318 Columbia Avenue, Los Angeles, CA 90017
List Price: $2.35M
Listing Status: Active
0Days on Market: 8
11 Bedrooms · 8 Bathrooms · 4,444 sq ft
Property Type: ResidentialIncome
Year Built: 1953
Lot Size: 7,086 sq ft
MLS Number: 26832893
About This Property
Huge 650k Price Reduction! Once in a lifetime 100% Fully Renovated 7-unit apartment building with permits cash flowing at an amazing Current 8% Cap Rate from day 1! Fully Approved RTI plans to add 6 detached ADUs to achieve a remarkable 11.1% Cap Rate and 7 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 provided by: Alex 'Zan' Sacker DRE #01279796 310-482-2200 zan@sackerlovell.com, KW Westside Estates
Source: CRMLS, MLS #: 26832893
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.