318 Columbia Avenue, Los Angeles, CA 90017 (MLS # 25605343)
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Price Reduction! Once in a lifetime 100% Fully Renovated & 100% Fully Occupied 7-unit apartment building with permits cash flowing at an amazing 7.25% Cap Rate from day 1! Fully Approved RTI plans to add 6 detached ADUs to achieve a remarkable 10.4% Cap Rate and 7.6 GRM after taking into account all constructions costs (~566k assuming $250/SF). 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.
| DAYS ON MARKET | 51 | LAST UPDATED | 12/1/2025 |
|---|---|---|---|
| YEAR BUILT | 1953 | COMMUNITY | C42 - Downtown L.A. |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| PRICE HISTORY | |
| Prior to Dec 1, '25 | $2,650,000 |
|---|---|
| Dec 1, '25 - Today | $2,575,000 |
| ADDITIONAL DETAILS | |
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | C42 - Downtown L.A. |
| HEAT | Central |
| LOT | 7087 sq ft |
| LOT DIMENSIONS | 7086 |
| STORIES | Split/Multi Level |
| STYLE | Contemporary |
| VIEW | Yes |
| VIEW DESCRIPTION | City Lights |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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