316 N Bixel Street
Los Angeles, CA 90026
- – beds
- – baths
- – sqft
- 3,276 sqft lot
- 1910 build
- – on site
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.
Last checked:
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Last updated Jul 2, 2024
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MLS# 23238041 —
The Building
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Year Built:1910
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New Construction:No
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Building Area Total:3704.00
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# of Buildings:1
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Total Number Of Units:8
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Stories Total:2
Interior
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Features:Ceiling Fan(s)
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Levels:Multi/Split
Financial & Terms
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Disclosures:Listing Broker Advantage
Location
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Directions:North of 1st Street, south of Temple Street, east of Glendale Blvd and west of Beaudry Avenue.
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Latitude:34.06392600
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Longitude:-118.25494000
The Property
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Property Type:Residential Income
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Zoning:LACW
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Lot Size Area:3276.0000
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Lot Size Acres:0.0752
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Lot Size SqFt:3276.00
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Buyer's Brokerage Compensation:2.000%
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Special Listing Conditions:Standard
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Buyer's Brokerage Compensation:$2
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Parcel Number:5160021022
Appliances
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Appliances:Disposal, Refrigerator
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Included:Yes
The Community
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Senior Community:No
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Association:No
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Assessments:No
Parking
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Parking:No
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Parking:None
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
6/26/24
Jun 26, 2024
|
Listed / Active | CRMLS_CA | $1,375,000 | 25.0% (3.0% / YR) |
2/1/23
Feb 1, 2023
|
Listed / Active | CRMLS_CA | ||
12/17/21
Dec 17, 2021
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Relisted | CRMLS_CA |