About this home

Price Reduced - We are pleased to present 1597 W 37th Street, a 2025 ground-up new construction asset in the Exposition Park neighborhood of Los Angeles, located just west of USC. Totaling approximately 7,341 rentable square feet across three fully furnished units and 27 beds, each with its own private en-suite bathroom, the property offers exceptional versatility across multiple housing strategies, including student rentals, co-living, affordable housing, or program-based and transitional housing. The asset features premium finishes throughout, including quartz countertops, stainless steel appliances, tiled showers with glass enclosures, new flooring, and in-unit washers and dryers, minimizing near-term capital requirements and maximizing tenant appeal. At just $368 per square foot, the acquisition basis represents a significant discount to current replacement cost for comparable new construction in Los Angeles, a basis that would be nearly impossible to replicate at today's construction costs. This pricing dynamic creates a structural competitive advantage. New entrants cannot deliver a comparable asset at a lower cost basis, effectively limiting the threat of supply-driven rent compression. For investors, this translates to a more defensible asset value and greater long-term income stability. The property operates under a master lease guaranteeing full occupancy with 5% annual rent escalations, providing investors with immediate, structured cash flow and no day-to-day management obligations. Under the lease structure, the tenant assumes responsibility for utilities, maintenance, and property operations, significantly reducing landlord exposure and delivering a more predictable, low-touch income stream. In-place rents are further supported by meaningful upside to market, offering investors a clear path to enhanced yields upon lease maturity. Strategically located with direct access to the Expo/Western Metro Station, the property provides tenants connectivity to Downtown, Mid-City, and the Westside, and sits within close proximity to USC and cultural landmarks including the LA Coliseum, BMO Stadium, the California Science Center, and the upcoming Lucas Museum of Narrative Art, positioning it to serve a broad tenant base. Beyond its strong in-place cash flow, the property offers compelling tax advantages, with potential eligibility for 100% bonus depreciation under current legislation. Prospective investors are encouraged to consult the listing agents regarding a cost segregation feasibility study to fully assess and optimize these accelerated depreciation benefits. With its brand-new construction, flexible use potential, and stable master-lease cash flow, 1597 W 37th Street offers investors a rare chance to secure a low-maintenance asset in one of Los Angeles' most resilient rental markets.

Facts and features

Schools

• Foshay Learning Center

  elementary · K-12 · 0.1 mi

  6

• Loving To Learn Enrichment Academy

  elementary · K-12 · 0.2 mi

• Birdielee V. Bright Elementary School

  elementary · K-5 · 0.3 mi

  4

• Manual Arts Senior High School

  high · 9-12 · 1.1 mi

  3

• Just Beginning, Inc.

  elementary · K-6 · 0.3 mi

• Dorothy Brown School

  middle · 6-12 · 0.4 mi

Price history

• Oct 31, 2026 · Listed For Rent$1,250
• Sep 10, 2026 · Price Changed$2,700,000
• Jun 29, 2026 · Listed$2,900,000
• Jan 21, 2026 · Listing Removed—
• Jan 18, 2026 · Relisted$3,350,000
• Dec 20, 2025 · Listing Removed—
• Nov 25, 2025 · Listed$3,350,000
• Nov 25, 2025 · Listing Removed—

Tax history

• 2025$29,925 tax · $2,724,012 assessed
• 2024$18,450 tax · $2,501,000 assessed
• 2023$10,086 tax · $820,000 assessed
• 2022$3,201 tax · $253,219 assessed
• 2021$3,155 tax · $248,255 assessed
• 2020$3,184 tax · $245,710 assessed
• 2019$3,065 tax · $240,893 assessed
• 2018$3,018 tax · $236,171 assessed

Home value

$2,647,588

• Quantarium$2,647,588
• Collateral Analytics$2,673,000
• Cotality$2,563,000

Where it is