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$3,050,000
Est. payment /mo
23 Beds
19 Baths
14,526 SqFt
UPDATED:
12/05/2024 05:15 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 14,526 sqft
Price per Sqft $209
MLS Listing ID 24456587
Bedrooms 23
HOA Y/N No
Year Built 1940
Lot Size 0.525 Acres
Property Description
372 Columbia Avenue is an 18-unit courtyard apartment community in the Westlake District of Los Angeles (90017), immediately adjacent to Downtown LA and Echo Park. It is being offered for sale for the first time in over 40 years, providing investors with an opportunity to acquire a value-add opportunity in one of LA's stable and dynamic neighborhoods. Built in 1940, 372 Columbia Avenue, a garden-style apartment community attracts residents who appreciate the asset's style, spacious apartments, and proximity to major Los Angeles employers. 372 Columbia features an exceptional unit composition consisting of One (1) 2 Bedroom | 1.5 Bathroom, Four (4) 2 Bedroom | 1 Bathroom units, and Thirteen (13) 1 Bedroom | 1 Bathroom units. 372 Columbia Avenue comprises +/- 14,983 SF of improvements and is sited on a +/- 22,792 SF parcel zoned LAR3. Most apartment units are accessed through a gated landscaped courtyard. Resident parking is accessed via a secured driveway and features approximately Nineteen (19) on-grade parking spaces. Many units still feature period designs and details prevalent in 1940s garden-style properties, namely large spacious units, dedicated dining rooms/breakfast nooks, bay windows, ornamental window shutters, ironwork, crown molding, and many built-ins and closets. Select units offer stunning views of Downtown Los Angeles and the towering skyline. In recent years, current ownership has completed several meaningful capital expenditures, such as new water heaters in nearly half the units (2023), replacement/repair of all the building's staircase railings (2021), re-roofing with Class A materials (including tear-off) (2020), and voluntary foundation upgrade and bracing (2015). Due to its proximity to some of LA's most sought-after cities, 372 Columbia Avenue is an attractive rental option. Westlake is adjacent to Downtown Los Angeles, MacArthur Park, Rampart Village, Echo Park, Koreatown, and Wilshire Center. It has a Walk Score of 91 and a Transit Score of 92, offering world-class access to public transportation. 372 Columbia Avenue is a few blocks from the Metro B Line (Red) and the Metro D Line (Purple) at the Westlake / MacArthur Park Station stop.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features Covered, Uncovered
Total Parking Spaces 19
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5153021003
Special Listing Condition Standard
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Listed by Nick Astrupgaard • KW Commercial Studio City