318 Columbia Ave Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90017
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,444 sqft
Price per Sqft $583
MLS Listing ID 24-437845
Style Contemporary
Bedrooms 11
Year Built 1953
Lot Size 7,086 Sqft
Acres 0.1627
Property 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.
Location
State CA
County Los Angeles
Area Downtown L.A.
Zoning LAR3
Rooms
Other Rooms None
Dining Room 0
Interior
Heating Central
Cooling Air Conditioning, Central
Flooring Laminate
Equipment None
Exterior
Garage Detached
Garage Spaces 3.0
View Y/N Yes
View City Lights, City
Building
Story 2
Architectural Style Contemporary
Level or Stories Multi/Split
Others
Special Listing Condition Standard