318 Columbia Ave, Los Angeles, CA 90017

$2,695,000
11
BD
8
BA
4,444
SqFt
List Price
$2,695,000
MLS#
24-391261
Year Built
1953
Bedrooms
11
Bathrooms
8
Living Sq. Ft
4,444
Lot Size
7,086
Days on Market
14
Property Type
Multifamily
Style
Contemporary
Stories
2

Property Description

Huge 200k Price Reduction! Once in a lifetime 100% Fully Renovated 7-unit apartment building with permits cash flowing at an amazing 6.6% Cap Rate and 11.1 GRM from day 1! Additionally, there are nearly RTI plans to add 2 detached ADUs to achieve a remarkable 8.7% Cap Rate and 8.9 GRM on proforma. All 7 units have been completely remodeled from the studs with permits (2 Vacant) 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.

Additional Information

Other Buildings
None
Heat
Central
Cooling
Air Conditioning, Central
View
City Lights, City
Number of Cars in Garage
Detached

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of KW Advisors, Alex 'Zan' Sacker - CA DRE#01279796

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