The Loma Linda Apartments, in the up-and-coming Thai Town neighborhood of Los Angeles, is a 10-unit multi-family building built in 1947. The property is located at 5300 Loma Linda Avenue and is comprised of 1 Studio, 8 one-bed/one-bath units and 1 two-bed/one-bath unit across 7,532 gross square feet of improvements on 10,678 square feet of land. Utilities are separately metered for electricity and gas. Some of the units have been lightly updated by current ownership, with room for more growth. In addition, a new roof was installed about 10 years ago and new water heaters 5 years ago. The Loma Linda Apartments are an ideal investment opportunity for all renovation-oriented buyers. As the units turn, it will allow new ownership to immediately renovate, remodel and reposition the property to capture a higher-income tenant base and top-of-market rents. Located on the northeast edge of Hollywood, Thai Town neighborhood is a six-block area flanking Hollywood Blvd. between Normandie Ave. and Western Ave. Thai Town borders Los Feliz and East Hollywood. 5300 Loma Linda Ave. offers tenants immediate access to a broad selection of world class dining, entertainment, and shopping destinations easily accessible by walking or a short drive. Retailers within walking distance include Target, Chase Bank, Starbucks, Ralphs Supermarket and Petco. Within 0.5 miles of the property is the headquarters of Netflix, Sunset Bronson Studios, Emerson College and KTLA 5. The Loma Linda Apartments are less than 0.3 miles to the nearby Red Line Metro Station at the corner of Hollywood Blvd. and Western Ave. and the area is served by the Metro Rapid bus lines 757 & 780 and Metro Local bus lines 180, 181, 206, 207, & 217.
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