1183 W 37th Drive

Description

Prime redevelopment opportunity steps from the University of Southern California's main campus. The owner has approved plans for a 3-bedrooms (could have 4 beds) /3-bathh ADU and main house remodel 3bd/2ba with office/bonus room. Nestled within the DPS and CSC patrol zones, and walking distance to Exposition Park the site of iconic landmarks such as the LA Memorial Coliseum, the Banc of California Stadium, and the forthcoming $1 billion George Lucas Narrative Art Museum the property benefits from an unbeatable location that continues to attract investment and development interest. The site is also within easy walking distance of the Metro Light Rail Expo Line, which provides direct access to Downtown Los Angeles and Santa Monica. 1,036 sqft, owner-occupied, single-family home featuring two bedrooms, one bathroom, a spacious living room, dining room, den, and laundry room, the property is being offered vacant at the time of sale. Redevelopment potential of the 4,000 square foot LARD2-zoned lot. Ideal use is for a tear-down and new student housing construction. By-right development would allow for two new units (buyer to verify with the city). This offering provides a rare opportunity for an investor or developer to capitalize on the strong demand for student housing in the USC submarket by operating the existing structure during the entitlement process or immediately pursuing new construction to maximize the site's value.