6% Cap Rate 100% Occupied | 316 Columbia Ave
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6% Cap Rate 100% Occupied 316 Columbia Ave
7 Unit Block of Flats £2,395,317 (£342,188/Unit) 6.01% Net Initial Yield Los Angeles, CA 90017
Investment Highlights
- Once in a lifetime 100% Fully renovated & 100% Fully occupied 7-unit apartment building with permits
- Nearly RTI plans to add 2 detached ADUs to achieve a remarkable 8% Cap Rate and 9.6 GRM
- Excellent Westlake location just steps away from the trendy Echo Park, FilipinoTown, DTLA, and Koreatown
- Cash flowing at an amazing 6% Cap Rate and 12.1 GRM from day 1
- Large 7,084 SF R3-1 Lot TOC Tier 2 with future development potential
- Individually Metered for Gas & Electricity
Executive Summary
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.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £2,395,317 | Apartment Style | Low Rise |
| Price Per Unit | £342,188 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Net Initial Yield | 6.01% | Building Size | 4,444 SF |
| Gross Rent Multiplier | 12.16 | Average Occupancy | 100% |
| No. Units | 7 | Number of Floors | 2 |
| Property Type | Residential | Year Built/Renovated | 1953/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.35/1,000 SF |
| Price | £2,395,317 |
| Price Per Unit | £342,188 |
| Sale Type | Investment |
| Net Initial Yield | 6.01% |
| Gross Rent Multiplier | 12.16 |
| No. Units | 7 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 4,444 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built/Renovated | 1953/2023 |
| Parking Ratio | 1.35/1,000 SF |
Unit Amenities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 4 | £2,029 | - |
| 2+1 | 2 | £2,571 | - |
| 3+2 | 1 | £3,322 | - |
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Walk Score®
Walker's Paradise (90)
Transit Score®
Rider's Paradise (90)
PROPERTY TAXES
| Parcel Number | 5153-026-006 | Improvements Assessment | £84,303 |
| Land Assessment | £758,723 | Total Assessment | £843,026 |
PROPERTY TAXES
Parcel Number
5153-026-006
Land Assessment
£758,723
Improvements Assessment
£84,303
Total Assessment
£843,026
zoning
| Zoning Code | R3-1 (Restricted Density Multiple Dwelling) |
| R3-1 (Restricted Density Multiple Dwelling) |
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6% Cap Rate 100% Occupied | 316 Columbia Ave
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