316 N Bixel ST Pending Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90026
Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 3,704 sqft
Price per Sqft $357
MLS Listing ID 23238041
Bedrooms 8
HOA Y/N No
Year Built 1910
Lot Size 3,275 Sqft
Acres 0.0752
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 other two 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.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LACW
Interior
Interior Features Ceiling Fan(s)
Fireplace No
Appliance Disposal,Refrigerator
Exterior
Garage None
Parking Type None
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5160021022
Special Listing Condition Standard