316 Columbia Ave - Apartments FOR SALE


Los Angeles, CA 90017- Koreatown
$2,950,000 USD
310-560-1622
316 Columbia Ave, Los Angeles, CA for Sale
$2,950,000 USD
Apartments - FOR SALE
1/16
null | 6.01% Cap Rate

316 Columbia Ave
Los Angeles, CA 90017
Koreatown


HIGHLIGHTS

  • Once in a lifetime 100% Fully renovated & 100% Fully occupied 7-unit apartment building with permits
  • Cash flowing at an amazing 6% Cap Rate and 12.1 GRM from day 1
  • Nearly RTI plans to add 2 detached ADUs to achieve a remarkable 8% Cap Rate and 9.6 GRM
  • 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
  • Individually Metered for Gas & Electricity

OVERVIEW

Once in a lifetime 100% Fully Renovated & 100% Fully Occupied 7-unit apartment building with permits cash flowing at an amazing 6% Cap Rate and 12 GRM from day 1! Additionally, there are nearly RTI plans to add 2 detached ADUs to achieve a remarkable 8% Cap Rate and 9.6 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.

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$664 USD /SF

# OF UNITS

7

PRICE/UNIT

$421,429

CAP RATE

6.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

6% Cap Rate 100% Occupied

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1953

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

R3-1

APN/PARCEL ID

5153-026-006

ASK ABOUT THIS PROPERTY

Zan SackerKW AdvisorsMore Info
310-560-1622

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Zan SackerKW AdvisorsMore Info
310-560-1622

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.