Los Angeles, CA 90026,316 N Bixel ST
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Los Angeles, CA 90026,316 N Bixel ST
Los Angeles, CA 90026,316 N Bixel ST
Los Angeles, CA 90026,316 N Bixel ST
Los Angeles, CA 90026,316 N Bixel ST
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$ 1,325,000
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316 N Bixel ST Los Angeles, CA 90026

8 Beds

8 Baths

3,704 SqFt


UPDATED:

09/30/2024 05:54 PM

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


California Regional MLS (CRMLS)
Listed by Bryan Glenn • Kidder Mathews of California, Inc.

Trevor Smith

Real Estate Broker | License ID: DRE 01700986

+1(858) 539-9999

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316 N Bixel ST