$1,325,000
- Beds
- 8
- sq ft
- 3,704
316 N Bixel St, Los Angeles, CA 90026
316 N Bixel St
Los Angeles, CA 90026
- 86 days on market
- Price drop $50,000↓
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.
Details
Property type
Lot size
3,276 sq ft
Price per sq ft
$358
Year built
1910
HOA
No
Price History
08/23/2024
CLAW #23238041
Price change
$1,325,000
-3.64%
06/24/2024
CLAW #23238041
Listed
$1,375,000
+25%
02/03/2016
CLAW #15959571
Sold
$1,100,000
Schools & Community
Neighborhood:
Westlake
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 09/20/2024 at 5:50 PM
Listing updated: 08/22/2024 at 5:43 PM
Listed by: Bryan Glenn, Kidder Mathews of California, Inc. Phone #: (858) 369-3010
MLS: CLAW #23238041
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