318 Columbia Avenue
Los Angeles, CA, 90017
$2,950,000
Beds
0 Baths
SqFt
0.16 Acres
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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 #:
24460519
Status:
Active
Baths:
0
Address:
318 Columbia Avenue
Type:
Residential Income
Neighborhood:
c42downtownla
City:
Los Angeles
Listed Date:
Nov 7, 2024
State:
CA
ZIP:
90017
Lot Size:
7,086 sqft / 0.16 acres (approx)
Year Built:
1953
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Cooling
Central Air
Flooring
Laminate
Heating
Central

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Parking Spots
3.00
Stories Total
2
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318 Columbia Avenue
Los Angeles, CA