318 COLUMBIA AVENUE, LOS ANGELES CA 90017

  • 4,444 sq.ft.
  • 7,086 sq.ft. lot
offered at $2,995,000
MLS#:25543895
Status: Active // Property Type:
County: Los Angeles // Year Built: 1953

Property Description

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 12.1 GRM from day 1. Preliminary plans to add 6 detached ADUs to achieve a remarkable 9% Cap Rate and 8.6 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.

Listing Courtesy of Alex 'Zan' Sacker, Keller Williams Los Angeles

Interior Features

Heating: Central
FOR MORE INFORMATION, PLEASE CONTACT AGENT:
  • raj qsar
    CEO | Owner |
    CalBRE# 01744847
    • cell 714.412.5019
    • office 949.612.2535
    email Raj

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