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Listing Details

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Type
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School Ratings & Info

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Description

Situated just a short distance to Echo Park and downtown, sits this opportunity to have a great building in your portfolio to later develop if wanted.With the ability to build up to 15 units on this large lot, there is tremendous potential given its R3 zoning. Currently 6 units total (4 singles and 2 one bedrooms) with no vacancies or late rents all of which being long term. Two separate structures with plenty of onsite parking (8 total spaces). Below market rents with plenty of upside and low operating costs, one could collect rents while applying for permits and plans. With close proximity to Good Samaritan hospital and New Academy of Science and Art, Gratts Elementary and Primary schools, freeways, downtown, Staples Center, L.A. Live etc. Each unit separately metered for gas and electric. DO NOT DISTURB TENANTS.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-20T23:42:31.727. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.desertarealuxuryhomes.com/homes/109593707
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316 Columbia Ave Los Angeles, CA 90017

  • Price: $1,149,999
  • Status: Active
  • Updated: 63 min ago
  • MLS #: 20-626742
4
Beds
0
Baths
0
½ Baths
0.16
Acres
3,409
SQFT
$337
$/SQFT
1953
Built
Neighborhood:
Downtown L.A.
County:
Los Angeles
Area:
Downtown L.A.
School District:
Los Angeles Unified
Property Description
Situated just a short distance to Echo Park and downtown, sits this opportunity to have a great building in your portfolio to later develop if wanted.With the ability to build up to 15 units on this large lot, there is tremendous potential given its R3 zoning. Currently 6 units total (4 singles and 2 one bedrooms) with no vacancies or late rents all of which being long term. Two separate structures with plenty of onsite parking (8 total spaces). Below market rents with plenty of upside and low operating costs, one could collect rents while applying for permits and plans. With close proximity to Good Samaritan hospital and New Academy of Science and Art, Gratts Elementary and Primary schools, freeways, downtown, Staples Center, L.A. Live etc. Each unit separately metered for gas and electric. DO NOT DISTURB TENANTS.
Exterior Features

Covered Parking 4 Direction Faces West Entry Location Ground Level W/Steps Exterior Construction Hard Coat Levels Multi/Split Lot Location City Lot Size Area 7084 Other Structures None Parking Garage CarportCarport AttachedDetachedDrivewayCovered ParkingAttachedAbove Street Level Pool Description None Pool YN No Roof Composition Spa None Spa YN No Style Contemporary Tennis Court None Tennis YN No Total Parking 8 View Description City View YN Yes Water Frontage None

Interior Features

Baths Total 6.00 Common Walls Attached Cooling None Equipment None Fireplace Rooms None Flooring Mixed Foundation Details None Heating Wall Laundry CommunityOutside Laundry Equipment Own Water Heater Features Multi-Tank

Property Features

ADACompliance No Assessed Total Value 386846 Gross Income 64732 Gross Operating Income 64732 Like Units1 4 Like Units2 2 Net Operating Income 41149.00 Number Of Buildings 2 Number Of Units 6 Owner Pays Gardener Sale Type Standard Security Features GatedSmoke Detector Sewer In Street Source Living Area Assessor Source Lot Size Area Vendor Enhanced Total Annual Expense 24435 Type Of Units Income Water In Street Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of Alex 'Zan' Sacker DRE#01279796 of Keller Williams-Santa Monica.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-20T23:42:31.727. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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The Sandi Phillips Team | Compass
74199 El Paseo, Suite 200
Palm Desert CA, 92260