372 Columbia Ave, Los Angeles, CA 90017 – 24-456587

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 14,526 sqft

Price per Sqft $209

MLS Listing ID 24-456587

Bedrooms 23

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 Downtown L.A.

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating Other

Cooling Other

Equipment Other

Exterior

Garage Covered Parking, Uncovered

Garage Spaces 19.0

Building

Story 2

Others

Special Listing Condition Standard