6% Cap Rate 100% Occupied | 316 Columbia Ave
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6% Cap Rate 100% Occupied 316 Columbia Ave
7 Unit Apartment Building $4,194,900 CAD ($599,271 CAD/Unit) 6.01% Cap Rate Los Angeles, CA 90017
Investment Highlights
- Once in a lifetime 100% Fully renovated & 100% Occupied 7-unit apartment building with permits
- Nearly RTI plans to add 2 detached ADUs to achieve a remarkable 8% Cap Rate and 9.6 GRM
- Excellent Westlake location just steps away from the trendy Echo Park, FilipinoTown, DTLA, and Koreatown
- Cash flowing at an amazing 6% Cap Rate and 12.1 GRM from day 1
- Large 7,084 SF R3-1 Lot TOC Tier 2 with future development potential
- Individually Metered for Gas & Electricity
Executive Summary
Once in a lifetime 100% Fully Renovated & 100% Fully Occupied 7-unit apartment building with permits cash flowing at an amazing 6% Cap Rate and 12 GRM from day 1! Additionally, there are nearly RTI plans to add 2 detached ADUs to achieve a remarkable 8% Cap Rate and 9.6 GRM on proforma. All 7 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 brand-new (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.
Financial Summary (Actual - 2023) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,194,900 CAD | Apartment Style | Low Rise |
| Price Per Unit | $599,271 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 6.01% | Building Size | 4,444 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 12.16 | No. Stories | 2 |
| No. Units | 7 | Year Built/Renovated | 1953/2023 |
| Property Type | Multifamily | Parking Ratio | 1.35/1,000 SF |
| Property Subtype | Apartment |
| Price | $4,194,900 CAD |
| Price Per Unit | $599,271 CAD |
| Sale Type | Investment |
| Cap Rate | 6.01% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 12.16 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 4,444 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1953/2023 |
| Parking Ratio | 1.35/1,000 SF |
Unit Amenities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $3,554 CAD | 850 |
| 3+2 | 1 | $5,817 CAD | 850 |
| 2+1 | 2 | $4,502 CAD | 850 |
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Walk Score ®
Walker's Paradise (90)
Transit Score ®
Rider's Paradise (90)
PROPERTY TAXES
| Parcel Number | 5153-026-006 | Improvements Assessment | $146,756 CAD (2024) |
| Land Assessment | $1,320,801 CAD (2024) | Total Assessment | $1,467,557 CAD (2024) |
PROPERTY TAXES
Parcel Number
5153-026-006
Land Assessment
$1,320,801 CAD (2024)
Improvements Assessment
$146,756 CAD (2024)
Total Assessment
$1,467,557 CAD (2024)
zoning
| Zoning Code | R3-1 (Restricted Density Multiple Dwelling) |
| R3-1 (Restricted Density Multiple Dwelling) |
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6% Cap Rate 100% Occupied | 316 Columbia Ave
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