3-Unit Residential
1223 W 37th Pl, Los Angeles, CA 90007
For Sale
New
$1,550,000
All three residences are leased, with updated kitchens and bathrooms across the property.
Property Size3,964 SF
Lot Size0.16 Acres
Price / SF$391.02
Days on Market2
Property Features for 1223 W 37th Pl
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Financials
Asking Price
Cap Rate
Gross Income
Gross Rent Multiplier
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Young Lewin Advisors
Listed By:
Daniel Lewin · License CA #01932742
(424) 224-9344
Source:
Elliman
Added: Nov 12
Last Checked: Nov 12 at 2:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Young Lewin Advisors
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Investment Insights
Based on property information with market context.
Built in 1904, this triplex contains 3,964 square feet across three residences, totaling 10 bedrooms. The front house has four bedrooms and four bathrooms, while two rear, two-story townhome-style units each have three bedrooms and three bathrooms. Interior details include wood-style flooring and original built-in woodwork in the front house, alongside updated kitchens and bathrooms. All three units are leased. The property has a 7.04% current cap rate and a 10.33 GRM.
At 1223 W. 37th Place, the property is a five-minute walk from the USC campus and within walking distance of the Metro Expo Line. Exposition Park, the LA Memorial Coliseum, BMO Stadium, and the Lucas Museum of Narrative Art are also nearby. The property is within USC's DPS patrol zone.
At 1223 W. 37th Place, the property is a five-minute walk from the USC campus and within walking distance of the Metro Expo Line. Exposition Park, the LA Memorial Coliseum, BMO Stadium, and the Lucas Museum of Narrative Art are also nearby. The property is within USC's DPS patrol zone.
Key Highlights
- Three leased units: one 4‑bedroom/4‑bathroom house and two 3‑bedroom/3‑bathroom townhome‑style residences
- 3,964 SF of building area on a 7,003 SF lot
- 7.04% current cap rate and 10.33 GRM
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,226
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,384,520
$1.4M
Cap Rate 7%
$988,943
$988.9K
Cap Rate 9%
$769,178
$769.2K
Market Conditions
NOI Build-Up for 3,964 SF
Gross rent
$107.0K $27.00/SF
− Vacancy
−$8.1K −$2.05/SF
EGI
$98.9K $24.95/SF
− OpEx
−$29.7K −$7.48/SF
NOI
$69.2K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,384,520
Cap Rate 7%
$988,943
Cap Rate 9%
$769,178
Alternative Uses
Best Use
Multifamily LT 5
$988.9K
$865.3K – $1.15M
NOI $69,226 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$911.2K
$797.3K – $1.06M
NOI $63,784 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,851 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,306
Businesses Nearby
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Business Placement
Demographics for 90007, CA
40,944
Population
14,153
Households
2.9
Avg Household Size
28
Median Age
29%
College-Educated
63%
High-School Grad
2.4 sq mi
ZIP Area
17,060
Density / Sq Mi
$36,032
Median Household Income
$21,176
Median Earnings
$1,480
Median Rent
$852,900
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Los Angeles, CA
Properties on Market for Triplexes in Los Angeles
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - All three residences are leased, with updated kitchens and bathrooms across the property.
Where is this triplex located?
The property is located at 1223 W 37th Pl Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Three leased units: one 4‑bedroom/4‑bathroom house and two 3‑bedroom/3‑bathroom townhome‑style residences; 3,964 SF of building area on a 7,003 SF lot; 7.04% current cap rate and 10.33 GRM
