316 Columbia Ave, Los Angeles, CA 90017
- $2,195,000
- 11
- BD
- 8
- BA
- 4,444
- SqFt
- List Price
- $2,195,000
- Price Change
- ▼ $55,000 1788206659
- MLS#
- 26866465
- Year Built
- 1953
- Bedrooms
- 11
- Bathrooms
- 8
- Living Sq. Ft
- 4,444
- Lot Size
- 7,086
- Days on Market
- 50
- Property Type
- Multifamily
- Style
- Contemporary
- Stories
- 2
Property Description
Huge 800k 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 11.4% Cap Rate and 6.7 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.
Additional Information
- Other Buildings
- None
- Heat
- Central
- Cooling
- Air Conditioning, Central
- View
- City Lights, City
- Number of Cars in Garage
- Detached
Mortgage Calculator
Courtesy of KW Westside Estates, Alex 'Zan' Sacker - CA DRE#01279796
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