Listing provided courtesy of Alex 'Zan' Sacker of KW Advisors. Last updated 2024-05-02 08:11:23.000000. Listing information © 2023 CRMLS.
Asking Price: $2,695,000
318 Columbia, Los Angeles CA 90017
Community: C42 - Downtown L.A.
Status: Active
This property was built in 1953 and is priced at $2,695,000. Please see the additional details below.
Huge 200k Price Reduction! Once in a lifetime 100% Fully Renovated 7-unit apartment building with permits cash flowing at an amazing 6.6% Cap Rate and 11.2 GRM from day 1! Additionally, there are nearly RTI plans to add 2 detached ADUs to achieve a remarkable 8.7% Cap Rate and 8.9 GRM on proforma. All 7 units have been completely remodeled from the studs with permits (3 Vacant) 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 (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.
