318 Columbia Avenue, Los Angeles, CA 90017
- $2,250,000
- 11
- BD
- 8
- BA
- 4,444
- SqFt
- List Price
- $2,250,000
- Status
- ACTIVE
- MLS#
- 26866465
- Year Built
- 1953
- Bedrooms
- 11
- Bathrooms
- 8
- Living Sq. Ft
- 4,444
- Lot Size
- 7,086
- Acres
- 0.16
- Days on Market
- 3
- Property Type
- Multifamily
- Style
- Contemporary
- Stories
- Multi Level
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.
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Additional Information
- Heat
- Central
- Cooling
- Yes
- Cooling Description
- Central Air
- View
- City Lights
- Attached Structure
- Detached
- Number Of Units Total
- 7
- Levels
- Multi/Split
- Parking Spaces
- 3
Listing courtesy of Listing Agent: Alex 'Zan' Sacker (zan@sackerlovell.com) from Listing Office: KW Westside Estates.
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