717 Columbia Avenue presents a unique multifamily investment opportunity in the Westlake area of Downtown Los Angeles just West of the 110 Freeway and East of Koreatown. The 2-story wood frame/stucco property consists of a 37-unit residential building with a diverse unit mix that includes 1 single unit, 28 bachelor… Read More units (own bathroom with shower but no kitchen), and 8 single-room occupancy units - SRO (no bathroom and no kitchen). The property has a shared community kitchen for all units and community bathrooms for the 8 SRO units. The property is master metered for gas and electric and has no parking. Short distance to LA Live and Crypto Arena, the property benefits from strong rental demand driven by nearby employment centers, public transit access, and a wide range of dining, retail, and entertainment options. In addition, there are many nearby colleges. The small and efficient unit mix is well-suited to tenants seeking affordable living options within the city core. With its prime location and efficient unit configuration, 717 Columbia Avenue provides investors with the potential for steady cash flow and long-term appreciation in one of Los Angeles’ most dynamic rental markets. Read Less
Property listed by Homecoin.com, Jonathan Minerick 310-259-7556
Listing Snapshot
Days Online
66
Last Updated
Property Type
MixedUse
Lot Size
0.13 Acres
Year Built
1922
MLS Number
TR26082104
Additional Details
Building
Built in 1922, 1 building, 2 stories, Entry level: 1, Entry location: 1
Community
Sidewalks
Expenses
Fuel: $22,516, Operating: $162,303, Trash: $7,632
Heating
WallFurnace
Income
Gross Income: $31,200, Gross ScheduledIncome: $374,404, Net Operating Income: $200,868
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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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