1169 W 36th Pl, Los Angeles, CA 90007

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).