View Photos

372 Loma Dr Los Angeles, CA 90017

$5,700,000 Sold Price as of 09/01/2020

44 Beds
23 Baths
20,621 Sq.Ft.

Sold

$5,700,000 Sold Price as of 09/01/2020 Refinance Your Mortgage

Map preview of 372 Loma Dr, Los Angeles, CA 90017

Property Overview: 372 Loma Dr Los Angeles, CA has 44 bedrooms, 23 bathrooms, 20,621 living square feet and 20,600 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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.

Listed by Neema Ahadian | BRE #01346750 | Marcus & Millichap

Last checked: 15 minutes ago | Last updated: June 5th, 2023 | Source CRMLS | DOM: 57

Home details

Lot Sq. Ft: 20,600
HOA Dues: $0/mo
Year built: 1924
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 20580364
City: Los Angeles
County: Los Angeles
Time on Site: 1237 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 23
Total # of Buildings: 3

Unit Breakdown 1

# of Units: 2
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,668
Total Rent: $3,335
Pro Forma/Market Rent: $3,370

Unit Breakdown 2

# of Units: 21
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,704
Total Rent: $25,794
Pro Forma/Market Rent: $47,145

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 5.4%
Gross Rent Multiplier: 12.16
Gross Scheduled Income: --
Net Operating Income: $318,867
Gross Operating Income: $470,617

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 372 Loma Dr

Interior Features

Laundry Information

Has Laundry
Stackable

Lot Details / Garage and Parking

Parking/Garage Information

No
Parking Features: None

Lot Information

Lot Size Source: Assessor

Property Information

Total # of Units: 23
Parcel Number: 5153019011

Homeowners Association, Utilities, Taxes / Assessments

Homeowners Association

Is Not Part of Association

Location / Neighborhood

Location Information

Directions: Turn Left on W 3rd Street and the destination will be on your left-hand side.

View more facts & features

Local Los Angeles Agent

Sale History for 372 Loma Dr

Last sold for $5,700,000 on September 10th, 2020

September, 2020
Sep 29, 2020

Date

Sold

CRMLS: 20580364

$5,700,000

Price
Jul 8, 2020

Date

Active Under Contract

CRMLS: 20580364

$5,900,000

Price
May 18, 2020

Date

Active

CRMLS: 20580364

$5,900,000

Price
September, 2020
Sep 10, 2020

Date

Sold (Public Records)

Public Records

$5,700,000

Price
February, 2020
Feb 21, 2020

Date

Canceled

CRMLS: 19537930

$5,900,000

Price
Dec 20, 2019

Date

Active

CRMLS: 19537930

$5,900,000

Price
Listing provided courtesy of CRMLS

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 5.16% and 12.50 GRM on current income. Separately metered gas andelectric, individual water heaters and RUBS program allow for low utilities.** The two-bedroom are townhouse units. the townhouse units are spacious at 1,050 SF each with dual entrances, a rare unit layout to find in this neighborhood

Continue Reading
February, 2019
Feb 4, 2019

Date

Sold (Public Records)

Public Records

--

Price
November, 2018
Nov 15, 2018

Date

Sold

CRMLS: 17254722

$4,075,000

Price
Aug 14, 2017

Date

Pending

CRMLS: 17254722

$5,200,000

Price
Jul 25, 2017

Date

Active

CRMLS: 17254722

$5,200,000

Price
Listing provided courtesy of CRMLS

The asset has been held by the same ownership since 1974 and professionally managed by a third-party management company for over 30 years. The property consists of (21) 2+1 townhouse-style units measuring over 1000 SF (most of these units have fireplaces and dual entrances) and (2) 1+1 units that are nearly 700 square feet. There is a total of 31 parking spaces on-site plus a 8 private one-car garages that are currently being rented for storage.

Continue Reading

Tax History for 372 Loma Dr

Assessed Value (2020): $4,239,630

Year	Land Value	Improved Value	Assessed Value
2020	$2,913,120	$1,326,510	$4,239,630

Home Value Compared to the Market

This property vs the competition

372 Loma Dr sold on September 1, 2020 for 422.12% higher than the current median sold price for the city of Los Angeles which is $1,130,000. The median sold price per/sqft for Los Angeles is $754 and this home is sold at $286.12 per/sqft which puts the price per square foot 62.05% lower than the current median sale per square foot for the city of Los Angeles.

About 372 Loma Dr

Detailed summary of property

372 Loma Dr is a multi family that recently sold in Los Angeles, CA 90017. This multi family property offered 44 bedrooms, 23 bathrooms, roughly 20,621 living square feet, and sits on an approximately 20,600 square foot lot. 372 Loma Dr was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $5,700,000. Home in Los Angeles are selling for a median price of $1,130,000 and a median price per square foot of $754. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 422.12% higher than the current median priced home. Local homes that are currently for sale include 5314 Loma Linda Ave, 5322 Loma Linda Ave and 323 N Soto St. While the average home in Los Angeles, CA is selling in 94 days, 372 Loma Dr has a days on market of 57 days. There are currently 3780 homes for sale in the Los Angeles real estate market and 2562 of them are single family homes while 1120 of them are condos and 92 are townhomes. For more information on this home for sale at 372 Loma Dr Los Angeles, CA 90017 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 372 Loma Dr

Public county record property details

Beds: --
Baths: --
Year built: 1924
Sq. Ft.: 23,987
Lot Size: 20,615
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 3,4
APN: 5153-019-011

The source for these homes facts are from public records.

90017 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$645,000

Median List Price/Sq.Ft.

$723

Median Sold Price

$450,000

Median Sold Price/Sq.Ft.

$564

Total Inventory

Median Sale to List Price %

92.02%

Avg Days on Market

101

Loan Type

Conventional (16.67%), FHA (0%), VA (0%), Cash (16.67%), Other (0%)

Thinking of Selling?

Is this your property?
Thinking of Selling?
Call, Text or Message

(714) 706-1823

Homes for Sale Near 372 Loma Dr

Nearby Homes for Sale

Recently Sold Homes Near 372 Loma Dr

$3,950,000 Last Sold Price

5 Beds

29 Baths

15481 Sq.Ft.

1527 W 4Th St
Los Angeles, CA 90017

$4,500,000 Last Sold Price

0 Beds

35 Baths

16727 Sq.Ft.

325 Columbia Ave
Los Angeles, CA 90017

$1,000,000 Last Sold Price

2 Beds

6 Baths

3409 Sq.Ft.

316 Columbia Ave
Los Angeles, CA 90017

$875,000 Last Sold Price

11 Beds

6 Baths

-- Sq.Ft.

329 Witmer St
Los Angeles, CA 90017

Related Resources to 372 Loma Dr

New Listings in 90017

Popular Zip Codes

Popular Cities

Other Los Angeles Resources

Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.