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.
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