316 Columbia Avenue

Los Angeles, CA 90017

$1,000,000
Last Sold Price
4
Beds
6
Baths
3,409 Sq. Ft.
$293 / Sq. Ft.
3,409
Sq. Ft.
$293
per Sq. Ft.

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...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.
  1. Listed by Alex 'Zan' Sacker • DRE #01279796 • Brokerage DRE #01854200 • KW Advisors

Property Details for 316 Columbia Avenue

Water Front
None
Zoning
LAR3
Style
Contemporary
Parcel Number
5153026006
Total Units
6.0
Living Area
3409
Source Living Area
Assessor
Area
Downtown L.A. (C42)

Location

Listing Courtesy of KW Advisors, Alex 'Zan' Sacker, DRE #01279796

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

Add your commute
LISTING UPDATED: 02/17/2022 12:58 PM

Property Details for 316 Columbia Avenue

StatusSold
MLS #20-626742
Days on Market500
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1953
Lot Size0.16 AC / 7,084 SF
CountyLos Angeles County

Location

Listing Courtesy of KW Advisors, Alex 'Zan' Sacker, DRE #01279796

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

Add your commute

Building Information for 316 Columbia Avenue

Stories2Residences-Year Built1953Building Size-Lot Size0.16 AC / 7,084 SF

Payment Calculator

$6,569 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,457

Property Taxes

$1,112

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 316 Columbia Avenue

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Income
  • View: Yes
  • View Description: City
  • View: City Lights
  • Security Features: Gated, Smoke Detector
  • Direction Faces: West
  • Water: In Street
  • Sewer: In Street
  • Water Heaters: Yes
  • ADA Compliance: No
  • Additions Alterations: No
  • Water Heater Features: Multi-Tank
  • Building Permit: No
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash To New Loan
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $64,732
  • Net Operating Income: $41,149.00
  • Gross Income: $64,732
  • Cap Rate: 3.58%
  • Gross Rent Multiplier: $3.04
  • Owner Pays: Gardener
  • Total Annual Expense: 24435
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1626
  • Lot Size Square Feet: 7084
  • Lot Location: City
Parking Details
Parking Details
  • Parking Garage: Carport, Carport Attached, Detached, Driveway, Covered Parking, Attached, Above Street Level
  • Total Parking: 8
  • Covered Parking: 4
  • Parking Features: Carport, Attached Carport, Detached Carport, Driveway, Covered, Driveway Down Slope From Street
Interior Features
Interior Features
  • Levels: Multi/Split
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Mixed
  • Equipment: None
  • Common Walls: Attached
  • Laundry: Community, Outside
  • Laundry Equipment: Own
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
  • Entry Location: Ground Level w/steps
  • New Construction: No
  • Exterior Construction: Hard Coat
  • Foundation Details: None
  • Other Structural Features: Balcony
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-01-2020
  • Listing Terms: Cash To New Loan
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,387.00
  • Unit Actual Rent: $3,387.00
  • Unit Projected Rent: $4,800.00
  • Like Units: 4
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,078.00
  • Unit Actual Rent: $2,078.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $137,265.00
  • Assessed Improvement Percent: 35.48
  • Assessed Land Value: $249,581.00
  • Assessed Land Percent: 64.52
  • Assessed Total Value: $386,846.00

Property History for 316 Columbia 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 316 Columbia Avenue

Taxable ValueLand$918,000Additions$102,825Total$1,020,825
Tax Record2023$13,339 ($1,112 / month)
Home Facts
Total Finished SqFt4,444 SqFtAbove Grade Finished SqFt4,444 SqFtLot Size7,084 SqFtStyleMulti-Family Res (5+ Units)Year Built1953ZoningLAR3CountyLOS ANGELESAPN5153-026-006

Schools near 316 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.

Similar Homes

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Similar Sold Homes

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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. 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.