316 North Bixel Street

Los Angeles, CA 90026

$1,375,000
Price
8
Beds
8
Baths
3,704 Sq. Ft.
$371 / Sq. Ft.
3,704
Sq. Ft.
$371
per Sq. Ft.

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.
  1. Listed by Bryan Glenn • DRE #01441095 • Brokerage DRE #01001040 • Kidder Mathews of California, Inc.

Property Details for 316 North Bixel Street

Zoning
LACW
Parcel Number
5160021022
Total Units
8.0
Living Area
3704
Source Living Area
Vendor Enhanced
Area
Silver Lake (671)
Vacancy Rate
0
Lot Size Area
3276
LISTING UPDATED: 07/02/2024 12:01 AM

Property Details for 316 North Bixel Street

StatusActive
MLS #23-238041
Days on Market87
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1910
Lot Size0.08 AC / 3,276 SF
CountyLos 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

Community / Development
Community / Development
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apts
Contract Info
Contract Info
  • Disclosures: Listing Broker Advantage, As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $121,698
  • Net Operating Income: $81,425.00
  • Gross Income: $125,462
  • Cap Rate: 5.92%
  • Gross Rent Multiplier: $10.96
  • Total Annual Expense: 40273
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.0752
  • Lot Size Square Feet: 3276
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Window Unit(s)
  • Heating Type: Wall Gas
  • Equipment: Ceiling Fan, Freezer, Garbage Disposal, Range/Oven, Refrigerator
  • Interior Features: Ceiling Fan(s)
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 06-26-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,144.00
  • Unit Actual Rent: $4,575.00
  • Unit Projected Rent: $5,400.00
  • Like Units: 4
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,450.00
  • Unit Actual Rent: $5,800.00
  • Unit Projected Rent: $7,600.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $836,638.00
  • Assessed Improvement Percent: 68.18
  • Assessed Land Value: $390,429.00
  • Assessed Land Percent: 31.82
  • Assessed Total Value: $1,227,067.00

Property History for 316 North Bixel Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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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316 North Bixel Street is a multi-family home for sale in Los Angeles, CA 90026. This property was listed for sale on June 24, 2024 by Kidder Mathews of California, Inc., it's currently listed at $1,375,000. It has been on the market for a total of 87 days and was last sold on February 3, 2016. This listing's school district is Los Angeles Unified School District. Nearby schools include Betty Plasencia Elementary School, Sal Castro Middle School and Belmont Senior High School. 316 North Bixel Street is a 8-bed, 8-bath, 3,704 sqft multi-family home built in 1910.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Kidder Mathews of California, Inc., Bryan Glenn, DRE #01441095

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.