Property listed by Keller Williams Los Angeles, Alex 'Zan' Sacker 310-482-2200
318 Columbia Avenue
Los Angeles, CA 90017
Beds
11
Baths
8
Square Ft.
4,444
$2,575,000
Price Reduction! Once in a lifetime 100% Fully Renovated & 100% Fully Occupied 7-unit apartment building with permits cash flowing at an amazing 7.25% Cap Rate from day 1! Fully Approved RTI plans to add 6 detached ADUs to achieve a remarkable 10.4% Cap Rate and 7.6 GRM after taking… Read More into account all constructions costs (~566k assuming $250/SF). All 7 units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, HVAC systems as well as major exterior capital improvements. Diverse unit mix of 4 (1bed/1bath) units, 2 (2bed/1bath) units, and 1 spacious brand-new (3bed/2bath) unit. Additionally, the major systems have been updated including electrical, plumbing, windows, etc. Individually Metered for Gas & Electricity. Large 7,084 SF R3-1 Lot TOC Tier 2 with future development potential. Excellent Westlake location just steps away from the trendy Echo Park, FilipinoTown, DTLA, and Koreatown. Read Less
Listing Snapshot
Days Online
59
Last Updated
Beds
11
Square Ft.
4,444
Lot Size
0.16 Acres
Year Built
1953
MLS Number
25605343
Additional Details
Building
Built in 1953, Living area: 4444.0, 2 buildings, Building faces West, 2 stories, Levels: MultiSplit
Cooling
CentralAir
Floors
Laminate
Heating
Central
Income
Gross Income: $241,948, Net Operating Income: $186,775
Lot
0.1627 acres
Parking
3 total parking spaces
Property
CityLights
Taxes
Parcel Number: 5153026006, Zoning: LAR3
Tenant Pays
Electricity, Gas, TrashCollection, Water
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