Log In/Sign Up
Your email has been sent.
Existing 7.5% Cap Rate with upside to 10.6% 316 Columbia Ave 7 Unit Apartment Building $2,495,000 ($356,429/Unit) 7.50% Cap Rate Los Angeles, CA 90017
Investment Highlights
- Once in a lifetime 100% Fully renovated & 100% Fully occupied 7-unit apartment building with permits
- RTI plans to add 6 detached ADUs while taking into account all constructions costs (~$250/SF ~566k)
- Cash flowing at an amazing 7.5% Cap Rate from day 1 with upside to 10.6% Cap Rate and 7.4 GRM
Executive Summary
Huge 500k Price Reduction! Once in a lifetime 100% Fully Renovated & 100% Fully Occupied 7-unit apartment building with permits cash flowing at an amazing 7.5% Cap Rate from day 1! Fully Approved RTI plans to add 6 detached ADUs to achieve a remarkable 10.6% Cap Rate and 7.4 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.
Property Facts
| Price | $2,495,000 | Apartment Style | Low-Rise |
| Price Per Unit | $356,429 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 7.50% | Building Size | 4,444 SF |
| Sale Condition | Redevelopment Project | Average Occupancy | 100% |
| Gross Rent Multiplier | 10 | No. Stories | 2 |
| No. Units | 7 | Year Built/Renovated | 1953/2023 |
| Property Type | Multifamily | Parking Ratio | 1.35/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3-1 - Restricted Density Multiple Dwelling | ||
| Price | $2,495,000 |
| Price Per Unit | $356,429 |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| Sale Condition | Redevelopment Project |
| Gross Rent Multiplier | 10 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 4,444 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1953/2023 |
| Parking Ratio | 1.35/1,000 SF |
| Zoning | R3-1 - Restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Storage Space
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Smoke Detector
1 1
Walk Score®
Walker's Paradise (91)
Transit Score®
Rider's Paradise (90)
Property Taxes
| Parcel Number | 5153-026-006 | Improvements Assessment | $106,120 |
| Land Assessment | $955,087 | Total Assessment | $1,061,207 |
Property Taxes
Parcel Number
5153-026-006
Land Assessment
$955,087
Improvements Assessment
$106,120
Total Assessment
$1,061,207
1 of 17
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Existing 7.5% Cap Rate with upside to 10.6% | 316 Columbia Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.