NOT LISTED FOR SALE

372 Loma Dr Los Angeles, CA 90017

Westlake Neighborhood

Estimated Value: $7,467,474

44 Beds
23 Baths
20,621 Sq Ft
$362/Sq Ft Est. Value

Last Sold September 01, 2020

Last sale price $5,700,000 $276 Per Sq Ft

Est. 31% increase in value since last sale

Current estimated payment $47,004/month

10 Days on Market

About This Home

As of September 2020

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.

Last Agent to Sell the Property

Neema Ahadian

Marcus & Millichap License #01346750 Listed on: 05/18/2020

Last Buyer's Agent

Neema Ahadian

Marcus & Millichap License #01346750 Listed on: 05/18/2020

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $75,789

Year Built

  • Built in 1924

Lot Details

  • 0.47 Acre Lot

Interior Spaces

  • 20,621 Sq Ft Home
  • 2-Story Property
  • Stacked Washer and Dryer Hookup

Bedrooms and Bathrooms

  • 44 Bedrooms
  • 23 Bathrooms

Community Details

  • 3 Buildings
  • 23 Units

Listing and Financial Details

  • Assessor Parcel Number 5153-019-011

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$75,789

Year Built

Built in 1924

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 20621
  • Price Per Unit: 256522.00
  • Stories: 2
  • Year Built: 1924
  • Number Of Photos: 27
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 44
  • Total Bathrooms: 23.00
  • Equipment: Stackable W/D Hookup
  • Price Per S Q F T: 286.12

Exterior Features

  • Other Structures: Other

Lot Info

  • Assessor Parcel Number: 5153-019-011
  • Geocode Override: No
  • Lot Size Area: 20600

Rental Info

  • Total Actual Rent: 39129.00

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 12.16
  • Number Of Units: 23
  • Total Annual Expense: 151750
  • Type Of Units: Apartment
  • Vacancy Rate: 5%

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 18, 2020
Closed on
Sep 1, 2020
Sold by
Loma St Owners Llc
Bought by
Loma Drive Investors Llc
Seller's Agent
Neema Ahadian
Marcus & Millichap
Buyer's Agent
Neema Ahadian
Marcus & Millichap
List Price
$5,900,000
Sold Price
$5,700,000
Premium/Discount to List
-$200,000
-3.39%
Current Estimated Value
$7,467,474

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,767,474
Avg. Annual Appreciation
5.61%
Original Mortgage
$3,565,000
Outstanding Balance
$3,178,036
Interest Rate
2.9%
Mortgage Type
Commercial
Estimated Equity
$4,289,438

Purchase Details

Closed on
Jan 29, 2019
Sold by
Taylor Equities 18 Llc
Bought by
Loma St Owners Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$4,188,000
Interest Rate
4.4%
Mortgage Type
Construction

Purchase Details

Listed on
Jul 25, 2017
Closed on
Oct 26, 2017
Sold by
Scheer Jeffrey and Deborah A Freed Trust
Bought by
Taylor Equities 18 Llc
Seller's Agent
Neema Ahadian
Marcus & Millichap
Buyer's Agent
Subscriber Non
Non-Participant Office
List Price
$5,200,000
Sold Price
$4,075,000
Premium/Discount to List
-$1,125,000
-21.63%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.12%
Original Mortgage
$4,217,675
Interest Rate
3.83%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Loma Drive Investors Llc $5,700,000 North American Title Company
Loma St Owners Llc -- Fidelity National Title
Taylor Equities 18 Llc $4,075,000 North American Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Loma Drive Investors Llc $3,565,000
Previous Owner Loma St Owners Llc $4,188,000
Previous Owner Taylor Equities 18 Llc $4,217,675
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/01/2020 09/01/20 Sold $5,700,000 -3.4% $276 / Sq Ft
05/28/2020 05/28/20 Pending -- -- --
05/18/2020 05/18/20 For Sale $5,900,000 +44.8% $286 / Sq Ft
11/09/2017 11/09/17 Sold $4,075,000 -21.6% $170 / Sq Ft
08/14/2017 08/14/17 Pending -- -- --
07/25/2017 07/25/17 For Sale $5,200,000 -- $217 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $75,789 $6,169,860 $3,355,538 $2,814,322
2024 $75,789 $6,048,884 $3,289,744 $2,759,140
2023 $74,353 $5,930,280 $3,225,240 $2,705,040
2022 $70,963 $5,814,000 $3,162,000 $2,652,000
2021 $70,002 $5,700,000 $3,100,000 $2,600,000
2020 $53,873 $4,239,630 $2,913,120 $1,326,510
2019 $51,803 $4,156,500 $2,856,000 $1,300,500
2018 $51,307 $4,075,000 $2,800,000 $1,275,000
2017 $34,071 $2,645,000 $1,845,000 $800,000
2016 $5,973 $320,359 $107,053 $213,306
2015 $5,917 $315,547 $105,445 $210,102
2014 $6,099 $309,367 $103,380 $205,987
Source: Public Records

Agents Affiliated with this Home

  • N

    Seller's Agent in 2020

    Neema Ahadian

    Marcus & Millichap

    (213) 943-1800

    6 in this area

    88 Total Sales

    Section Image

  • S

    Buyer's Agent in 2017

    Subscriber Non

    Non-Participant Office

See All Agents

Map

Source: The MLS

MLS Number: 20-580364

The MLS

APN: 5153-019-011

California Los Angeles County Los Angeles 90017 Westlake

372 Loma Dr, Los Angeles, CA

This home is located at 372 Loma Dr, Los Angeles, CA 90017 since 18 May 2020 and is currently estimated at $7,467,474, approximately $362 per square foot. This property was built in 1924. 372 Loma Dr is a home located in Los Angeles County with nearby schools including John H. Liechty Middle School, Belmont High School, and Academic Leadership Community Miguel Contreras Learning Complex.

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