1657 Colby Avenue

Los Angeles, CA 90025

$2,010,000
Last Sold Price
6
Beds
5
Baths
3,336 Sq. Ft.
$603 / Sq. Ft.
3,336
Sq. Ft.
$603
per Sq. Ft.

Description

Highly coveted 5-unit traditional walk-up apartment building on the market for the first time in 43 years and in an incredibly central location nestled between Brentwood, Westwood, and Santa Monica but at a more attractive price. The 2 "penthouse" units (2+1 and 1+1) will be delivered vacant while 3 lower 1+1's come occupied, making this the perfect owner/user, developer, or 1031 exchange property. All units are well maintained with original details and spacious floor plans, while the building enjoys...Highly coveted 5-unit traditional walk-up apartment building on the market for the first time in 43 years and in an incredibly central location nestled between Brentwood, Westwood, and Santa Monica but at a more attractive price. The 2 "penthouse" units (2+1 and 1+1) will be delivered vacant while 3 lower 1+1's come occupied, making this the perfect owner/user, developer, or 1031 exchange property. All units are well maintained with original details and spacious floor plans, while the building enjoys on-site laundry and a new main sewer line and copper/pex plumbing. Exploit tremendous value add opportunity with basic cosmetic improvements or re-imagine into the condo/townhouse complex of your dreams on this 44'x140' R3 lot with rear alley access. Excellent mid-block location surrounded by buildings exhibiting remarkable pride-of-ownership. Price and location combined! Please do not disturb tenants or walk the property.

Property Details for 1657 Colby Avenue

Zoning
LAR3
Style
Traditional
Cross Streets
Santa Monica and Colby
Parcel Number
4261013016
Total Units
5.0
Living Area
3336
Source Living Area
Vendor Enhanced
Area
West Los Angeles (WLA)

Location

Listing Courtesy of Compass, Eric Akutagawa, DRE #01432257
Add your commute
LISTING UPDATED: 04/06/2018 01:53 PM

Property Details for 1657 Colby Avenue

StatusSold
MLS #18-308752
Days on Market14
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1957
Lot Size0.14 AC / 6,142 SF
CountyLos Angeles County

Location

Listing Courtesy of Compass, Eric Akutagawa, DRE #01432257
Add your commute

Building Information for 1657 Colby Avenue

Stories2Residences-Year Built1957Building Size-Lot Size0.14 AC / 6,142 SF

Payment Calculator

$9,679 per month

30 year fixed, 3.85% Interest

Principal and Interest

$7,538

Property Taxes

$2,141

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1657 Colby Avenue

Community / Development
    Community / Development
  • Tax Mello Roos: Unknown
  • Number Of Units: 5
Structure Info
    Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Low Rise
  • Direction Faces: East
  • Property Condition: Repairs Cosmetic
  • Water: District
  • Sewer: In Street
  • Water Heater Features: Central Water Heater
Contract Info
    Contract Info
  • Probate: No
  • Financing: Cash, Cash To New Loan
  • Disclosures: Rent Control, Private Transfer Taxes
  • Listing Type: Exclusive Right (R)
  • Service Level: Full Service
Income & Expenses Information
    Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $105,017
  • Net Operating Income: $66,828.00
  • Gross Income: $107,220
  • Gross Scheduled Income: $107,220
  • Cap Rate: 3.00%
  • Gross Rent Multiplier: $20.98
  • Actual Annual Gross Rent: $107,220.00
  • Actual Gross Annual Income: $105,017
  • Owner Pays: Gardener, Water
  • Total Annual Expense: 38189
  • Water Expense: $1,700.00
  • Gas Expense: $350
  • Electric Expense: $1,700.00
  • Other Expense: $150.00
  • Tax Expense: $28,125
  • Gardener Expense: $840
  • Expense Licenses: $850.00
  • Insurance Expense: $3,274
Land / Lot Info
    Land / Lot Info
  • Additional Parcel Number: No
  • Alley: Yes
  • Paved: Yes
  • Lot Size Square Feet: 6142
  • Lot Size Dimensions: 44x140
  • Source Lot Size Dimensions: Assessor
  • Lot Features: Near Public Transit, Value In Land
  • Lot Location: Near Public Transit
  • Geocode Override: 0.0
  • Assessments: Unknown
Parking Details
    Parking Details
  • Parking Garage: Assigned, Carport Attached, Driveway - Concrete, Tandem, Uncovered
  • Total Parking: 3
  • Covered Parking: 3
  • Open Other Spaces Total: 5
  • Carport Spaces Total: 3
  • Parking Features: Assigned, Attached Carport, Concrete, Uncovered
Interior Features
    Interior Features
  • Levels: Two
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Den: No
  • Family Room: 0
  • Dining Room: 0
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Air Conditioning, Wall or Window Units
  • Heating: Wall Gas
  • Heating Type: Wall Gas
  • Flooring: Carpet
  • Equipment: Range/Oven
  • Kitchen Features: Formica Counters
  • Common Walls: Attached
  • Cooking Appliances: Free Standing Gas
  • Laundry: Individual Room, Community
  • Laundry Equipment: Lease
Exterior Features
    Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Roof: Composition, Shingle
  • Construction: Frame
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Construction MVO: Frame and Stucco
Lease Terms
    Lease Terms
  • Entry Date: 01-31-2018
  • Listing Terms: Cash, Cash To New Loan
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Cable TV, Electricity, Gas
Unit Details
    Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,405.00
  • Unit Actual Rent: $1,405.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
    Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,700.00
  • Unit Actual Rent: $1,700.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
    Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,580.00
  • Unit Actual Rent: $1,580.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
    Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
    Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,400.00
  • Like Units: 1
    Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
  • Number of Carpet: 5
  • Number of Electric Meters: 6
  • Number of Gas Meters: 6
  • Number Range: 5
Tax and Assessed Info
    Tax and Assessed Info
  • Assessed Improvement Value: $91,520.00
  • Assessed Land Value: $111,402.00

Property History for 1657 Colby Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1657 Colby Avenue

Taxable ValueLand$1,576,767Additions$536,101Total$2,112,868
Tax Record2021$25,688 ($2,141 / month)
Home Facts
Total Finished SqFt3,336 SqFtAbove Grade Finished SqFt3,336 SqFtLot Size6,142 SqFtStyleMulti-Family Res (5+ Units)Year Built1957Year Renovated1957ZoningLAR3CountyLOS ANGELESAPN4261-013-016

Schools near 1657 Colby Avenue

This home is within Los Angeles Unified School District.
RatingSchoolTypeGradesDistance
Public - K to 5
Public - 6 to 8
Charter - 9 to 12
Charter - K to 5
RatingSchoolDistance
Nora Sterry Elementary School
PublicK to 5

Daniel Webster Middle School
Public6 to 8

University Senior High School Charter
Charter9 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.

Similar Homes

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Similar Sold Homes

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Listing Courtesy of Compass, Eric Akutagawa, DRE #01432257

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association 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 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.