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SOLD 4/27/2022

5300 Loma Linda Avenue, Los Angeles, CA 90027$2,600,000

1
bed
1
bath
7532
ft2
· 10678
ft2 lot
$345 / ft2

Listing provided courtesy of Listing Broker: Alex Shin, Iconic Investments
Source CRMLS;
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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.

HOA

$0/month

On market

24 days

Year built

1947

Property type

Multi-Family

Parking

9

MLS

21106539

Price / Sq.Ft.

$345 / ft2

Status

Closed

Buyer’s Brokerage Commission

1.7500000000000002%

Home details for 5300 Loma Linda Avenue

Interior Features & Layout
Interior Size
•   
Building Area Total: 7532.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Parking Available: 1
•   
Parking Features: Driveway
•   
Garage Spaces: 0.00
•   
Carport Spaces: 0.00
Building Info
•   
Zoning: LAR3
•   
Roof: Composition
•   
Stories Total: 2
Lot Info
•   
Lot Features: Rectangular Lot
•   
Lot Size Source: Assessor
•   
Lot Size Acres: 0.2451
•   
Lot Size Area: 10678.0000
•   
Lot Size Units: Square Feet
Community Info
•   
Number Of Buildings: 1
•   
Total Units: 10
Property Type
•   
Architectural Style: Mid Century Modern
Property Features
•   
Property Condition: Repairs Cosmetic
Exterior Features
•   
Direction Faces: East
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Operating Income: 70026.00
•   
Vacancy Allowance Rate: 0.00
•   
Total Actual Rent: 11746.00
•   
Total Expenses: 67178.00
•   
Gross Multiplier: 18.45
•   
Rent Control Yn: 1
Tax/Assessment Info
•   
Gross Income: 137203.00
•   
Tax Year: 2021
•   
Taxes: 10601.79
Lease Info
•   
Net Operating Income: 70026.00
Listing Info
•   
Status: Closed
Multi Unit Information
Unit 1 Information
•   
Unit 1 Bedrooms: 1
•   
Unit 1 Total Units: 10
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Bathrooms: 1
•   
Unit 1 Actual Rent: 1175.00
•   
Unit 1 Total Rent: 11746.00
Multi Unit Information
•   
# Of Units: 13
School Neighborhood & Directions
School Info
•   
Directions: Hollywood Blvd, north on N Harvard Blvd. Building is on the left at the corner of Loma Linda Ave and N Harvard Blvd.
Other
Calculation
•   
Dom: 57

Neighborhood snapshot

29
Properties for sale
16
Median days on market
$799.50
Median sold price/sqft
103.62%
Sold/List %
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Property History for 5300 Loma Linda Avenue

04/27/2022
04/27/2022
CRMLS #21106539
sold
CRMLS #21106539
$2,600,000
11/18/2021
11/18/2021
CRMLS #21106539
active
CRMLS #21106539
$2,600,000

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