Curious about this home?
Ask anything — no agents, no pressure
Try asking
About This Home
This 5-bedroom, 5-bathroom residential multi family at 1163 W 38th St in Los Angeles, CA is listed for $1,045,000 ($609 per sqft). Built in 1922, the home offers 1,715 sqft of living space on a 0.14 acres lot.
We are pleased to present 1163 W. 38th Street, a vacant well-maintained four (4) unit multifamily property, including a spacious garage equipped with its own bathroom, shower, and air conditioning, an excellent candidate for conversion into a studio ADU.
The site does come with approved plans & permits to convert the garage into a studio ADU as a 5th unit. The investment is located within an Opportunity Zone, (excellent tax benefits) and just blocks away from the University of Southern California, in the rapidly growing South Los Angeles submarket.
The property features three (3) vacant 1-bedroom + 1-bathroom units and one (1) vacant 2-bedroom + 1-bathroom unit.All units are delivered fully furnished and underwent a full remodel in 2023, including new flooring, updated kitchens, fresh paint, and modern appliances.
Units 1, 2, and 3 were originally part of one large, spacious single-family residence. However, with each bedroom having its own separate entrance, the property has been reconfigured without permits into three individual rental units offering flexible leasing options, including short-term, long-term, or Airbnb rentals.
The 2nd structure offers a spacious 2-bedroom unit. Situated on a large 6,209 SF LAR4-zoned lot, the property offers a long-gated driveway, a landscaped front yard, and a covered patio between the two detached structures. The building has been exceptionally maintained and offers solid structural integrity.
The location is unbeatable just two blocks west of Exposition Park (BMO Stadium, LA Memorial Coliseum, California Science Center, and Natural History Museum) and within a half mile of USC. With the 110 Freeway nearby, tenants enjoy quick access to Downtown Los Angeles and beyond.Ideal for both traditional leasing and Airbnb/short-term rentals, this
property combines move-in-ready condition with multiple income streams in one of LA's most dynamic growth areas. Fully occupied, the property should generate approximately $9,754/month (not including the ADU) a 9% Cap Rate & 8.9x GRM.
Key Features
- Built in 1922
- 0.14 acre lot
- 5 parking spaces
Property Details
Monthly Cost Estimate
$5,589/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1163 W 38th St
Los Angeles, CA 90037
Property Details
Parking
Questions & Answers
This 5-bedroom, 5-bathroom residential multi family at 1163 W 38th St is listed at $1,045,000 ($609/sqft). The estimated monthly payment is $4,528 based on 20% down at 6.5% interest.
Key features include: Built in 1922, 0.14 acre lot, 5 parking spaces.
This property is listed by Davis Saadian and can be reached at 3104028958 or davis@saadiangroup.com.
