom + 2 Bath. There is a rear non-conforming structure behind the SFR, which is used as a fourth unit (420 SF). The rear portion of this parcel is two more conforming units, both of them approximately 385 SF each. A seasoned Investor would need to buy-out existing tenants to stabilize the asset with market rents or could raise existing structures and build out 9 units by right under the new TOD Ordinance, but would need to incorporate an affordable component to the project. From a development prospective, The 7,038 SF parcel has development potential with new zoning in-place which would allow up 24 units if there is at least 11% minimum affordable housing component to the new project.
    Exterior Features

    Fence YN Yes Fencing Average Condition Foundation Details Slab Levels One Lot Features 0-1 Unit/Acre Lot Size Area 7038.0000 Parking Total 0.00 View Neighborhood View YN Yes

    Interior Features

    Common Walls 1 Common Wall Laundry Features Common Area Laundry YN Yes

    Property Features

    Additional Parcels YN No Community Features BikingStreet LightsUrban Electric Expense 4046.00 Fuel Expense 663.00 Gross Income 47472.00 Gross Scheduled Income 47472.00 Insurance Expense 1837.00 Land Lease YN No Net Operating Income 18806.00 New Construction YN No New Taxes Expense 14875.00 Number Of Separate Electric Meters 1 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 28666.00 Pool Features None Pool Private YN No Property Attached YN Yes Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 28666.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public

    Listing provided courtesy of Jay Martinez, CA DRE# , of Hudson Commercial Partners, Inc..


    Based on information from CRISNet MLS as of 2020-07-12T13:55:52.35. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

    The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Based on information from the i-Tech MLS as of 2020-07-12T13:55:52.35. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Randy Plaice and Associates | RE/MAX
    27720 Dickason Drive
    Valencia CA, 91355