Property Description
Huge 250k Price Reduction! Once in a lifetime 100% Fully Renovated & 100% Fully Occupied 7-unit apartment building with permits cash flowing at an amazing 6.75% Cap Rate and 10.9 GRM from day 1! Additionally, there are nearly RTI plans to add 2 detached ADUs to achieve a remarkable 8.9% Cap Rate and 8.7 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.
Features
: No
: Central
: Central Air
: City Lights
: No
: 3
: No
Address Map
U.S.
California
Los Angeles
Los Angeles
90017
318 Columbia Avenue
0
W119° 44' 7.6''
N34° 3' 31.6''
MLS Addon
$0
4,444 Sqft
: No
: No
6.75
0
West
Just south of 3rd Street
: No
2

Residential Income For Sale Los Angeles

318 Columbia Avenue, Los Angeles, Los Angeles, California, 90017

11 Bedrooms
4,444 Sqft
Visits : 2 in 7 days
$2,650,000
Listing ID #24437845
Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : 24437845
Price : $2,650,000
Bedrooms : 11
Square Footage : 4,444 Sqft
Year Built : 1953
Lot Area : 7,086 Acre
Status : Active
Agent info
Damian M. Ramirez
Damian M. Ramirez
  • 01974515
  • 1213238
  • PWDAMRA
Broker
Broker
A level-headed and composed professional.  Combat veteran and experienced CEO with the ability to train and motivate staff to meet challenging performance targets and consistently satisfy clients with high-quality service.
Contact Agent
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