Once in a lifetime 100% Fully Renovated & 100% Fully Occupied 7-unit apartment building with permits cash flowing at an amazing 6% Cap Rate and 12 GRM from day 1! Additionally, there are nearly RTI plans to add 2 detached ADUs to achieve a remarkable 8% Cap Rate and 9.6 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.
Property Details
Price:
$2,950,000
MLS #:
25482313
Status:
Active
Baths:
0
Address:
318 Columbia Avenue
Type:
Residential Income
Neighborhood:
c42downtownla
City:
Los Angeles
Listed Date:
Jan 14, 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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Courtesy of KW Advisors. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2025. California Regional Multiple Listing Service. All rights reserved.318 Columbia Avenue
Los Angeles, CA
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