Once in a lifetime 100% Fully Renovated & 100% Fully Occupied 7-unit apartment building with permits cash flowing at an amazing 6.5% Cap Rate from day 1! Fully Approved RTI plans to add 6 detached ADUs to achieve a remarkable 9.6% Cap Rate and 8.1 GRM after taking 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.
Property Details
Price:
$2,795,000
MLS #:
25543895
Status:
Active
Baths:
0
Address:
318 Columbia Avenue
Type:
Residential Income
Neighborhood:
c42downtownla
City:
Los Angeles
Listed Date:
Jun 10, 2025
State:
CA
ZIP:
90017
Lot Size:
7,086 sqft / 0.16 acres (approx)
Year Built:
1953
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Schools
Interior
Cooling
Central Air
Flooring
Laminate
Heating
Central
Exterior
Parking Spots
3.00
Stories Total
2
View
City Lights
Financial
Tenant Pays
Gas, Electricity, Trash Collection, Water
Map
Community
- Address318 Columbia Avenue Los Angeles CA
- AreaC42 – Downtown L.A.
- CityLos Angeles
- CountyLos Angeles
- Zip Code90017
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318 Columbia Avenue
Los Angeles, CA
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