1117 W 38th St, Los Angeles, CA 90037

Hudson Partners has been retained as the exclusive agents for a tremendous re-positioning opportunity next to USC and walking distance from the Southwest Corner of campus. The parcel currently has a front SFR (1,150 SF) being used as a 3 Bedroom + 2 Bath. There is a rear non-conforming structure behind the SFR, which is used as a fourth unit (420 SF). The rear portion of this parcel is two more conforming units, both of them approximately 385 SF each. A seasoned Investor would need to buy-out existing tenants to stabilize the asset with market rents or could raise existing structures and build out 9 units by right under the new TOD Ordinance, but would need to incorporate an affordable component to the project. From a development prospective, The 7,038 SF parcel has development potential with new zoning in-place which would allow up 24 units if there is at least 11% minimum affordable housing component to the new project.