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5300 Loma Linda Avenue

Los Angeles (City), CA 90027
  • $2,600,000
  • STATUS: Active
  • ON SITE: 7 Days
  • ID#: 21106539
UPDATED: 32 min ago
$2,600,000
  • 0
    BEDS
  • 0.25
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1947
County:

School Ratings & Info

Listing provided courtesy of Alexavier Shin of Iconic Investments and Adam Zunder of

Description

The Loma Linda Apartments, in the up-and-coming Thai Town neighborhood of Los Angeles, is a 10-unit multi-family building built in 1947. The property is located at 5300 Loma Linda Avenue and is comprised of 1 Studio, 8 one-bed/one-bath units and 1 two-bed/one-bath unit across 7,532 gross square feet of improvements on 10,678 square feet of land. Utilities are separately metered for electricity and gas. Some of the units have been lightly updated by current ownership, with room for more growth. In addition, a new roof was installed about 10 years ago and new water heaters 5 years ago. The Loma Linda Apartments are an ideal investment opportunity for all renovation-oriented buyers. As the units turn, it will allow new ownership to immediately renovate, remodel and reposition the property to capture a higher-income tenant base and top-of-market rents. Located on the northeast edge of Hollywood, Thai Town neighborhood is a six-block area flanking Hollywood Blvd. between Normandie Ave. and Western Ave. Thai Town borders Los Feliz and East Hollywood. 5300 Loma Linda Ave. offers tenants immediate access to a broad selection of world class dining, entertainment, and shopping destinations easily accessible by walking or a short drive. Retailers within walking distance include Target, Chase Bank, Starbucks, Ralphs Supermarket and Petco. Within 0.5 miles of the property is the headquarters of Netflix, Sunset Bronson Studios, Emerson College and KTLA 5. The Loma Linda Apartments are less than 0.3 miles to the nearby Red Line Metro Station at the corner of Hollywood Blvd. and Western Ave. and the area is served by the Metro Rapid bus lines 757 & 780 and Metro Local bus lines 180, 181, 206, 207, & 217.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-11-26T17:26:27.237. 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 The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
www.themarellygroup.com/homes/123399725
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5300 Loma Linda Avenue Los Angeles (City), CA 90027

  • Price: $2,600,000
  • Status: Active
  • On Site: 7 Days
  • Updated: 32 min ago
  • ID#: 21106539
0
Beds
0
Baths
0
½ Baths
0.25
Acres
1947
Built
Neighborhood:
C20 - Hollywood
County:
Los Angeles
Area:
C20 - Hollywood
Property Description
The Loma Linda Apartments, in the up-and-coming Thai Town neighborhood of Los Angeles, is a 10-unit multi-family building built in 1947. The property is located at 5300 Loma Linda Avenue and is comprised of 1 Studio, 8 one-bed/one-bath units and 1 two-bed/one-bath unit across 7,532 gross square feet of improvements on 10,678 square feet of land. Utilities are separately metered for electricity and gas. Some of the units have been lightly updated by current ownership, with room for more growth. In addition, a new roof was installed about 10 years ago and new water heaters 5 years ago. The Loma Linda Apartments are an ideal investment opportunity for all renovation-oriented buyers. As the units turn, it will allow new ownership to immediately renovate, remodel and reposition the property to capture a higher-income tenant base and top-of-market rents. Located on the northeast edge of Hollywood, Thai Town neighborhood is a six-block area flanking Hollywood Blvd. between Normandie Ave. and Western Ave. Thai Town borders Los Feliz and East Hollywood. 5300 Loma Linda Ave. offers tenants immediate access to a broad selection of world class dining, entertainment, and shopping destinations easily accessible by walking or a short drive. Retailers within walking distance include Target, Chase Bank, Starbucks, Ralphs Supermarket and Petco. Within 0.5 miles of the property is the headquarters of Netflix, Sunset Bronson Studios, Emerson College and KTLA 5. The Loma Linda Apartments are less than 0.3 miles to the nearby Red Line Metro Station at the corner of Hollywood Blvd. and Western Ave. and the area is served by the Metro Rapid bus lines 757 & 780 and Metro Local bus lines 180, 181, 206, 207, & 217.
Exterior Features

Architectural Style Mid-Century Modern Carport Spaces 0 Direction Faces East Lot Features Rectangular Lot Parking Features Driveway Parking Total 9 Pool Features None Pool Private YN No Roof Composition Spa Features None Spa YN No View None View YN No

Property Features

Association Fee 0 Garage YN No Gross Income 137203 Laundry Features None Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 70026 New Construction YN No Property Condition Repairs Cosmetic Rent Control YN Yes Senior Community YN No Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 11746 Vacancy Allowance Rate 0 Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-11-26T17:26:27.237. 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 The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
 
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The Marelly Group | Sentry Residential
5256 South Mission Rd, Suite 1006
Bonsall CA, 92003
Listing provided courtesy of Alexavier Shin of Iconic Investments and Adam Zunder of