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372 South Loma Drive
Los Angeles, CA 90017


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Property Remarks

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.

Property Details

MLS#
17254722
Days on Market
20
Year Built
1924
Stories
2
Building/Living Area (sq ft)
23,987
Source of SqFt
Public Records
Source of Lot Size
Vendor Enhanced

Location

State
CA
County
Los Angeles
Area
Downtown L.A. (C42)

Presented By:

Listing provided courtesy of Neema Ahadian , Marcus & Millichap


Exterior

Lot Acreage
0
Paved
No
Waterfront
No

Exterior Construction
Frame
Roofing
Shingle

Interior

Bedroom Features
All Bedrooms Up
Cooking Appliances
Range
Equip/Appliances
Refrigerator
Flooring
Wood
Laundry
Community

Additional Property Details

Number of Units
23
Parking Spaces
31
Number of Buildings
3
Gross Operating Income
$336,204
Total Expense
$138,621
ADA Compliance
No

Lot Description
2-4 Lots
AC/Cooling
Wall Unit(S)
Heating
Wall Heater
Parking
Assigned
Owner Pays
Water
Hoa Amenities
Gated Community

Downtown Los Angeles

The heart of the city, Downtown L.A. is dominated by skyscrapers, and a bustling urban core. Downtown, or as it is sometimes known, DTLA, is alive with hot restaurants, hip hotels, and nightlife that makes downtown a great place to live and play.

Real Estate: Lofts, condos and apartments for sale are prevalent in Downtown Los Angeles. Downtown Los Angeles is divided into several different areas including the Historic Core and the Fashion District. The Broadway area has been revitalized with many new condos and lofts being created in older buildings and new development underway. The area near L.A. Live and the Staples Center is particularly trendy.

Community Life: Downtown Los Angeles now boasts over 500 restaurants and has a burgeoning nightlife scene. Many people come to downtown to see a concert at Disney Hall or professional sports at Staples Center and the L.A. Convention Center plays home to a variety of events from art and design shows to conferences drawing businesspeople from around the world. Grand Central Market offers booths full of some of the most delicious food in the city.

Education: Downtown Los Angeles is served by the Los Angeles Unified School District. Local schools include the Ramon C. Cortines School of Visual and Performing Arts, Downtown Business High School, California Academy for Liberal Studies Early College High School, Para Los Niños Middle School, and others. Private schools include Saint Malachy Catholic Elementary School and American University Preparatory School. The Fashion Institute of Design & Merchandising is located downtown as is the Colburn School for music and the performing arts.

Transportation: Downtown is the hub of the rail transit system with six commuter lines, two subway lines, three light rail lines and many Metro bus routes passing through the city. Union Station is the main railway center and a historic landmark in the city.

Local Attractions:  From the city’s early beginnings on Olvera Street to new construction including the Broad Museum and the Wilshire Grand Tower there is a lot to see downtown. Popular draws include the Angels Flight staircase, Pershing Square with its own ice rink, the Bradbury Building, and the Los Angeles Public Library. 

Community Explorer

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