318 Columbia Ave

Once in a lifetime 100% Fully Renovated & 100% Fully Occupied 7-unit apartment building with permits cash flowing at an amazing 7% Cap Rate from day 1!

Fully Approved RTI plans to add 6 detached ADUs to achieve a remarkable 10.1% Cap Rate and 7.8 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.

This home located at 318 Columbia Ave is currently active and has been available on pardeeproperties.com for 0 day. This property is listed at $2,650,000. It has 11 beds and 8 bathrooms. The property was built in 1953. 318 Columbia Ave is in the Downtown L.A. community of County.

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