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$ 2,250,000
Est. payment /mo
Active
318 Columbia Avenue Los Angeles, CA 90017
4,444 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,444 sqft
Price per Sqft $506
MLS Listing ID CL26832893
HOA Y/N No
Year Built 1953
Lot Size 7,086 Sqft
Acres 0.1627
Property Sub-Type Other
Property Description
Huge 750k 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 11.6% Cap Rate and 6.8 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.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Other
Cooling Central Air
Flooring Laminate
Fireplace No
Exterior
View Y/N true
View City Lights
Building
New Construction No
Others
Tax ID 5153026006
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Listed by Alex 'Zan' Sacker • KW Westside Estates
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