318 Columbia Avenue
Los Angeles, CA 90017
Listing provided courtesy of: Keller Williams Los Angeles
Property Description
Price Reduction! Once in a lifetime 100% Fully Renovated & 100% Fully Occupied 7-unit apartment building with permits cash flowing at an amazing 7.25% Cap Rate from day 1! Fully Approved RTI plans to add 6 detached ADUs to achieve a remarkable 10.4% Cap Rate and 7.6 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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Features:
Central Air Laminate
| Price: | $2,575,000 |
| Beds: | 11 |
| Baths: | 8 |
| Interior (SQFT): | 4,444 |
| Lot Size (SQFT): | 6,970 |
| Property Type: | Residential Income |
| Year Built: | 1953 |
Listing provided courtesy of: Keller Williams Los Angeles. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Based on information from California Regional MLS. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. © 2025 by California Regional MLS. All rights reserved. Listing last updated on 12/03/2025 16:22:04
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