Address
316 N Bixel Street Los Angeles, CA
Price
$ 1,750,000
Property Attributes
  • MLS#21107301
  • TypeIncome
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaSilver Lake - Echo Park
  • Zip90026
  • Style
  • Price$ 1,750,000
  • Bedrooms4
  • Full Bathrooms8
  • Half Bathrooms0
  • Sqr Footage3704
  • Lot Size3,276 SqFt
Listing Provided Courtesy Of:
Bryan Glenn with Kidder Mathews of California, Inc.
Data Source:
Combined LA/Westside MLS (CLAW)
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 two unrenovated 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.

Price History
11/23/2021 Listed $1,750,000

General Features

Appliances Disposal, Microwave, Refrigerator
Interior Features Ceiling Fan(s)
Listing Agent Bryan Glenn - BRE#01441095
Listing Agent State License 01441095
Lot Size Square Feet 3276
MLS Area C21 - Silver Lake - Echo Park
Property Type Residential Income
Senior Community Y/N No
Special Listing Conditions Standard
Status Active
Total Actual Rent 118213
Total Units 8
Zoning LACW

Exterior Features

Lot Size Acres 0.08
Lot Size Area 3276
Lot Size Units Square Feet
Number of Buildings 1
Parking Features None

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90026

Price
AVG $1.9M
$1.75M
Visits
AVG 32
2
Year Built
AVG 1936
1910
Walkscore
AVG 82
72
Data Provided by Walkscore ® not using MLS data

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