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316 Columbia Ave, Los Angeles, CA 90017
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316 Columbia Ave Los Angeles, CA 90017

$2,695,000
  • 13 Beds
  • 10 Baths
  • 4,444 Sq.Ft.
For Sale
$2,695,000 Get Pre-Qualified
Map preview of 316 Columbia Ave, Los Angeles, CA 90017

Property Overview: 316 Columbia Ave Los Angeles, CA has 13 bedrooms, 10 bathrooms, 4,444 living square feet and 7,086 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Huge 200k Price Reduction! Once in a lifetime 100% Fully Renovated 7-unit apartment building with permits cash flowing at an amazing 6.6% Cap Rate and 11.2 GRM from day 1! Additionally, there are nearly RTI plans to add 2 detached ADUs to achieve a remarkable 8.7% Cap Rate and 8.9 GRM on proforma. All 7 units have been completely remodeled from the studs with permits (3 Vacant) and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, HVAC systems as well as major exterior capital improvements. Diverse unit mix of 4 (1bed/1bath) units, 2 (2bed/1bath) units, and 1 spacious (3bed/2bath) unit. Additionally, the major systems have been updated including electrical, plumbing, windows, etc. Individually Metered for Gas & Electricity. Large 7,084 SF R3-1 Lot TOC Tier 2 with future development potential. Excellent Westlake location just steps away from the trendy Echo Park, FilipinoTown, DTLA, and Koreatown.

Listed by Alex 'Zan' Sacker | BRE #01279796 | KW Advisors
Last checked: 3 minutes ago | Last updated: April 18th, 2024 | Source CRMLS | DOM: 17
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Home details

Lot Sq. Ft
7,086
HOA Dues
$0/mo
Year built
1953
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24378747
City
Los Angeles
County
Los Angeles
Time on Site
19 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,450
  • Total Rent: $2,450
  • Pro Forma/Market Rent: $2,495
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,495
  • Total Rent: $2,450
  • Pro Forma/Market Rent: $2,495
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $3,052
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $3,052
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $3,915
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,495
  • Total Rent: $2,450
  • Pro Forma/Market Rent: $2,495
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,450
  • Total Rent: $2,450
  • Pro Forma/Market Rent: $2,495
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,495
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,495
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.6%
  • Gross Rent Multiplier: 11.28
  • Gross Scheduled Income: --
  • Net Operating Income: $177,932
  • Gross Operating Income: $235,764
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 316 Columbia Ave

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Property Details for 316 Columbia Ave

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Room Information
  • Flooring: Laminate
  • Bonus Room
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 6
Property Information
  • Has View
  • View: City Lights
  • Total # of Units: 7
  • Parcel Number: 5153026006
  • Architectural Style: Contemporary
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Just south of 3rd Street
View more facts & features

Local Los Angeles Agent

Sale History for 316 Columbia Ave

Last sold for $1,000,000 on February 17th, 2022

  • April, 2024

  • Apr 10, 2024

    Date

    Active

    CRMLS: 24378747

    $2,695,000

    Price

  • April, 2024

  • Apr 6, 2024

    Date

    Expired

    CRMLS: 24364709

    $2,795,000

    Price

  • Mar 4, 2024

    Date

    Active

    CRMLS: 24364709

    $2,795,000

    Price

  • Listing provided courtesy of CRMLS

    Price Reduction! Once in a lifetime 100% Fully Renovated 7-unit apartment building (3 vacant) with permits cash flowing at an amazing 6.28% Cap Rate and 11.8 GRM from day 1! Additionally, there are nearly RTI plans to add 2 detached ADUs to achieve a remarkable 8.2% Cap Rate and 9.5 GRM on proforma. All units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, HVAC systems as well as major exterior capital improvements. Diverse unit mix of 4 (1bed/1bath) units, 2 (2bed/1bath) units, and 1 spacious (3bed/2bath) unit. Additionally, the major systems have been updated including electrical, plumbing, windows, etc. Individually Metered for Gas & Electricity. Large 7,084 SF R3-1 Lot TOC Tier 2 with future development potential. Excellent Westlake location just steps away from the trendy Echo Park, FilipinoTown, DTLA, and Koreatown.

