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    372 Loma Drive

    Los Angeles (City), CA 90017
    • $5,900,000
    • STATUS: Active Under Contract
    • ON SITE: 129 days
    • ID#: 20580364
    Under Contract
    UPDATED: 4 min ago
    $5,900,000
    • 0
      BEDS
    • 0.47
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1924
    County:

    School Ratings & Info

    Description

    Built in 1924 and renovated in 2018, this 23-unit property totals 23,987 SF located in Westlake just west of MacArthur Park. This is a unique opportunity to purchase a building that features 21 two bedroom townhouse units and two one-bedrooms. The townhouse units are over 1,000 SF and all have dual entrances.This offering presents an investor the opportunity to purchase a highly efficient building with stable cash flow and significant rental upside to achieve when units turn. At the asking price, the CAP rate is an attractive 5.40% and 12.16 GRM on current income. Separately metered gas and electric, individual water heaters and RUBS program allow for low utilities.The Westlake neighborhood continues to be one of the most densely populated neighborhoods in all of Los Angeles. With a walk score of 89, proximity to schools and employment and endless transit options,this location makes it convenient for residents to commute throughout the city even without a vehicle.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-25T16:32:58.4. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or A|G Amaya Group Real Estate. Licensed in the State of California, USA.

    www.amayarealestategroup.com/homes/105998757
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    372 Loma Drive Los Angeles (City), CA 90017

    • Price: $5,900,000
    • Status: Active Under Contract
    • Updated: 4 min ago
    • ID#: 20580364
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.47
    Acres
    1924
    Built
    Neighborhood:
    C42 - Downtown L.A.
    County:
    Los Angeles
    Area:
    C42 - Downtown L.A.
    Property Description
    Built in 1924 and renovated in 2018, this 23-unit property totals 23,987 SF located in Westlake just west of MacArthur Park. This is a unique opportunity to purchase a building that features 21 two bedroom townhouse units and two one-bedrooms. The townhouse units are over 1,000 SF and all have dual entrances.This offering presents an investor the opportunity to purchase a highly efficient building with stable cash flow and significant rental upside to achieve when units turn. At the asking price, the CAP rate is an attractive 5.40% and 12.16 GRM on current income. Separately metered gas and electric, individual water heaters and RUBS program allow for low utilities.The Westlake neighborhood continues to be one of the most densely populated neighborhoods in all of Los Angeles. With a walk score of 89, proximity to schools and employment and endless transit options,this location makes it convenient for residents to commute throughout the city even without a vehicle.
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet Parking Features None Parking YN No

    Property Features

    Gross Income 485172.00 Gross Multiplier 12.16 Gross Operating Income 470617.00 Net Operating Income 318867.00 Senior Community YN No Special Listing Conditions Standard Total Actual Rent 39129.00 Total Expenses 151750.00 Zoning R4-1

    Listing provided courtesy of Neema Ahadian of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-09-25T16:32:58.4. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or A|G Amaya Group Real Estate. Licensed in the State of California, USA.

     
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