501 Loma Drive

Los Angeles, CA 90017

$1,220,000
Last Sold Price
7
Beds
7
Baths
5,237 Sq. Ft.
$233 / Sq. Ft.
5,237
Sq. Ft.
$233
per Sq. Ft.

Description

Major price reduction of $190,000. The new asking price is $1,300,000. 501 South Loma Drive is a 7-unit multifamily property. Built in 1939, the property was constructed of low-density pre-war style architecture with a two-story, walk-up structure with plenty of character. Units offer walk-in closets, hardwood floors, built-in cabinetry and large windows. All units have private garages, and most have front and rear entrances. The unit-mix contains six one-bedrooms with one-bathroom and one unit that...Major price reduction of $190,000. The new asking price is $1,300,000. 501 South Loma Drive is a 7-unit multifamily property. Built in 1939, the property was constructed of low-density pre-war style architecture with a two-story, walk-up structure with plenty of character. Units offer walk-in closets, hardwood floors, built-in cabinetry and large windows. All units have private garages, and most have front and rear entrances. The unit-mix contains six one-bedrooms with one-bathroom and one unit that is a one-bedroom with one-bathroom and a den that features French doors off a large balcony. All units are individually metered for gas and electricity. Two units to be delivered vacant at close-of-escrow. A very early-stage project for 36-units was started. The property location is ideally zoned LAR4 and situated in a Transit Oriented Communities (TOC) Tier 3 zone. Buyer to perform their own due diligence and investigations into this investment offering.
  1. Listed by Brent Sprenkle • DRE #01290116 • Brokerage DRE #00843890 • Berkadia

Property Details for 501 Loma Drive

Zoning
LAR4
Parcel Number
5153006013
Total Units
7.0
Living Area
5237
Source Living Area
Vendor Enhanced
Area
Downtown L.A. (C42)
Vacancy Rate
2
Lot Size Area
8333

Location

Listing Courtesy of Berkadia, Brent Sprenkle, DRE #01290116

Sold By Berkadia, Brent Sprenkle, DRE #01290116

Add your commute
LISTING UPDATED: 08/07/2020 08:13 PM

Property Details for 501 Loma Drive

StatusSold
MLS #20-567060
Days on Market1
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1939
Lot Size0.19 AC / 8,333 SF
CountyLos Angeles County

Location

Listing Courtesy of Berkadia, Brent Sprenkle, DRE #01290116

Sold By Berkadia, Brent Sprenkle, DRE #01290116

Add your commute

Building Information for 501 Loma Drive

Stories2Residences-Year Built1939Building Size-Lot Size0.19 AC / 8,333 SF

Payment Calculator

$8,021 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,658

Property Taxes

$1,363

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 501 Loma Drive

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 7
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $99,031
  • Net Operating Income: $57,487.00
  • Gross Income: $97,380
  • Cap Rate: 4.42%
  • Gross Rent Multiplier: $12.95
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 39893
Land / Lot Info
Land / Lot Info
  • Lot Size Square Feet: 8333
  • Geocode Override: 0.0
Parking Details
Parking Details
  • Parking Garage: Garage
  • Total Parking: 7
  • Parking Features: Garage
Interior Features
Interior Features
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-26-2020
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,179.00
  • Unit Actual Rent: $8,252.00
  • Unit Projected Rent: $11,200.00
  • Like Units: 7
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $302,382.00
  • Assessed Land Value: $707,283.00

Property History for 501 Loma Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 501 Loma Drive

Taxable ValueLand$509,796Additions$759,692Total$1,269,488
Tax Record2023$16,354 ($1,363 / month)
Home Facts
Total Finished SqFt5,237 SqFtAbove Grade Finished SqFt5,237 SqFtLot Size8,333 SqFtStyleMulti-Family Res (5+ Units)Year Built1939ZoningLAR4CountyLOS ANGELESAPN5153-006-013

Schools near 501 Loma Drive

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
John H. Liechty Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkadia, Brent Sprenkle, DRE #01290116

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.