  • February, 2024

  • Feb 22, 2024

    Date

    Expired

    CRMLS: 24344205

    $2,795,000

    Price

  • Jan 8, 2024

    Date

    Active

    CRMLS: 24344205

    $2,895,000

    Price

  • Listing provided courtesy of CRMLS

    Price Reduction! Once in a lifetime 100% Fully Renovated 7-unit apartment building (3 vacant) with permits cash flowing at an amazing 6.28% Cap Rate and 11.8 GRM from day 1! Additionally, there are nearly RTI plans to add 2 detached ADUs to achieve a remarkable 8.2% Cap Rate and 9.5 GRM on proforma. All units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, HVAC systems as well as major exterior capital improvements. Diverse unit mix of 4 (1bed/1bath) units, 2 (2bed/1bath) units, and 1 spacious (3bed/2bath) unit. Additionally, the major systems have been updated including electrical, plumbing, windows, etc. Individually Metered for Gas & Electricity. Large 7,084 SF R3-1 Lot TOC Tier 2 with future development potential. Excellent Westlake location just steps away from the trendy Echo Park, FilipinoTown, DTLA, and Koreatown.

  • January, 2024

  • Jan 5, 2024

    Date

    Canceled

    CRMLS: 23337249

    $2,895,000

    Price

  • Dec 6, 2023

    Date

    Active

    CRMLS: 23337249

    $2,895,000

    Price

  • Listing provided courtesy of CRMLS

    Once in a lifetime 100% Vacant and Fully Renovated 7-unit apartment building with permits cash flowing at an amazing 6% Cap Rate and 12.2 GRM from day 1! Additionally, there are nearly RTI plans to add 2 detached ADUs to achieve a remarkable 7.9% Cap Rate and 9.8 GRM on proforma. All units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, HVAC systems as well as major exterior capital improvements. Diverse unit mix of 4 (1bed/1bath) units, 2 (2bed/1bath) units, and 1 spacious (3bed/2bath) unit. Additionally, the major systems have been updated including electrical, plumbing, windows, etc. Individually Metered for Gas & Electricity. Large 7,084 SF R3-1 Lot TOC Tier 2 with future development potential. Excellent Westlake location just steps away from the trendy Echo Park, FilipinoTown, DTLA, and Koreatown.

  • December, 2023

  • Dec 5, 2023

    Date

    Canceled

    CRMLS: 23332397

    $2,895,000

    Price

  • Nov 15, 2023

    Date

    Active

    CRMLS: 23332397

    $2,895,000

    Price

  • Listing provided courtesy of CRMLS

    Once in a lifetime 100% Vacant and Fully Renovated 7-unit apartment building with permits cash flowing at an amazing 6% Cap Rate and 12.2 GRM from day 1! Additionally, there are nearly RTI plans to add 2 detached ADUs to achieve a remarkable 7.9% Cap Rate and 9.8 GRM on proforma. All units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, HVAC systems as well as major exterior capital improvements. Diverse unit mix of 4 (1bed/1bath) units, 2 (2bed/1bath) units, and 1 spacious (3bed/2bath) unit. Additionally, the major systems have been updated including electrical, plumbing, windows, etc. Individually Metered for Gas & Electricity. Large 7,084 SF R3-1 Lot TOC Tier 2 with future development potential. Excellent Westlake location just steps away from the trendy Echo Park, FilipinoTown, DTLA, and Koreatown.

  • January, 2023

  • Jan 1, 2023

    Date

    Expired

    CRMLS: 22214793

    $2,650,000

    Price

  • Nov 3, 2022

    Date

    Active

    CRMLS: 22214793

    $1,995,999

    Price

  • Listing provided courtesy of CRMLS

    Once in a lifetime Opportunity 100% Vacant 6 Units with plans for 3 ADUs priced at only 261k/door in the Prime Westlake area. Amazing Value Add Fixer project with Incredible upside to almost a 7% Cap Rate and 10.9 GRM after renovations. Preliminary plans to add 3 ADUs including 1 Attached 3 bed 2 bath unit in Garages + 2 detached one-bedroom units in the parking area. Large 7,084 SF R3-1 Lot TOC Tier 2 with future development potential. Excellent Westlake location just steps away from the trendy Echo Park, FilipinoTown, DTLA, and Koreatown. Individually Metered for Gas & Electricity. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of 3 ADUs 1,790 SF at 200/SF (358k)

