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    372 Columbia Ave Los Angeles, CA 90017

    Sponsored
    For Sale
    $3,050,000

    18-Unit Multifamily Investment

    Property size:
    14,983 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional 18-unit apartment building, located at 372 Columbia Avenue in Los Angeles, CA 90017, presents a compelling investment opportunity. Built in 1940, this two-story, 14,983 square foot building sits on a 22,792 square foot lot zoned LAR3. The property boasts a mix of one and two-bedroom units, including thirteen one-bedroom/one-bathroom, four two-bedroom/one-bathroom, and one two-bedroom/1.5-bathroom unit. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $156,355, representing a 5.13% cap rate. A pro-forma NOI of $281,453 projects a 9.23% cap rate. Recent capital improvements include a new roof (2020), staircase railing repairs (2021), and new water heaters in approximately half the units (2023), along with a voluntary foundation upgrade in 2015. The property features a gated courtyard, ample on-grade parking for approximately 19 vehicles, and many units retain original period details. Situated in the highly walkable Westlake neighborhood (Walk Score 91, Transit Score 92), the building benefits from its proximity to Downtown LA, major employers, public transportation (a 16-minute walk from the Metro B and D lines), and other desirable Los Angeles neighborhoods including MacArthur Park, Echo Park, Koreatown, and Wilshire Center. The asking price is $3,050,000, or $169,444 per unit. This property offers a blend of strong current performance and significant value-add potential.

    Property Features for 372 Columbia Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    14,983 SF

    Building Details

    Year Built
    1940
    Buildings
    1
    Stories
    2
    Units
    18

    HighLights

    • 18‑unit garden‑style apartment complex at 372 Columbia Avenue, Westlake, CA 90017.
    • Recent capital improvements include roof replacement (2020), staircase railing repairs/replacements (2021), and foundation upgrades (2015).
    • Excellent Westlake location near Downtown LA, MacArthur Park, and other key neighborhoods.
    • Highly walkable (Walk Score 91) and transit‑rich (Transit Score 92) neighborhood.
    • Approximately 19 gated parking spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Law Firm Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.2654359
    Latitude
    34.0574682

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    FAQs

    What type of property is this?
    Multifamily property - 18-Unit Multifamily Investment
    Where is this multifamily property located?
    The property is located at 372 Columbia Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $3,050,000.
    What are key features of this property?
    This property features: 18-unit garden-style apartment complex at 372 Columbia Avenue, Westlake, CA 90017.; Recent capital improvements include roof replacement (2020), staircase railing repairs/replacements (2021), and foundation upgrades (2015).; Excellent Westlake location near Downtown LA, MacArthur Park, and other key neighborhoods.
    Request Owner's contact information
    372 Columbia Ave Los Angeles, CA 90017
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    Los Angeles, CA 90017
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    372 Columbia Ave Los Angeles, CA 90017
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