318 Columbia Avenue
Los Angeles, CA 90017
4444 sqft | 11 beds | 0.16 acres | #24437845
Description
Huge 300k Price Reduction! Once in a lifetime 100% Fully Renovated & 100% Fully Occupied 7-unit apartment building with permits cash flowing at an amazing 7% Cap Rate and 10.7 GRM from day 1! Additionally, there are nearly RTI plans to add 2 detached ADUs to achieve a remarkable 9.3% Cap Rate and 8.5 GRM on proforma. 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.
Interior Details
- Bedrooms11
Property Details
- ViewCityLights
- Stories2
Measurements
- Acres0.1627
- Square Feet4444
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1953
Community and Neighborhood Details
- CountyLos Angeles
Financial Details
- Original List Price$2,650,000
Other
- MLS #24437845
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Alex 'Zan' Sacker (#CLW-X55299)
Listing Office: KW Advisors (#CLW-X74717)
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