  • November, 2022

  • Nov 4, 2022

    Date

    Expired

    CRMLS: 22205397

    $1,999,000

    Price

  • Oct 3, 2022

    Date

    Active

    CRMLS: 22205397

    $2,295,000

    Price

  • Listing provided courtesy of CRMLS

    Huge 300k Price Reduction! Once in a lifetime Opportunity 100% Vacant 6 Units with plans for 3 ADUs priced at only 261k/door in the Prime Westlake area. Amazing Value Add Fixer project with Incredible upside to almost a 7% Cap Rate and 10.9 GRM after renovations. Preliminary plans to add 3 ADUs including 1 Attached 3 bed 2 bath unit in Garages + 2 detached one-bedroom units in the parking area. Large 7,084 SF R3-1 Lot TOC Tier 2 with future development potential. Excellent Westlake location just steps away from the trendy Echo Park, FilipinoTown, DTLA, and Koreatown. Individually Metered for Gas & Electricity. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of 3 ADUs 1,790 SF at 200/SF (358k)

  • February, 2021

  • Feb 11, 2021

    Date

    Price Change

    CRMLS: 20626742

    $1,149,999

    Price

  • Sep 1, 2020

    Date

    Active

    CRMLS: 20626742

    $1,249,999

    Price

  • Listing provided courtesy of CRMLS

    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.

  • December, 2002

  • Dec 4, 2002

    Date

    Sold (Public Records)

    Public Records

    $310,000

    Price

  • February, 2002

  • Feb 4, 2002

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 316 Columbia Ave

Assessed Value (2020): $411,347
Year Land Value Improved Value Assessed Value
2020 $264,856 $146,491 $411,347

Home Value Compared to the Market

This property vs the competition

316 Columbia Ave is listed 118.04% higher than the median list price for the city of Los Angeles which has a median list price of $1,236,000. The median price per/sqft for Los Angeles is $773 and this home is listed at $606.44 per/sqft which puts the price per square foot 21.55% lower than the median price per square foot for the city of Los Angeles.

About 316 Columbia Ave

Detailed summary of property

316 Columbia Ave is a multi family located in Los Angeles, CA 90017 and is currently for sale. This multi family property offers 13 bedrooms, 10 bathrooms, roughly 4,444 living square feet, and sits on an approximately 7,086 square foot lot. 316 Columbia Ave was first listed on ArdentRealEstateGroup.com on April 10, 2024. The homeowner is currently asking $2,695,000. The median priced home in Los Angeles is $1,236,000 with a median price per square foot of $773. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 118.04% higher than the median priced home. Local competing homes currently for sale include 907 Glendale Blvd, 1037 S Bonnie Brae St and 645 S Los Angeles St. While the average home in Los Angeles, CA is selling in 96 days, 316 Columbia Ave has a days on market of 17 days. There are currently 3487 homes for sale in the Los Angeles real estate market and 2373 of them are single family homes while 1015 of them are condos and 93 are townhomes. For more information on this home for sale at 316 Columbia Ave Los Angeles, CA 90017 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 316 Columbia Ave

Public county record property details
Beds
4
Baths
6
Year built
1953
Sq. Ft.
3,409
Lot Size
7,084
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1-6
APN
5153-026-006

The source for these homes facts are from public records.

90017 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$639,999
Median List Price/Sq.Ft.
$719
Median Sold Price
$700,000
Median Sold Price/Sq.Ft.
$634
Total Inventory
90
Median Sale to List Price %
95.24%
Avg Days on Market
41
Loan Type
Conventional (25%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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Recently Sold Homes Near 316 Columbia Ave

325 Columbia Ave, Los Angeles, CA 90017
$4,500,000 Last Sold Price
0 Beds
35 Baths
16727 Sq.Ft.
325 Columbia Ave
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325 Witmer St, Los Angeles, CA 90017
$2,250,000 Last Sold Price
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329 Witmer St, Los Angeles, CA 90017
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11 Beds
6 Baths
-- Sq.Ft.
329 Witmer St
Los Angeles, CA 90017
240 Columbia Ave, Los Angeles, CA 90026
$800,000 Last Sold Price
4 Beds
3 Baths
1605 Sq.Ft.
240 Columbia Ave
Los Angeles, CA 90026

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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