316 North Bixel Street
$1,375,000
8
8
3,704
3,704
$371
Description
This is an excellent opportunity to purchase a renovated, 8-unit multifamily asset adjacent to Downtown Los Angeles at the intersection of Historic Filipinotown,Echo Park and City West. The classic, two-story property features a well-maintained woodframe and stucco building with vintage, character architecture. The property includes a mix of one-bedroom and studio units. Six of the eight units have been fully remodeled and are achieving strong rents. The other two units are well below the current...This is an excellent opportunity to purchase a renovated, 8-unit multifamily asset adjacent to Downtown Los Angeles at the intersection of Historic Filipinotown,Echo Park and City West. The classic, two-story property features a well-maintained woodframe and stucco building with vintage, character architecture. The property includes a mix of one-bedroom and studio units. Six of the eight units have been fully remodeled and are achieving strong rents. The other two units are well below the current market rent and will allow for steady increases or a large increase in income when those units vacate. As an investment, the property is offered at an attractive going-in Cap Rate with over 25% remaining upside. The property was recently repainted with character accents throughout. The common area floors and light fixtures were all upgraded while preserving the character of the Property. The six renovated units feature newer, modern flooring, new paint, fully remodeled kitchens and bathrooms, and upgraded electrical. The property also features a spacious upstairs, outdoor terrace available to the tenants for their use. The property is separately metered for gas and electric and master metered for water. There are individual water heaters for each apartment, and there is also coin-operated laundry on-site. There is no on-site parking so the tenants utilize street parking.
- Listed by Bryan Glenn • DRE #01441095 • Brokerage DRE #01001040 • Kidder Mathews of California, Inc.
Property Details for 316 North Bixel Street
Zoning
LACW
Parcel Number5160021022
Total Units8.0
Living Area3704
Source Living AreaVendor Enhanced
AreaSilver Lake (671)
Vacancy Rate0
Lot Size Area3276
LISTING UPDATED: 07/02/2024 12:01 AM
Property Details for 316 North Bixel Street
Status | Active |
---|---|
MLS # | 23-238041 |
Days on Market | 87 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1910 |
Lot Size | 0.08 AC / 3,276 SF |
County | Los Angeles County |
Building Information for 316 North Bixel Street
Stories2Residences-Year Built1910Building Size-Lot Size0.08 AC / 3,276 SF
Property Information for 316 North Bixel Street
Property History for 316 North Bixel Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 316 North Bixel Street
Taxable ValueLand$406,201Additions$870,967Total$1,277,168
Tax Record2023$15,861 ($1,322 / month)
Home Facts
Total Finished SqFt3,704 SqFtAbove Grade Finished SqFt3,704 SqFtLot Size3,276 SqFtStyleMulti-Family Res (5+ Units)Year Built1910ZoningLACWCountyLOS ANGELESAPN5160-021-022
Schools near 316 North Bixel Street
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Betty Plasencia Elementary School PublicK to 5 | ||
Sal Castro Middle School Public6 to 8 | ||
Belmont Senior High School Public9 to 12 | ||
Miguel Contreras Learning Complex School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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