318 Columbia Avenue

Los Angeles, CA 90017

$2,950,000
Price
11
Beds
8
Baths
4,444 Sq. Ft.
$664 / Sq. Ft.
4,444
Sq. Ft.
$664
per Sq. Ft.

Description

Once in a lifetime 100% Fully Renovated & 100% Fully Occupied 7-unit apartment building with permits cash flowing at an amazing 6% Cap Rate and 12 GRM from day 1! Additionally, there are nearly RTI plans to add 2 detached ADUs to achieve a remarkable 8% Cap Rate and 9.6 GRM on proforma. 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....Once in a lifetime 100% Fully Renovated & 100% Fully Occupied 7-unit apartment building with permits cash flowing at an amazing 6% Cap Rate and 12 GRM from day 1! Additionally, there are nearly RTI plans to add 2 detached ADUs to achieve a remarkable 8% Cap Rate and 9.6 GRM on proforma. 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.
  1. Listed by Alex 'Zan' Sacker • DRE #01279796 • Brokerage DRE #01854200 • KW Advisors

Property Details for 318 Columbia Avenue

Zoning
LAR3
Style
Contemporary
Parcel Number
5153026006
Total Units
7.0
Living Area
4444
Source Living Area
Developer
Area
Downtown L.A. (C42)
Vacancy Rate
0
LISTING UPDATED: 11/15/2024 12:01 AM

Property Details for 318 Columbia Avenue

StatusActive
MLS #24-460519
Days on Market14
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1953
Lot Size0.16 AC / 7,086 SF
CountyLos Angeles County

Building Information for 318 Columbia Avenue

Stories2Residences-Year Built1953Building Size-Lot Size0.16 AC / 7,086 SF

Property Information for 318 Columbia Avenue

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Mix
  • View: Yes
  • View Description: City Lights, City
  • View: City Lights
  • Direction Faces: West
  • ADA Compliance: No
  • Additions Alterations: Yes
  • Building Permit: Yes
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash To New Loan
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $233,789
  • Net Operating Income: $181,554.00
  • Gross Income: $242,601
  • Cap Rate: 6.01%
  • Gross Rent Multiplier: $12.16
  • Actual Annual Gross Rent: $242,601.00
  • Total Annual Expense: 53770
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1627
  • Lot Size Square Feet: 7086
Parking Details
Parking Details
  • Parking Garage: Detached
  • Total Parking: 3
  • Attached Garage: No
Interior Features
Interior Features
  • Room Type: Bonus Room
  • Rooms: Converted Garage, Other, Bonus Room
  • Levels: Multi/Split
  • Den: No
  • Family Room: 0
  • Dining Room: 0
  • Cooling: Central Air
  • Cooling Type: Air Conditioning, Central
  • Heating: Central
  • Heating Type: Central
  • Flooring: Laminate
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-07-2024
  • Tenant Pays: Gas, Electricity, Trash Collection, Water
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,454.00
  • Unit Actual Rent: $2,450.00
  • Unit Projected Rent: $2,499.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,454.00
  • Unit Actual Rent: $2,450.00
  • Unit Projected Rent: $2,499.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,499.00
  • Unit Actual Rent: $2,495.00
  • Unit Projected Rent: $2,499.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,499.00
  • Unit Actual Rent: $2,495.00
  • Unit Projected Rent: $2,499.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,166.00
  • Unit Actual Rent: $3,166.00
  • Unit Projected Rent: $3,166.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,052.00
  • Unit Actual Rent: $3,052.00
  • Unit Projected Rent: $3,166.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $4,091.00
  • Unit Actual Rent: $4,091.00
  • Unit Projected Rent: $4,091.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,499.00
  • Like Units: 1
Unit 9 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,499.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $102,000.00
  • Assessed Improvement Percent: 10.0
  • Assessed Land Value: $918,000.00
  • Assessed Land Percent: 90
  • Assessed Total Value: $1,020,000.00

Property History for 318 Columbia Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 318 Columbia Avenue

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
John H. Liechty Middle School
Public6 to 8

Belmont Senior High 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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318 Columbia Avenue is a multi-family home for sale in Los Angeles, CA 90017. This property was listed for sale on November 7, 2024 by KW Advisors, it's currently listed at $2,950,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Gratts Learning Academy For Young Scholars (Glays), John H. Liechty Middle School and Contreras Learning Center-School Of Social Justice. 318 Columbia Avenue is a 11-bed, 8-bath, 4,444 sqft multi-family home built in 1953.

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 KW Advisors, Alex 'Zan' Sacker, DRE #01279796

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.