Skip To Content

316 N Bixel St

Los Angeles, CA 90026
  • $1,750,000
  • STATUS: Active
  • ON SITE: 14 Days
  • MLS #: 21-107301
UPDATED: 70 min ago
$1,750,000
  • 4
    BEDS
  • 0.08
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,704
    SQFT
  • $472
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1910
County:

School Ratings & Info

Description

This is an excellent opportunity to purchase a renovated, 8-unit multifamily asset adjacent to Downtown Los Angeles at the intersection of Historic Filipinotown, Echo Park and City West.The classic, two-story property features a well-maintained woodframe and stucco building with vintage, character architecture. The property includes a mix of one-bedroom and studio units. Six of the eight units have been fully remodeled and are achieving strong rents. The two unrenovated units are well below the current market rent and will allow for steady increases or a large increase in income when those units vacate. As an investment, the property is offered at an attractive going-in Cap Rate with over 25% remaining upside. The property was recently repainted with character accents throughout. The common area floors and light fixtures were all upgraded while preserving the character of the Property. The six renovated units feature newer, modern flooring, new paint, fully remodeled kitchens and bathrooms, and upgraded electrical. The property also features a spacious upstairs, outdoor terrace available to the tenants for their use. The property is separately metered for gas and electric and master metered for water. There are individual water heaters for each apartment, and there is also coin-operated laundry on-site. There is no on-site parking so the tenants utilize street parking.

Monthly Payment Calculator



Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-07T12:42:58.407. 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.deserthouseseekers.com/homes/123493985
Print Image

316 N Bixel St Los Angeles, CA 90026

  • Price: $1,750,000
  • Status: Active
  • On Site: 14 Days
  • Updated: 70 min ago
  • MLS #: 21-107301
4
Beds
0
Baths
0
½ Baths
0.08
Acres
3,704
SQFT
$472
$/SQFT
1910
Built
Neighborhood:
Silver Lake - Echo Park
County:
Los Angeles
Area:
Silver Lake - Echo Park
Property Description
This is an excellent opportunity to purchase a renovated, 8-unit multifamily asset adjacent to Downtown Los Angeles at the intersection of Historic Filipinotown, Echo Park and City West.The classic, two-story property features a well-maintained woodframe and stucco building with vintage, character architecture. The property includes a mix of one-bedroom and studio units. Six of the eight units have been fully remodeled and are achieving strong rents. The two unrenovated units are well below the current market rent and will allow for steady increases or a large increase in income when those units vacate. As an investment, the property is offered at an attractive going-in Cap Rate with over 25% remaining upside. The property was recently repainted with character accents throughout. The common area floors and light fixtures were all upgraded while preserving the character of the Property. The six renovated units feature newer, modern flooring, new paint, fully remodeled kitchens and bathrooms, and upgraded electrical. The property also features a spacious upstairs, outdoor terrace available to the tenants for their use. The property is separately metered for gas and electric and master metered for water. There are individual water heaters for each apartment, and there is also coin-operated laundry on-site. There is no on-site parking so the tenants utilize street parking.
Exterior Features

Lot Size Area 3276 Other Structures None Parking Garage None Total Parking 0

Interior Features

Baths Total 8.00 Cooling Window Unit(S) Equipment Ceiling FanFreezerGarbage DisposalMicrowaveRange/OvenRefrigerator Heating Wall Gas Laundry Laundry Area

Property Features

Assessed Total Value 1190674 Gross Income 118213 Gross Operating Income 114667 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 72926.00 Number Of Buildings 1 Number Of Units 8 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 41741 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Lacw

Listing provided courtesy of Bryan Glenn DRE#01441095 of Kidder Mathews Of California, Inc..


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-07T12:42:58.407. 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.
 
https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_21-107301-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_21-107301-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_21-107301-2.jpg
Logo
Zwemmer Realty Group | Keller Williams Realty
75486 Augusta Drive
Indian Wells CA, 92210