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717 Columbia Ave 37 Unit Apartment Building $3,700,000 ($100,000/Unit) 5.43% Cap Rate Los Angeles, CA 90017
Investment Highlights
- 2-story building, no elevator
- Small efficient units with affordable rental price
- Wood Frame / Stucco
- Prime Location – Centrally located with convenient access to employment centers, transit, dining, and entertainment
Executive Summary
717 Columbia Avenue presents a unique multifamily investment opportunity in the Westlake area of Downtown Los Angeles just West of the 110 Freeway and East of Koreatown. The 2-story wood frame/stucco property consists of a 37-unit residential building with a diverse unit mix that includes 1 single unit, 28 bachelor units (own bathroom with shower but no kitchen), and 8 single-room occupancy units - SRO (no bathroom and no kitchen). The property has a shared community kitchen for all units and community bathrooms for the 8 SRO units. The property is master metered for gas and electric and has no parking.
Situated in walking distance to LA Live and Crypto.com Arena, the property benefits from strong rental demand driven by nearby employment centers, public transit access, and a wide range of dining, retail, and entertainment options. In addition, there are many nearby colleges. The small and efficient unit mix is well-suited to tenants seeking affordable living options within the city core.
With its prime location and efficient unit configuration, 717 Columbia Avenue provides investors with the potential for steady cash flow and long-term appreciation in one of Los Angeles’ most dynamic rental markets.
Situated in walking distance to LA Live and Crypto.com Arena, the property benefits from strong rental demand driven by nearby employment centers, public transit access, and a wide range of dining, retail, and entertainment options. In addition, there are many nearby colleges. The small and efficient unit mix is well-suited to tenants seeking affordable living options within the city core.
With its prime location and efficient unit configuration, 717 Columbia Avenue provides investors with the potential for steady cash flow and long-term appreciation in one of Los Angeles’ most dynamic rental markets.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$369,964
|
$11.76
|
| Other Income |
$4,440
|
$0.14
|
| Vacancy Loss |
$11,232
|
$0.36
|
| Effective Gross Income |
$363,172
|
$11.55
|
| Taxes |
$46,250
|
$1.47
|
| Operating Expenses |
$116,053
|
$3.69
|
| Total Expenses |
$162,303
|
$5.16
|
| Net Operating Income |
$200,869
|
$6.39
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $369,964 |
| Annual Per SF | $11.76 |
| Other Income | |
|---|---|
| Annual | $4,440 |
| Annual Per SF | $0.14 |
| Vacancy Loss | |
|---|---|
| Annual | $11,232 |
| Annual Per SF | $0.36 |
| Effective Gross Income | |
|---|---|
| Annual | $363,172 |
| Annual Per SF | $11.55 |
| Taxes | |
|---|---|
| Annual | $46,250 |
| Annual Per SF | $1.47 |
| Operating Expenses | |
|---|---|
| Annual | $116,053 |
| Annual Per SF | $3.69 |
| Total Expenses | |
|---|---|
| Annual | $162,303 |
| Annual Per SF | $5.16 |
| Net Operating Income | |
|---|---|
| Annual | $200,869 |
| Annual Per SF | $6.39 |
Property Facts
| Price | $3,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $100,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 5.43% | Building Size | 9,936 SF |
| Gross Rent Multiplier | 9.88 | Average Occupancy | 100% |
| No. Units | 37 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1922 |
| Property Subtype | Apartment | ||
| Zoning | R3, Los Angeles | ||
| Price | $3,700,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| Cap Rate | 5.43% |
| Gross Rent Multiplier | 9.88 |
| No. Units | 37 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 9,936 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1922 |
| Zoning | R3, Los Angeles |
Amenities
- Smoke Detector
Unit Amenities
- Heating
- Ceiling Fans
- Vinyl Flooring
Site Amenities
- Controlled Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,000 | 375 |
| Studios | 28 | $900.00 | 235 |
| Studios | 8 | $700.00 | 125 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5142-022-006 | Total Assessment | $1,386,236 |
| Land Assessment | $853,070 | Annual Taxes | $46,250 ($4.65/SF) |
| Improvements Assessment | $533,166 | Tax Year | 2025 |
Property Taxes
Parcel Number
5142-022-006
Land Assessment
$853,070
Improvements Assessment
$533,166
Total Assessment
$1,386,236
Annual Taxes
$46,250 ($4.65/SF)
Tax Year
2025
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717 Columbia Ave
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