Los Angeles, CA 90017 318 Columbia Avenue
$2,650,000
11 more
Presented By: Alex 'Zan' Sacker with KW Advisors;
Home Details
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.
Presented By: Alex 'Zan' Sacker with KW Advisors;
Interior Features for 318 Columbia Avenue
Bedrooms
Total Bedrooms11
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths8
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Fireplace Y/NNo
FlooringLaminate
Heating Y/NYes
Total Stories2
General for 318 Columbia Avenue
Additional Parcels Y/NNo
Architectural StyleContemporary
Attached Garage No
Cap Rate6.75
Carport Y/NNo
CityLos Angeles
CoolingCentralAir
CountyLos Angeles
Days on Market8
DirectionsJust south of 3rd Street
Electric On Property Y/NNo
Facing DirectionWest
Full Baths
Garage Y/NNo
Gross Income241020.0
HeatingCentral
Home Owner AssocNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsMultiSplit
Lot Size Square Feet7086.0
Lot Size UnitsSquareFeet
MLS AreaC42 - Downtown L.A.
MobileHomeRemainsYNNo
Net Operating Income179003.0
New ConstructionNo
NumberOfUnitsTotal7
Private PoolNo
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Tenant PaysElectricity, Gas, TrashCollection, Water
ViewCityLights
View Y/NYes
Waterfront Y/NNo
Year Built1953
ZoningLAR3
Exterior for 318 Columbia Avenue
Building Area Total4444.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1627
Lot Size Area7086.0
Number of Buildings2
Open Parking Y/NNo
SpaNo
Total Parking3.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480